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Transport connectivity can dramatically boost economies of India, B desh
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Transport connectivity can dramatically boost economies of India, Bangladesh
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The News Scroll 09 March 2021
Last Updated at 8:03 pm | Source: PTI
BBIN countries in South Asia can be economic growth pole of sub-region: World Bank India head Outlook March 09, 2021 20:03 IST BBIN countries in South Asia can be economic growth pole of sub-region: World Bank India head outlookindia.com 1970-01-01T05:30:00+0530
New Delhi, Mar 9 (PTI) Improvement in connectivity between Bangladesh and India, alongside Bhutan and Nepal, has the potential to make the sub-region an economic growth pole for South Asia and can add substantially to their gross domestic product (GDP), World Bank India Head Junaid Ahmad said on Tuesday. A seamless transport connectivity between India and Bangladesh has the potential to increase national income by as much as 17 per cent in Bangladesh and 8 per cent in India, the World Bank said in its latest report on Connecting to Thrive: Challenges and Opportunities of Transport Integration in Eastern Sout
Intraregional trade in South Asia accounts for barely five percent of the region s total trade-just a fraction of the 25 percent for the ASEAN region. Bilateral trade between Bangladesh and India represents only 10 percent of Bangladesh s total foreign trade, and one percent of India s trade. A key factor for the low numbers is the sub-optimal transport integration in the region.
Transport integration agreements in South Asia therefore are crucial for creating cross-border integrated transport markets in the region. The Motor Vehicles Agreement (MVA)-signed by Bangladesh, Bhutan, India, and Nepal (BBIN) in 2015-is a cornerstone of that integration. If implemented in full, it could lead to seamless movement of passenger, personnel, and cargo vehicles across the South Asian countries.
Seamless Connectivity Can Create Significant Economic Gains For Bangladesh And India: World Bank
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