Trade Facilitation Results
Trade facilitation focuses on removing barriers to the international movement of goods to lower trade costs, at and around the borders, and along the supply chain, to make countries more competitive in regional and global markets. In the SASEC subregion, bottlenecks in trade facilitation are the leading non-tariff barriers that constrain intraregional trade. SASEC initiatives in trade facilitation aims to make cross-border trade and transport in the subregion faster, cheaper, and more predictable, while maintaining the security of the supply chain and ensuring the effectiveness and efficiency of the institutions involved.
TRANSPORT
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REPORTS
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World Trade Statistical Review 2020 presents the latest developments in world trade, with analysis of recent trends for trade in goods and services. The report examines the impact of the coronavirus disease (COVID-19) pandemic on international trade, and provides data on trade in least developed countries as well as in countries under the South Asian Free Trade Area.
Source: World Trade Organization
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NEWS & MULTIMEDIA
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Mr. Himanta Biswa Sarma, Chief Minister of Assam, India, discussed plans for Assam's involvement in the development of Bhutan's Gelephu Mindfulness City (GMC) at a press conference. Key highlights of Assam's plans are to build transportation links and expand the airport.
India's Ministry of Railways has commissioned a survey to establish a cross-border railway link between India and Bhutan. The planned route is on Mujnai (India)–Nyoenpaling (Bhutan).
Representatives from Bangladesh, Bhutan, India, and Nepal (BBIN) met in New Delhi, India, on 8 February 2020 to discuss and push for the finalization of the BBIN Motor Vehicles Agreement.
Trial runs on Dhaka (Bangladesh)-Gangtok (Sikkim, India) and Dhaka-Darjeeling (India) for direct bus services were conducted on 12-16 December 2019. Darjeeling and Gangtok in India are popular tourist destinations in Bangladesh. The trial run aimed to assess road conditions and determine feasibility of operationalizing commercial passenger bus services along these routes.
The inaugural chartered flight service between Mandalay, Myanmar and Imphal, India by Air KBZ kicked off on 23 November 2019. Air KBZ is a private air carrier from Myanmar. The service is expected to transform the transportation network of India’s northeastern region and boost the regional economy.
Asian countries need to adjust their growth models to adapt to sluggish demand for Asian exports by relying more on domestic demand and intraregional trade to deliver the growth they need. In this ADB blog post, Mr. Juzhong Zhuang, Deputy Chief Economist and Deputy Director General, Economic Research and Regional Cooperation Department, ADB, proposes bold approaches to secure growth through priority areas including closing the infrastructure gap and increasing use of renewable energy.
The India-Myanmar-Thailand (IMT) Trilateral Highway is set to be completed by 2019-2020. Indian Prime Minister Narendra Modi has assigned the India Ministry of External Affairs to monitor and oversee its completion.
The Government of India has proposed formation of a National Industrial Corridor Development Authority to facilitate integrated development of industrial corridors across the country. Two corridors, the Delhi-Mumbai Industrial Corridor and the Visakhapatnam-Chennai Industrial Corridor, are currently under different stages of development.