Financing Transport Connectivity in the BIMSTEC Region looks at how to finance an overhaul of transport infrastructure in the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) subregion. The report identifies institutional gaps in the BiMSTEC regional institutions compared with regional institutions in the European Commission, Association of Southeast Asian Nations, and the South Asia Subregional Economic Cooperation (SASEC) partnership.

Author: Asian Development Bank

Year: 2023

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Tags: ADB, South Asia, Transport, Regional Cooperation

This publication gives statistics on economic, financial, social, and environmental measures, as well as select indicators for the Sustainable Development Goals (SDGs). Statistics for Asian Development Bank's member countries include figures for energy, transport and communications, and international trade and logistics.

Author: Asian Development Bank

Year: 2023

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Tags: ADB, South Asia, Sustainable Development Goals

The economy of Maldives, being reliant on tourism, went into recession due to border closures and travel restrictions during the coronavirus (COVID-19) pandemic. The pandemic called attention to the need for Maldives to diversify its economy to reduce short-term macroeconomic volatility. In addition, Maldives stands to benefit from setting up regional maritime connectivity for strengthening food trade with other South Asian countries.

Author: Abdulla Ali, Elisabetta Gentile, Macrina Mallari, Thiam Hee Ng

Year: 2023

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Tags: ADB, Tourism, COVID-19, Maldives

This publication discusses new directions for expanding regional cooperation and integration in Asia and the Pacific, as laid out in the Regional Cooperation and Integration Conference held in 2022 in Bangkok, Thailand. One panel discussion tackled how regional platforms such as the South Asia Subregional Economic Cooperation (SASEC) could support cross-border environmental protection of shared natural resources. In another panel, Mr. Nilaya Mitash, principal operations coordination specialist on regional cooperation for the Asian Development Bank, discussed cross-border logistics and the Electronic Cargo Tracking System (ECTS) initiative under the SASEC program.

Author: Asian Development Bank

Year: 2023

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Tags: ADB, Logistics, Regional Cooperation, Electronic Cargo Tracking System, SASEC

While the export of textile products contributes significantly to the Bangladesh economy, reliance on these exports also poses risks to the economy. For instance, the garment sector suffered tremendously when the coronavirus pandemic struck, during which factories shut down and many workers, mostly women, lost their jobs. This report looks at how Bangladesh can foster economic growth by diversifying its participation in trade and global value chains.

Author: Asian Development Bank

Year: 2023

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Tags: Bangladesh, ADB, Trade, COVID-19, Global Value Chains

Countries are shifting to using green energy sources to meet their energy needs and cut emissions. While South Asia may have ample renewable energy and hydropower resources, demand exceeds local supply, and the countries have had to rely heavily on imports. To help improve energy security in the region, South Asian countries have signed bilateral and multilateral agreements to trade energy, including India-Nepal hydropower projects and the India-Bhutan hydroelectric joint venture.

Author: CUTS International

Year: 2023

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Tags: Energy, Trade, South Asia, Hydropower, Bhutan, India, Nepal

This report monitors global and regional foreign direct investment trends and national and international investment policy developments. Across South Asia in 2022, FDI inflows rose by 4.4% to $58 billion while FDI outflows rose by 1.1% to $16 billion. South Asia posted the largest increase in greenfield projects, with announced greenfield projects in India more than doubling in 2022.

Author: United Nations Conference on Trade and Development

Year: 2023

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Tags: UNCTAD, Trade, South Asia

Least developed countries, landlocked developing countries, and small island developing states in Asia and the Pacific have been working to promote seamless transport to facilitate trade. Bangladesh, for example, has completed construction of the new Akhaura (Bangladesh) to Agartala (India) railway link, and has begun operations of Oxygen Express train carrying liquid medical oxygen as well as regular freight services between Haldibari in India and Chilahati in Bangladesh. Across South Asia, countries have also been rolling out an Electronic Cargo Tracking System under the United Nations Economic and Social Commission for Asia and the Pacific to make cargo movement more seamless.

Author: United Nations Economic and Social Commission for Asia and the Pacific

Year: 2023

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Tags: Trade, South Asia, UNESCAP, Regional Cooperation, Sustainable Development Goals, Railway, Bangladesh, India

Connecting to Compete presents the findings from the latest data from the 2023 Logistics Performance Index (LPI) and its six component indicators: Customs, infrastructure, international shipments, logistics competence, tracking and tracing, and timeliness. The seventh edition, which now covers 139 countries, is released following unprecedented disruptions in supply chains amid the global coronavirus (COVID-19) pandemic.

Author: World Bank

Year: 2023

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Tags: WB, Trade, Logistics, South Asia

GDP in South Asia is estimated to grow at 5.6% in fiscal year FY2023 and 5.9% in FY2024, backed by the recovery in services and lower commodity prices. GDP growth in Bangladesh will decelerate to 5.2% in FY2022-2023 due to global economic uncertainty, before recovering to 6.2% in FY2024. In Bhutan, GDP is projected to expand at 4.5% in FY2022-2023 as the further reopening of borders support growth in industry and services. GDP growth in India will moderate to 6.3% in FY2023-2024 following slower growth in consumption. Maldives is seeing a return to the tourism sector's pre-pandemic levels with GDP growth projections in FY2023 at 6.6%. Growth in Nepal will slow to 4.1% in FY2023 following import restrictions, before rising to 4.9% in FY2024. In Sri Lanka, amid fiscal and external imbalances, GDP growth is estimated at -4.3% in FY2023 and 1.2% FY2024. In Southeast Asia, the Myanmar Economic Monitor projects Myanmar's economic recovery accelerating to 3% in the year to September 2023 following growth in industry and services.

Author: World Bank

Year: 2023

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Tags: WB, Bangladesh, Bhutan, Sri Lanka, Services, India, Maldives, Myanmar, Nepal

This publication gives brief stories that demonstrate the impact of infrastructure connectivity in the Bangladesh-Bhutan-India-Nepal (BBIN) subregion. It presents reflections on hydropower trade, trade cooperation through the use of land and sea ports, the BBIN motor vehicles agreement, and Nepal's trade logistics policy.

Author: CUTS International

Year: 2023

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Tags: Bangladesh, Bhutan, India, Nepal

Basic Statistics presents data on development indicators tracking progress toward the Sustainable Development Goals. The publication includes new data for development indicators for 46 economies in Asia and the Pacific, including those for the seven South Asia Subregional Economic Cooperation countries: Bangladesh, Bhutan, India, Maldives, Myanmar, Nepal, and Sri Lanka.

Author: Asian Development Bank

Year: 2023

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Tags: Bangladesh, Bhutan, India, Myanmar, Maldives, Nepal, Sri Lanka, Sustainable Development Goals

In 2022, under the operational priority of Fostering Regional Cooperation and Integration, the Asian Development Bank (ADB) provided support for a $143-million program in Bangladesh to construct integrated customs stations and land ports at border-crossings to help increase trade volumes among South Asia Subregional Economic Cooperation (SASEC) countries. In India, ADB committed $300 million to upgrade district roads in Assam, which will reduce travel time to SASEC corridors. ADB is also supporting a nonsovereign loan that would improve communication network capacity and mobile services in Maldives.

Author: Asian Development Bank

Year: 2023

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Tags: ADB, SASEC, Maldives, India, Bangladesh, Road

South Asia is projected to grow faster than other subregions in Asia, with real gross domestic product (GDP) estimated at 5.5% in fiscal year (FY) 2023 and 6.1 in FY2024. Growth within South Asia is expected to vary, with India projected to grow by 6.4% in FY2023 and 6.7% in FY2024 behind strong domestic demand. In Bangladesh, GDP growth is estimated at 5.3% in FY2023 owing to global economic disruptions and 6.5% in FY2024. In Bhutan, hydropower production will push up growth to 4.6% in FY2023 and 4.2% in FY2024. Growth in Maldives is estimated at 7.1% in FY2023 and 6.9% in FY2024, supported by a boom in tourism and construction. In Nepal, growth will slow to 4.1% this year before picking up in FY2024 at 5.0% with a recovery in tourism and infrastructure. Sri Lanka is projected to contract at -3.0% in FY2023 before recovering to 1.3% in FY2024 premised on debt relief and key reforms. In Southeast Asia, Myanmar's GDP will rise moderately to 2.8% in FY2023 and 3.2% in FY2024.

Author: Asian Development Bank

Year: 2023

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Tags: South Asia, Hydropower, ADB, Bangladesh, Bhutan, India, Maldives, Myanmar, Nepal, Sri Lanka

This report shows how smart trade and investment policies, and regulatory cooperation in the Asia and Pacific region can help economies tackle climate change, recover from the pandemic, and support resilient and sustainable development. Analyzing topics including global value chains, investment, the movement of people, and regional cooperation initiatives, it outlines the economic and environmental challenges the region currently faces. It explores how trade and investment policies can support climate action and highlights why a joined-up approach is essential to help deepen the digital economy, strengthen supply chains and foster greener businesses, markets, and trade.

Author: Asian Development Bank

Year: 2023

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Tags: SASEC, Infrastructure, ADB, Connectivity, Climate Change, Global Value Chains, Trade

The northeast of India is shares international borders with Bangladesh, Bhutan, Nepal, and Myanmar and acts as a bridge for India's participation in global forums through the Bay of Bengal Initiative for Multisectoral Technical and Economic Cooperation and the South Asia Subregional Economic Cooperation program. This paper highlights challenges in global trade and suggests ways for improving trade with other countries in South Asia and Southeast Asia.

Author: Sanchita Basu Das and Soumya Chattopadhyay

Year: 2023

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Tags: India, Trade Facilitation, SASEC, BIMSTEC, Transport, Bangladesh, Bhutan, Nepal, Myanmar