New Delhi: With a South Asian road and rail connectivity project scuttled by Pakistan and another effort by New Delhi to link Bangladesh, Bhutan, Nepal and India by road running into roadblocks, India on Friday sought to push connectivity between South and South-East Asia to spur economic growth and development. BIMSTEC comprises Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand, and brings together 1.5 billion people or 21% of the world population and a combined gross domestic product (GDP) of over $2.5 trillion. With Pakistan effectively scuttling two pacts for regional connectivity—one road and the other rail—at the South Asian Association for Regional Cooperation (SAARC) Summit in Kathmandu in 2014, India pitched for a subregional motor vehicles pact with Bangladesh, Bhutan and Nepal. In her statement at the BIMSTEC meeting in Kathmandu, Swaraj also called for the speedy conclusion of the BIMSTEC free trade agreement, BIMSTEC Trade Facilitation Agreement and the BIMSTEC Agreement on Mutual Assistance on Customs Matters that would speed up the growth of trade among the members of the group. She also called for measures to boost intra-regional tourism that would allow tourists to experience shared civilizational heritage.

Source: Mint August 11, 2017 21:33 UTC