South Asia largely inactive as a region: Rehman Sobhan
Staff Reporter :
Most trade in South Asia is bilateral, and we are discussing ways to interact more closely at a time when South Asia is largely inactive as a region, said eminent economist Professor Rehman Sobhan, chairman of the Centre for Policy Dialogue (CPD).
“The progress witnessed in South Asia over the recent couple of decades can be attributed to the advancements made by individual countries,” he said while speaking at the inauguration session of the 14th round of the South Asia Economic Summit in Dhaka yesterday.
The Centre for Policy Dialogue (CPD) with the collaboration of some other think tanks of the South Asian region organized the two-day summit at a hotel in the capital.
Noting that South Asia has changed significantly in the past 30 years, Rehman Sonhan said, “At the same time, GDP growth, macroeconomic management, poverty reduction, and human development have undergone transformative changes.”
He also said that the changes in infrastructure and logistics between India and Bangladesh have been transformative.
“Much of the benefit of these changes remains to come in the next few years. When they do, they will have significant consequences for how we relate to each other,” the economist said.
Addressing the event as the chief guest, Jatiya Sangsad Speaker Dr Shirin Sharmin Chaudhury urged the private sector and corporations to increase investment to achieve targets set under the Sustainable Development Goals (SDGs).
There is a $4 trillion investment gap to achieve the global commitment to the SDGs by 2030, Shirin Sharmin said, adding that a lot of thought is being put into how to mobilise the necessary resources and how countries can contribute within the framework of their national budgets.
Speaking at the summit, Planning Minister MA Mannan said that Bangladesh’s exports to India are rising rapidly compared to other destinations.
He also said that there is untapped potential for regional trade in South Asia, as only 8% of the region’s international trade takes place within the region itself.
A large number of people from India, Pakistan, Sri Lanka, and other South Asian countries work in Bangladesh, the minister said, adding that professionals from Bangladesh are also working in other South Asian countries.
He also emphasized the need to reduce trade and non-trade barriers, such as visa, passport, and countervailing duty requirements.
Dr Fahmida Khatun, executive director of the CPD presented a brief overview of the event.
She said that the event will be participated by a broad range of stakeholders, including representatives of the public and private sectors, non-government organizations, civil society organizations, think tanks, academia, media and development partners from South Asia and beyond.
