The World Bank’s latest report titled “Connecting to Thrive: Challenges and Opportunities of Transport Integration in Eastern South Asia,” says a seamless transport link between India and Bangladesh will increase the national income of both the countries.
The seamless transport connectivity has the potential to increase national income by as much as 17 percent in Bangladesh and 8 percent in India. We hope that it will also help Bangladesh trade with India, Nepal and Bhutan as well.
And it will also play a significant role in business-trade and economic development, creating a new era in other East Asian countries through providing connectivity to India.
As our country is uniquely
positioned to take advantage of its location, it will be turned into a
centre point of trade chains for India, Bhutan
and Nepal
It has been noticed that the trade between India and Bangladesh has increased substantially over the last decade; it is estimated to be $10 billion below its current potential.
Geographically, Bangladesh’s location makes it a strategic gateway to India, Nepal, Bhutan, and other East Asian countries.
Therefore, Bangladesh can also become an economic powerhouse by improving regional trade, transit and logistics networks.
And the improving transport connectivity between the two countries could increase exports even further, yielding a 297 percent increase in Bangladesh’s exports to India and a 172 percent increase in India’s exports to Bangladesh.
In this regard, Bangladesh will have to strengthen regional and trade transit through various investments in regional road and waterways corridors, priority land ports, and digital and automated systems for trade.
We hope as our country is uniquely positioned to take advantage of its location, it will be turned into a centre point of trade chains for India, Bhutan and Nepal with the ASEAN and other East Asian countries.
We think the both countries will address a number of challenges such as infrastructure deficits, particularly in designated border posts, harmonization of regulations and customs procedures immediately.
