Trade, investment, transport development South Asia
South Asian Leaders Discuss Trade, Investment and Transport Development
Manila, Philippines – Government officials and private sector leaders from four South Asian countries met in Bangkok earlier this week to take part in working groups on developing transport, trade, and private sector cooperation in the subregion.
Officials from Bangladesh, Bhutan, India, and Nepal were represented at the 4th Meetings of the Transportation Working Group and the Trade, Investment, and Private Sector Cooperation Working Group of the South Asia Subregional Economic Cooperation (SASEC), held 21-22 November 2006.
The Transportation working group reviewed progress and charted the next steps for the SASEC 6 Corridors transport project and the SASEC Trade-Facilitation Action Plan.
Meanwhile, the Trade, Investment, and Private Sector Cooperation Working Group discussed priorities in trade and investments in SASEC and constraints such as non-tariff barriers and customs harmonization in the subregion. The two working groups also convened in joint sessions to harness synergies between the transportation and trade sectors.
SASEC was established in 2001 with ADB support, following South Asia Growth Quadrangle’s request for assistance in promoting the subregion’s economic cooperation initiatives in the following priority areas: transport; tourism; trade, investment and private sector cooperation; energy and power and environment; and information and communications technology. The program is now on its third phase. Participants include SASEC’s member countries Bangladesh, Bhutan, India, and Nepal, with Sri Lanka as a member of the Tourism Working Group.