The government hopes to make Bangladesh a people-centric regional hub where not only economic but also development and social issues are addressed.
“We are thinking of creating a regional hub where welfare will get the focus,” said a senior Foreign Ministry official asking not to be named.
The traditional regional connectivity concept typically focuses on the movement of goods but now it is being widened to include issues like inequality, people-to-people contact, food security and energy cooperation, he said.
Bangladesh is strategically located between South and South-east Asia, with India on one side and China on the other.
As a party to a number of regional blocs and connectivity initiatives, the prospects are immense. Bangladesh is a member of the South Asian Association for Regional Cooperation (Saarc) and the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (Bimstec).
It is also a member of the Bangladesh, Bhutan, India, Nepal Initiative (BBIN), the Bangladesh–China–India–Myanmar Forum for Regional Cooperation (BCIM), Trans Asian Railway and Asian Highway network.
“All of these initiatives are essentially economic in nature but at the same time they are a bridge for ideas, knowledge, culture and technology with people at the centre,” the official said.
Transformation
The Asia-Pacific region is witnessing a massive transformation where new growth hubs are emerging and long-known economic practices and industries are giving away to new ones, said another foreign ministry official.
“Look at the ready-made garments industry today. The sector is not what it used to be even two years ago,” he said.
Sustainability, responsible business conduct and corporate social responsibility are emerging and reshaping business practices, with the main focus now on the welfare of people and the environment, he added.
In the regional context, the cooperation taking place was unthinkable even a couple of years before, said the Foreign Ministry official.
As an example, he said Indian power was now flowing to Bangladesh, something he said was inconceivable seven years ago.
“Another example is Bangladesh and Myanmar negotiating energy cooperation,” he said, adding: “The Padma bridge will change the production and distribution patterns of the south-western quadrant of the country,” he said.
Road corridors connecting the BBIN and the BCIM countries will help growth centres emerge and flourish, lifting people out of poverty and improving livelihoods, he said.
