Regional integrated efforts, plus political stability are key to attaining inclusive growth in the South Asian countries, experts said at a conference in the capital yesterday.
They also observed that regional connectivity is also important to ensure food security, job creation, better nutrition, education, skill development, sanitation and so on.
The observation of a galaxy of economists, academicians, policymakers came at the 13th annual South Asia Network of Economic Research Institute (SANEI) conference at a city hotel.
Members of SANEI are Bangladesh, India, Nepal, Pakistan and Sri Lanka), with the objective of fostering strong research inter-linkages. The theme of the two-day conference is “Regional integration in South Asia”.
Bangladesh Institute of Development Studies (BIDS) organised the conference with the financial support of the Bangladesh Bank and The Ford Foundation.
While inaugurating the event, Finance Minister AMA Muhith urged the South Asian countries to put forth coordinated efforts for the regional economic development.
“It is important for regional integration to reap economic benefits,” he said, adding that Bangladesh is now experiencing peace over the last eight months.
He put importance on the success in the development of communication sector and in openness of economy to facilitate regional economic integration.
He said. “One country alone cannot ensure peace. If anarchy prevails in a country, impact of this spells into the neighboring country as well. That’s why it demands mutual cooperation among the regional block for the economic prosperity.”
Emeritus Professor at Yale University TN Srinivasan presided over the conference which was also attended by Mashiur Rahman, economic affairs adviser to the prime minister, Global Development Network Deputy Director Annie Soriot and Bangladesh Institute of Development Studies Director General and Coordinator of SANEI Mustfa K Mujeri also attending.
A book on “Adjusting to Global economic volatility: the case of south Asia” published by the Academic Foundation, New Dellhi in association with SANEI.
Mujeri said the regional initiative aims to establish strong interlink between the South Asian countries.
Annie underscored the need for building research capacity and global better governance for regional economic development. “Research will not solve problem but can show the right path to the policymakers.”
Professor Srinivasan said knowledge integration has no regional boundary.
Multilateral integration is also necessary with the regional integration,” he said.
The two-day conference would have series of sessions including public lecture on “Regional integration for inclusive growth in South Asia”, panel discussion on its key policy issues, technical session on intra-regional trade in South Asia, SAFTA, cross border trade in South Asia etc.
