With Bangladesh looking to become a high-income, prosperous, smart nation in the next two decades, and with middle-income status set to occur in the next few years, it is important to remember that the whole of South Asia -- which includes each and every country in the region -- continues to grow and develop.
To that end, it is a shame that despite so many shared commonalities and the overall aspiration for economic growth displayed by each nation in the region, regional cooperation has never managed to reach its full potential.
This is a failure on the part of the entire region; for example, as per the World Bank, Bangladesh's bilateral trade with India is 10% of the country's total trade volume, while India's trade with Bangladesh is only 1% of the country's total trade volume.
For two nations as close as Bangladesh and India, with so much shared history and friendship, it is truly disheartening to see how low the trade volume is.
Better integrated regional connectivity would certainly see both the countries hugely benefit from trade and investment within the region -- and the same is true for all nations in South Asia.
For too long, mistrust and a sense of wariness have defined the region; as a result, neighbouring countries have unfortunately been seen more as threats without realizing the opportunities cooperation presented.
Moving forward, this must change. South Asia, with its extensive youth population eager to contribute, stands to gain tremendously if all nations realize that unity is the best way.
Bangladesh, with its age-old principle of “friendship to all and malice towards none” could play a pivotal role in bringing the nations in the region together, so that the entirety of South Asia can reach its full potential.
