BCIM AND CONNECTIVITY FOR BANGLADESH: ANALYSING ITS POLITICO, SECURITY AND ECONOMIC IMPLICATIONS

Abstract

In the modern days world, despite having abundant of resources, no country can alone develop without having regional or global cooperation. Bangladesh, China, India and Myanmar in short BCIM is geographically contiguous country enriched with huge natural, mineral and other resources. Though bilaterally each of these four countries is making effort for trade and investment but it lacks regional cooperation due to lack of connectivity especially road connectivity. Being land locked, the North Eastern part of India and South Eastern part of China could not derive benefit of the resources they have. Therefore, it was essential for establishing closer economic cooperation within BCIM region. BCIM EC is not only seen as a simple plan for making an economic corridor but had also emerged as a greater opportunity to tie up the four participating countries socially, politically and culturally. Like other three members, Bangladesh believes that BCIM EC would bring ample opportunities for the country in several areas like connectivity, trade, energy, power, water, environment, and tourism. Cooperation could be strengthened enormously by establishing multi-modal transport linkages within the BCIM region and linking it to the world’s market through development of deep seaport in the Bay of Bengal. However, financing the projects especially the infrastructural projects, huge trade imbalances among the member countries, lack of preferential market access and trade facilitation measures, political discomfort and security related issues appear as economic obstacles in realising BCIM-EC. If the member countries undertake appropriate initiatives to overcome these challenges it could transform itself into a thriving economic belt which will ensure development, eradicate poverty and also ensure a secured and stable South and Southeast Asia.