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WELCOME TO OUR PRESENTATION
PARTICIPATION OF BANGLADESH IN ECONOMIC INTEGRATION:
(BIMSTEC AND BCIM)
Group Profile
Serial Number
Name ID Remarks
01 MAHEDUL ISLAM 19-054
02 KHALED MAHMUD JAVED 19-082
03 MAHFUZUR RAHMAN 19-084
04 MOUMITA HALDER 19-094
05 SHAHAJADI ANJUMAN ARA 19-136
Shahajadi Anjuman Ara Id-No: 19-136
Economic integration is the unification of economic policies between different states through the partial or full abolition of tariff and non-tariff restrictions on trade taking place among them prior to their integration.
Among various economic integrations we are going to discuss :
WHAT IS AN ECONOMIC INTEGRATION
BCIM
BIMSTEC
Background In June 1997, a new sub-regional grouping was
formed in Bangkok and given the name BIST-EC (Bangladesh, India, Sri Lanka, and Thailand Economic Cooperation). Myanmar attended the inaugural June Meeting as an observer and joined the organization as a full member at a Special Ministerial Meeting held in Bangkok on 22 December 1997, upon which the name of the grouping was changed to BIMST-EC.
Objectives of BIMSTEC
To create an enabling environment for rapid
economic development.
To promote and mutual assistance on matters of common interest in the economic, social, technical and scientific fields.
To maintain close and beneficial cooperation with existing international and regional organizations with similar aims and
purposes.
To promote active collaboration
Khaled Mahmud JavedId-No: 19-082
BIMSTEC PRIORITY SECTORS
1ST SIX PRIORITY SECTORS
SEVEN NEW PRIORITY SECTORS
Trade and Investment, led by Bangladesh
Transport and Communication, led by India
Energy, led by Myanmar Tourism, led by Thailand Technology, led by Sri
Lanka Fisheries, led by
Thailand
Agriculture, led by Myanmar Public Health, led by Thailand Poverty Alleviation, led by
Nepal Counter-Terrorism and
Transnational Crime, led by India
Environment and Natural Disaster Management, led by India
Culture, led by Bhutan People to People contact, led
by Thailand Climate change, led by
Bangladesh
EXPORT PERFORMANCE
1994-1995
1995-1996
1996-1997
1998-1999
2000-2001
2002-2003
2004-2005
2006-2007
2008-2009
2010-2011
2011-2012
2012-2013
2013-2014
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
7.00%
Total export of Bangladesh to BIMSTEC countries were BDT238.95 Crore in 1994-95 which was increased to BDT2159.30 Crore by the year 2014.
Figure:Contribution of total export from BIMSTEC
IMPORT PERFORMANCE Import of Bangladesh had been influenced by the BIMSTEC. The total import of Bangladesh from BIMSTEC countries was BDT4141.89 Crore on an average per year .
Figure:Contribution of total import from BIMSTEC
1994-1995
1995-1996
1996-1997
1998-1999
2000-2001
2002-2003
2004-2005
2006-2007
2008-2009
2010-2011
2011-2012
2012-2013
2013-2014
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
Mahfuzur RahmanId-No: 19-084
The export/import coverage express the trade balances in terms of a ratio of its components rather than a difference, the export/ import coverage is the ratio of total exports to total imports.
Details Bhutan India Myanmar Nepal Sri Lanka Thailand
Before
Average 0.06 0.03 0.54 9.76 0.58 0.11
STDEV 0.03 0.01 0.39 16.32 0.5 0.07
After
Average 0.3 0.06 0.1 7.07 1.11 0.09
STDEV 0.19 0.02 0.1 19.3 1.65 0.07
Export-Import Ratio
BCIM (Bangladesh –China-India-Myanmar)
The Bangladesh–China–India–Myanmar Forum for Regional Cooperation (BCIM) is a sub-regional organization of Asian nations aimed at greater integration of trade and investment between the four countries.
Connectivity and
infrastructure Energy resourcesTrade and
investment
Agriculture
Purposes of BCIM
Mahedul IslamId-No: 19-054
Benefits from BCIM In view of the ongoing pace of globalization
formation of sub-regional forums or Growth Zones could play an important role from the perspective of strengthened global integration of the member countries of the Growth Zones.
Easy market access. Widened scope for realizing complementarities
among countries of the grouping. Better utilization of land, labor force, available
natural resources. Economic development within and outside the
zone. Exchange of technology.
Recent initiatives and potentials of BCIM
New Silk Road (Bangladesh expects business boom as 4 countries to build transnational
highway)
Joint fund for BCIM (22Billion-project for better economic benefits)
Joint fund for BICM
45%
55%
Sources Of fund
Governments Private sectors
Multilateral development partners
Moumita Halder Id-No: 19-094
New Silk Road Bangladesh, India, China and Myanmar
are likely to sign an agreement to build a transnational highway that will eventually turn Bangladesh into a hub of connectivity between South and Southeast Asia.
POSSIBILITIES
The K2K (Kunming-Ruili-Bhamo-Lashio-Mandalay-Tamu-Imphal-Sylhet-Dhaka-Kolkata) route offers the best condition to be used as the corridor, according to a concept paper on the BCIM-EC. The country can benefit immensely from regional cooperation on energy.Bangladesh can also increase trade with Myanmar, as the two countries share a border.It can also gain similar benefits from China and India.It got a boost last year when China and India showed interest in utilizing the BCIM framework for enhancing connectivity in the region.