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.