Mr. Sunjoy Joshi, Chairman, ORF

Dear moderator, Mr. Nahim Razzaq, MP,

Excellencies

Ladies and gentlemen

Assalamu Alaikum and Good afternoon.

It’s my pleasure to join you once again.

For our discussion now, three issues are particularly important. First the formation and existence of the several parallel regional initiatives and the second one is the convergence or coming together of the objectives and actions of these initiatives so that we may avoid duplication and also gain from the concerted efforts. Third one is that, when we talk about ‘’the region’’, under the ambit of this Dhaka event, we understand that it is rather ‘Indo-Pacific’ or in other terms, Asia-Pacific region. Considering the background and the ambit of our discussion, I will better discuss the regional initiatives based on economic, social and development issues and would avoid the political and strategic coalitions. In the recent times, profound changes have taken place all over the world in terms of organized or official regional initiatives. For example, at the WTO, more than 750 notifications were deposited for different active and non-active regional arrangements and 302 regional economic arrangements on economy alone are now active in different parts of the world. So, countries find it beneficial to come together and to form alliances and coalitions for reaping benefit out of their common initiatives and resources. Our region, Indo-Pacific is the most vibrant and growing region in the world. It is home to 65 percent of the world’s population and generating 62 percent of the global GDP. We expect that the ‘Asian Century’ will actually design the next global century.  However, it is the same region which also has the highest number of poor people and is divided by race, colour, religion, level of development and geography. So, we need to innovatively use the current socio-economic landscape (as we cannot change it) and the resources of our region to achieve sustained economic growth and significant improvement in social conditions for bringing greater prosperity for our people.

Our region is witnessing significant changes in all aspects of our societies and economies. Changes are also visible in the ways we cooperate with each other. Clearly, regional cooperation is gaining increasing momentum. It is to create the basis for deeper understanding and sustainable development and also to pave ways for integration of economies around our sub-region. As the focus of growth is increasingly shifting to Asia-Pacific Region, the countries are engaging in cooperative initiatives within a number of other regional economic groupings or processes.

In South Asia, through SAFTA, regional trade in goods and services is expected to rise robustly over the next few years. In South-East Asia, by next year, ASEAN would emerge as a seamless economic space up to Myanmar. Under ESCAP, Asia-Pacific regional economic integration is moving to a next level. BCIM is shaping up with promise to unlock production–distribution-transportation opportunities. Chinese ambitious BRI is already in place to connect Asia with Africa and Europe through land and maritime networks. The Indo-Pacific strategy is also in progress.

As I mentioned earlier regarding the popularity and requirement of having regional arrangements and initiatives, in today’s globalized world, no single country can prosper alone. What we need is to work closely - by drawing on each other’s strength, capabilities and endowments.

Friends,

In a number of ways, the southern economies are witnessing transformation. These realities have been attracting countries of the South to increasingly form cooperative engagements: be for trade in goods or services or, for overall social and economic development or, as combination over a wider menu. This is an increasing reality across the South. Therein, the Asia-Pacific region has seen emergence of largest number of regional arrangements e.g. RTAs. Regional /sub-regional collaboration within the South are premised on a set of core values /principles i.e. solidarity, friendship, mutual trust, mutual respect, mutual benefit, equitable sharing of benefits, win-win outcome. Irrespective of the thrust or modality for regional cooperative frameworks/platforms, the underlying purpose of the countries in the south has been to accelerate sustained, inclusive growth as well as sustainable development focussed on people's lives and livelihoods.

It is in this context that majority of the regional connectivity frameworks/platforms/initiatives these days place accent on collaboration in trade, (multimodal) transport, energy, trade facilitation. Regional/sub-regional connectivity is viewed to complement the national initiatives in such critical sectors by improving the weaker links or developing the missing links.

As all our problems now-a-days have cross-border repercussions, regional efforts also contribute to achieve and sustain ‘peace, stability and progress’ within all communities under the coverage of regional frameworks. This is perhaps eminently captured in a wider consensual articulation of ‘connectivity’ viewed in an all-encompassing sense i.e. connecting and creating bridges for ideas, knowledge, culture, language, people, road-rail-air, technology, movement of goods-services-investment.

Many of the challenges that our region faces today, can best be addressed through collective efforts. Trade and trade facilitation are increasingly becoming the key to our mutual prosperity. There is enough evidence that increased intra-regional trade in our region can help sustain our individual country’s growth and support eradication of poverty.

Bangladesh is open to any global and regional initiative which is economic in nature and helps economic development.

Ladies and gentlemen,

Bangladesh approaches connectivity in a wider sense: to connect and create bridges for ideas, knowledge, innovation, culture, people, institutions, road-rail-air, technology, movement of goods–services–investment, energy and power. People and their regular movement are at the centre of all our endeavours of any form of connectivity. Connectivity ensures minimum 2% additional growth by improving the quality of life and ending isolation. Connectivity is equally about securing well-being, dignity and realizing the right to development for our people and communities, especially for the people at the grassroots. It is also about realization of sustainable development. Historically, connected regions always contribute to securing peace and stability across communities. It is a key priority in the foreign policy of Bangladesh to collectively take advantage of the resources and opportunities of the region and to counter unitedly the challenges. Trans-national crimes, climate change, terrorism, protectionism, migration all these important issues can be effectively managed only through convergence of regional initiatives.

Under the visionary leadership of Hon’ble Prime Minister Sheikh Hasina, Bangladesh has been intensely pursuing regional integration for economic cooperation with the countries in South Asia and in SouthEast Asia through SAARC and BIMSTEC process. We have signed SAFTA, SAARC Motor Vehicle Agreement, SAARC Railways Agreement and BIMSTEC FTA to foster regional connectivity. Bangladesh is also very proactive in other regional initiatives like ASEM, CICA, ACD and ARF.

Dear guests,

In conclusion, I will reiterate a few things for the common peace and prosperity of our region. First is of course to create an environment of peace-harmony-stability of all countries and we have to focus on the entire menu of sustainable development. Next, we have to engage among ourselves based on mutual trust and mutual respect for mutual benefit. Then our wealth creation must be for all with fair distribution. Lastly, we need to have fair competition but not geo-strategic or political rivals

We must guard against the tendency to look at this region in respect of trade or security issues only. We often look just in terms of the capacity of a few large economies or their needs. But, we must get the narrative right: addressing the key concerns of smaller communities or relatively weaker economies is a must in our collective journey, for any sustainable world. Countries should be engaged based on mutual trust and mutual respect, for mutual benefit.  I thank you all.