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BCIM: Forging a common platform for cooperation

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The Bangladesh-China-India-Myanmar Economic Corridor (BCIM-EC) is a sub-regional initiative for economic cooperation among the four Asian countries for developing multimodal connectivity that would link East, Southeast and South Asia.

The BCIM-EC was initially conceptualised by the think-tanks, academics and civil society members of Bangladesh, China and India, which later received political support from the partner countries. It first got attention of the member-states at the Kunming Initiative in 1999. Although the initial objective of BCIM was development of multimodal infrastructural connectivity through  rail, road, water ways and air links, but an upgraded version  of BCIM Forum has proposed greater access to the corridor for member countries and facilitation of multilateral trade, investment and joint venture industries in the specific economic growth zone. As such, BCIM has by now emerged as a larger forum of sub-regional cooperation for development of the constituent states through complementary industries.

The interesting dynamics of BCIM has led to a shift in the ownership of the initiative. The idea of BCIM was conceived by the think-tanks of Bangladesh and China. The Centre for Policy Dialogue (CPD) of Bangladesh first started an initiative aimed at fostering closer integration among these nations. Later, the initiative became known as the BCIM Forum. The initiative from its very beginning was influencing policy-makers for establishing closer transport connectivity among the four Forum countries, in order to facilitate development and easy movement of goods and services within the region. But unfortunately, the political context at that time was not friendly. As a result, implementation of the idea was difficult. CPD and its partners then took up the challenge to pursue the path of economic cooperation and dialogue in order to bring their vision to fruition.

The four constituent countries of BCIM Forum have now agreed on the common consensus for sub-regional economic growth, even though some conflicts exist on the idea of the corridor. India fears that the BCIM is a mechanism designed simply to facilitate Chinese import of natural resources and export of their processed goods to the region. India's massive trade deficit with China continues to be a factor in India's assessment of the BCIM. Contrary to India's cautious stand, China is looking for immediate action and commitment to the initiative. China may also be facing domestic pressure over bringing its Belt and Road Initiative to fruition, of which BCIM is a part.

Conceived as a sub-regional forum for economic cooperation, two prominent objectives have driven forward the BCIM initiative since the beginning. Firstly, economic integration of the sub-region would also enable integration of Asia. Secondly, it would help develop the border regions. The BCIM agenda of priorities has evolved over time. From the 3-T's of Trade, Transport, and Tourism, the BCIM priority agenda has moved to TTE (Trade, Transport, and Energy). Apart from these items, social, cultural and environmental issues were also brought to the table for discussion, but the focus has increasingly shifted to trade, connectivity and energy cooperation.

Some proponents continue to argue for bringing back the "soft" agenda to the BCIM dialogue, as this is seen "more feasible" in the sub-region and will have direct positive impact on the livelihoods and aspirations of the teeming millions in the borderlands. The idea of multi-modal transportation was also added to the BCIM connectivity agenda with the focus on Inland Water Transportation and the promotion of port development and coastal shipping.

Many observers in South Asia see the BCIM initiative as "an emerging opportunity", which can be a "game changer" for the region. Such assessments are clearly driven by the prospects of economic benefits at a time when bilateral trade in the BCIM countries are growing rapidly in recent years. However, there are other issues and challenges that are still at play when the initiative is seen through the political prism. Some issues have been inherent in the BCIM initiative since its inception. Involvement of governments in the BCIM initiative has not undergone much change in terms of both attitude and the level of participation.

During the 13th China South Asia Business Forum (13th CSABF) meeting held on June 13-14, 2018 in Kunming, China, the issue of industrial cooperation received special attention of the participating business leaders from Southeast Asia. CCPIT, Kunming organized a Round-Table on the topic "Industry Forum: BCIM in the Future and Cooperation between Complimentary Industries". Business leaders from various sectors took part in the round-table, where Bangladesh Indenting Agents' Association was a panel discussant.

Complimentary industrial cooperation between the BCIM countries got special attention in the Industry Sub-Forum for the balanced socio-economic growth in the sub-region. Specific advantages and disadvantages of economic development could be identified for Bangladesh, China, India and Myanmar. China has got a long experience in manufacturing industries and the construction of infrastructure. Bangladesh and Myanmar, on the other hand, need advanced technologies in their countries, although they have abundant supply of manpower and natural resources. On the other hand, India has important advantages in service, software and bio-pharma industries as well as heavy manufacturing industries. It may be noted that there exists apprently little scope for complimentary cooperation in the industrial sector. But there is vast scope where Bangladesh, China, India and Myanmar can develop their economy based on cooperation and collaboration among complimentary industries in place of unusual competition between themselves.

Bangladesh Indenting Agents' Association (BIAA) is organising B2B meetings for relocation of Chinese labour intensive and hi-tech industries to Bangladesh. It is high time that the BCIM Forum forge a common platform for cooperation in implementing the feasible ideas for balanced and sustainable development of the region. The constituent countries can also use the BCIM platform for resolving the major impediments to mutual cooperation.

Pankaj Chandra Das is Secretary, Bangladesh Indenting Agents' Association. [email protected]

 

 

 

 

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