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Bangladesh showed a remarkable and superior industrial dynamism in terms of development of manufacturing industries andenhancement of industrial competitiveness, saysastudy report.
Despite being a least developed economy of the region, Bangladesh's growth performance appears to be on the high side and there is a sign of a convergence of all economic structures to a common goal in this region, said the 'South Asia Development and Cooperation Report.'
The report, launched at a seminar on Tuesday at the BARC auditorium in the city, said although the region suffered a slow down in growth over the past few years for both external and domestic problems, its outlook again appeared bright.
The overall regional growth may be 6.9 per cent this year and 7.2 per cent next year, said the report adding that South Asia is now the second fastest growing region in the world after China.
The most striking feature of the regional growth is its broad based nature taking all the economies of the SAARC member states together displaying noticeable growth dynamism and strength.
The report also spoke for, among others, a common transport policy, an open sky policy, creation of South Asian monetary and economic union, a parallel currency for all countries as a prelude to a common currency.
It referred to restructuring of industries on efficiency basis like Sri Lanka may concentrate and emerge as a regional hub for rubber based industries, Bangladesh for energy-intensive industries and Bhutan for forest based industries.
The day-long seminar, jointly organised by South Asia Centre for Policy Studies (SACPS) in collaboration with the Centre for Policy Dialogue (CPD), a local research organisation and New Delhi based Research and Information System (RIS), also took stock of the follow up of the SAARC summit decisions concerning SAFTA and Energy Cooperation.
Foreign minister M Morshed Khan, speaking on the occasion as chief guest, said the landmark decision at SAARC Islamabad summit has put everything in this region on a path to closer regional integration to end in a common market, a common future.
He said the SAARC leadership has at last spoken burying bitter past and the wind of friendship has started blowing. But to what extent this can be used to meet peoples expectations is now the open challenge, he said
"There is no chance for back-gear but moving forward to exploit the new opportunities," Khan said, stressing on enhanced efforts by all to take home every benefit of joint collaboration, be it trade or energy, poverty reduction or facing external challenges like the WTO.
Referring to Indian election, the foreign minister said, we salute the people's verdict and hope it would ensure continuity of policies having regional bearing. Pointing to inter- connectivity of actions, he said a small back dragging in some reforms in one country may cause similar slowdowns in other countries in a region.
Adviser to foreign ministry Reaz Rahman also spoke on the occasion with Professor Rehman Sobhan in the chair.
Nagesh Kumar, director general of the RIS, presented the South Asia Development and Cooperation report that followed open floor discussion.
Indian High Commissioner Veena Sikri, EU ambassador Esko Kentrschynskyj and noted economist Dr Debapriya Bhattachariya spoke among others in the opening round.
Veena Sikri emphasised the need for transit and easy transport facilities for quick movement of goods and services in the region. The European nations are enjoying such facilities, she cited.
The Indian envoy also stressed the need for intra-regional investment while another participant suggested the launching of a SAARC Investment Bank to promote trade and development.