SASEC Current Affairs

CCEA approves SASEC Road Connectivity Investment Program – Tranche 2

The Cabinet Committee on Economic Affairs (CCEA) has given its approval for upgradation and widening of 65 kms of Imphal-Moreh Section of NH-39 in Manipur.

The Imphal-Moreh Section is a vital link in providing road connectivity up to Thailand and Malaysia. It will boost trade, commerce and tourism in the region.

Key Facts

The project is being developed with Asian Development Bank’s (ADB) loan assistance under the South Asian Sub-Regional Economic Cooperation (SASEC) Road Connectivity Investment Program. It aims at upgradation of road infrastructure in Bangladesh, Bhutan, Nepal and India (BBIN) in order to improve the regional connectivity.

The project corridor is also a part of the Asian Highway No. 01 (AH01).  It will fulfil India’s “Look East” Policy and acts as India’s Gateway to the East. Thus, it will promote and enhance trade link with South East Asia.  The project will also improve connectivity between Imphal with the eastern part of Manipur which is a landlocked state with almost 90% of the area under difficult terrain.

SASEC Road Connectivity Investment Program (SRCIP)

SRCIP is a strategic initiative that aims to achieve regional integration among the members of the SASEC group by improving road connectivity within the North Bengal-North Eastern Region in India. The members of SASEC group are Bangladesh, Bhutan, India and Nepal. 

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SASEC countries pledges to improve intra-regional connectivity to boost trade & tourism

India and six other South Asian countries of South Asia Subregional Economic Cooperation (SASEC) have pledged to improve intra-regional connectivity to boost trade and tourism.

Decision in this regard was taken at the Finance ministers of India, Bangladesh, Bhutan, Nepal, Sri Lanka, Maldives and Myanmar meeting held in New Delhi to reshape SASEC.  They also came out with the SASEC Vision for 2025 and adopted operational plan 2016-25.

Key Facts
  • SASEC Vision: It is a new strategic road map to guide the sub-region’s development through 2025.
  • It reflects member nations’ commitment to tap into latent industrial demand and promote sub-regional industry-to-industry links
  • Operational plan 2016-25: It defines the strategic objectives and operational priorities in transport, trade facilitation and energy as well as for the development of economic corridor.
  • The members are eying for $70 billion incremental GDP and 20 million jobs by 2025 so that SASEC become better, stronger and faster to make South Asia one of the fastest growing sub-regions in the world.
  • Other decisions taken in the meeting: Member countries sought to improve trade of oil and gas among themselves and also enhance road connectivity.
  • They also looked to leverage natural resources-based industries, promote industry-to-industry links and bolster connectivity to boost trade and tourism
  • They also sought to improve people-to-people contact by developing gateways and hubs to expand the sub-region’s trade and commerce to regional and global markets.

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