BIMSTEC Master Plan for Transport Connectivity

Presents a comprehensive 10-year strategy and action plan for improving the subregion's transport linkages across the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) member states.

Format: Paperback / softback
Length: 162 pages
Publication date: 30 June 2022
Publisher: Asian Development Bank

The Master Plan presents a comprehensive 10-year strategy and action plan for enhancing the subregion's transport linkages across the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) member states. It aims to provide a roadmap for actions and foster synergies among various connectivity frameworks, with the ultimate goal of achieving sustainable development for the region. A detailed framework is presented here to organize a comprehensive set of policies, strategies, and projects that will work towards realizing a shared vision of peace, prosperity, and sustainability. Given BIMSTEC's unique geographical position as a bridge connecting South and Southeast Asia, this document holds relevance for its neighboring regions as well. Established in June 1997, BIMSTEC serves as a regional organization dedicated to promoting free trade within the region, increasing cross-border investment and tourism, and fostering technical cooperation.

The Master Plan outlines a comprehensive vision for improving transportation connectivity within the BIMSTEC subregion. It recognizes the importance of enhancing economic growth, promoting regional integration, and addressing social and environmental challenges. The plan identifies specific objectives and strategies to achieve these goals, including the development of infrastructure, the promotion of multimodal transportation, and the enhancement of cross-border trade and investment.

To implement the Master Plan, BIMSTEC member states will work together to develop and execute projects that align with their respective national priorities and strategies. The plan emphasizes the importance of collaboration, information sharing, and resource mobilization to ensure effective implementation. It also recognizes the need for private sector participation and encourages the development of public-private partnerships to finance and implement infrastructure projects.

One of the key objectives of the Master Plan is to improve the transportation infrastructure within the subregion. This will involve the development of new roads, bridges, ports, and airports, as well as the modernization and expansion of existing infrastructure. The plan also emphasizes the importance of improving connectivity between landlocked countries and coastal regions, which will help to promote economic growth and reduce poverty.

In addition to infrastructure development, the Master Plan also focuses on promoting multimodal transportation options. This will include the development of rail and road networks, as well as the promotion of inland water transportation and coastal shipping. By increasing the availability and efficiency of transportation options, BIMSTEC member states will be able to reduce transportation costs, improve access to markets, and promote trade and investment.

Another important objective of the Master Plan is to enhance cross-border trade and investment. BIMSTEC member states have a significant trade and investment potential, and the plan aims to facilitate and promote these activities. This will involve the development of trade corridors, investment promotion agencies, and business forums to encourage cross-border cooperation and investment.

The Master Plan also recognizes the importance of addressing social and environmental challenges in the subregion. This will involve the development of sustainable transportation options, the promotion of renewable energy sources, and the conservation of natural resources. By promoting sustainable development, BIMSTEC member states will be able to achieve long-term economic growth while also reducing their environmental footprint.

To ensure the effective implementation of the Master Plan, BIMSTEC member states will need to establish a robust monitoring and evaluation framework. This will involve the collection and analysis of data to assess the progress of implementation and identify areas where additional support or resources are needed. The plan also emphasizes the importance of public awareness and engagement to ensure that the benefits of transportation connectivity are shared by all members of the subregion.

In conclusion, the Master Plan presents a comprehensive 10-year strategy and action plan for improving the subregion's transport linkages across the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) member states. The plan aims to enhance economic growth, promote regional integration, and address social and environmental challenges. By implementing the proposed projects and strategies, BIMSTEC member states will be able to achieve sustainable development and improve the quality of life for their citizens.

Dimension: 280 x 216 (mm)
ISBN-13: 9789292690694