Abstract:
Being neighbors, both Bangladesh and Myanmar (formerly Burma), although they possess potential opportunity for political and economic integration, have very limited economic, geographic and strategic cooperation over time. There are some key factors- long standing disputes over maritime boundary (now resolved) and the Rohinga Refugee problem over the decades, behind this unwillingness for being liberal in economic transactions through business and trade. Also the border (land) between Bangladesh and Myanmar occupies significant attention. This border is viewed as one of the top smuggling routes of the world. The South Asian Association for Regional Cooperation (SAARC) for political and economic cooperation in South Asia, was given its institutional and organizational framework in 1985. SAARC is an economic and geographical organization comprised of eight countries- Bangladesh, Bhutan, India, Nepal, Maldives, Pakistan, Sri-Lanka and Afghanistan of South and Southeast Asia, consisting of 21% of the world’s total population and occupy 3% of the world’s area. In terms of GDP, the economy of SAARC represents the third largest in the world. Based on the aim “to work together in a spirit of friendship, trust and understanding” and “to accelerate the process of economic and social development in member states,” SAARC has been becoming a hub of international attention for political, economic and geographic integration. Being included in SAARC, Myanmar will be able to expand its business and trade horizons in wider aspects, which in turn will benefit its national economy. On the other hand, as a neighbor, Bangladesh will be able to gain its market in Myanmar. As Bangladesh and Myanmar have very good ways of communication (both land and water), both the countries can gain the most from the economic integration. Combined sea-ports for both countries can be the landmark for further development in trade and commerce with the rest of the globe. The mutual off-shore resource exploration and exploitation can build the base for escaping the fuel crisis. And finally, this, in turn, will be coordinated with ASEAN, BIMSTEC and BCIM as well.
