In many parts of the world, cooperation efforts have moved from large regional groupings to localised, sub-regional ones, engaging two or more countries or specific regions. As a corollary, the concept of ‘growth triangle’ has emerged, where two or more countries cooperate for collective economic development, through trade and investment linkages and using specific
measures such as investment zones. The Bangladesh, Bhutan, India and Nepal (BBIN) is an excellent initiative to strengthen integration in the sub-region, especially with their signing of the Motor Vehicle Agreement (MVA). Hopes for the success of BBIN have multiplied, particularly in the backdrop of the emerging limitations of an earlier regional grouping, the South Asian
Association for Regional Cooperation (SAARC). Indeed, the success of BBIN is crucial for regional integration in South Asia; it is an important step for moving in the direction of peace, progress and prosperity in the region.

Dr. Sachin Chaturvedi is Director General at the Research and Information System for Developing Countries (RIS), a New Delhi based think tank.

• Neighbourhood
• Developing and Emerging Economies
• Transportation
• India
• Neighbourhood

The views expressed above belong to the author(s). ORF research and analyses now available on Telegram! Click here to access our curated content — blogs, longforms and interviews.

PREV NEXT