Discuss the ways and means to realise greater economic co-operation among the Member States of South Asia. (UPSC CSE Mains 2022 - Political Science and International Relations, Paper 2)
South Asia is the southern region of Asia, which is defined in both geographical and ethno-cultural terms. The region consists of the countries of Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka. India''s vision of regional economic integration in South Asia is based on enhanced intra-regional trade, investment flows and regional transport and communication links in South Asia.
Regional economic cooperation in South Asia is lower than optimal levels is well accepted. It is usually ascribed to – the asymmetry in size between India and the rest, conflicts and historical political tensions, a trust deficit, limited transport connectivity, and onerous logistics, among many other factors.
Ways and means to realise greater economic co-operation
- Strengthening Existing Associations:Existing associations like South Asian Association for Regional Cooperation (SAARC) haven’t been able to significantly advance regional cooperation here. Delinking domestic sentiments from the economic rationale, engaging in diplomacy to allay concerns should be the way forward for South Asian countries which do have qualms about the integration.
- Towards Self-Reliant South Asia:Self-reliance of South Asia range from offers of freer transit trade through the region, the development of supply and logistic chains, digital data interchange, single-window and digitized clearance systems, risk assessment and minimisation measures, wider use of trade lines of credit (presently abysmally low), denser connectivity, smoother cross-border inspections.
- People-to-people Connect:Priority should be given to people-to-people connections and deep cultural affinities for sustained cordiality and stability. Further, focus should be given to prompt delivery of multilateral commitments for the overall development of the region.
- Countering Terrorism:Countries in the region needs to improve their cooperation on intelligence sharing and law enforcement, in order to more effectively target terrorist networks and disrupt their operations.
- Additionally, addressing poverty and inequality, and promoting economic development and opportunities for marginalized groups, can help to reduce the appeal of extremist ideologies.
Deepening regional integration requires sufficient policy-relevant analytical work on the costs and benefits of both intra-regional trade and investment. An effective cross-border network of young professionals can contribute to fresh thinking on emerging economic cooperation issues in South Asia.
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