Forging Stronger Economic Ties between India and Myanmar International Conference to Commemorate the 20th Anniversary of ASEAN- India Co-operation,Seamless Integration into the Third Decade – Building on Two Decades of ASEAN-India Partnership, Chulalongkorn University Tin Htoo Naing (2012) Introduction Asian economies have been moving towards deeper regional integration to enjoy growth together and to share prosperity since the 1990s. Southeast Asia, India and China, the fastest growing and most dynamic regions, must capitalize on their partnership through enhanced connectivity and stronger cooperation to reap the benefits most. In this scenario, Myanmar is the only land bridge between Southeast Asia, China and India so that the country has a great potential to be an important player in shaping future economic, political and security environment in this region. Since Myanmar began opening up in 2011, Myanmar has been in the process of instituting a series of policy and strategic reforms with the aims of achieving national development and catching up with the economic success of neighboring countries. Meanwhile, India demonstrates its economic and technological capacities to compete in the 21st century. As India has aimed to transform to become a developed nation by 2020, it has continued to implement domestic reforms and initiatives for further integration with the regional and global economy. India’s ‘Look East’ policy which began in the early 1990s meant that the country had already started to engage more with Myanmar in a bid to begin its globalisation strategy with its near-neighbours. However, underdeveloped infrastructure and unfavorable institutional and business environment seriously limit economic cooperation between India and Myanmar. Strengthening economic cooperation through better connectivity in all means namely material, institutional and people-to-people connectivity will allow Myanmar, India and then, the other South East Asian countries to raise possibilities for collaboration between them and to expand economic synergies for development in the region.
Posted on: Tue, 29 Jul 2014 06:50:33 +0000
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