BEWARE OF FAKE INSTITUTES WITH SIMILAR NAMES. blank    blank

What is South Asia Subregional Economic Cooperation (SASEC)?

  Apr 09, 2017

What is South Asia Subregional Economic Cooperation (SASEC)?

About
The SASEC program was formed in 2001 in response to the request of the four countries of South Asia – Bangladesh, Bhutan, India and Nepal – from ADB to assist in facilitating economic cooperation among them. These four countries comprise the South Asia Growth Quadrangle (SAGQ), formed in 1996, as a vehicle for accelerating sustainable economic development through regional cooperation.

Aim
As a project-based partnership, the SASEC program has been helping realize regional prosperity by enhancing cross-border connectivity, facilitating faster and more efficient trade and promoting cross-border power trade. Maldives and Sri Lanka joined SASEC in 2014, further expanding opportunities for enhancing economic linkages in the sub-region. 

Priority sectors
SASEC countries agreed on priority sectors for investment and coordinated action New member
  1. Road corridors in Myanmar provide the key links between South Asia and Southeast Asia.
  2. Ports in Myanmar will provide additional gateways to the landlocked North Eastern region of India.
Energy trade Moreover, developmental impacts of economic corridor in the SASEC sub-region will be maximized by exploring potential synergies with corridors in Myanmar that are linked to those in other Southeast Asian countries.

Secretariat
ADB serves as the SASEC Secretariat, working with member governments to help implement SASEC projects and initiatives and to provide technical support. The SASEC Secretariat also coordinates capacity-building activities and works to identify necessary technical organizations and development partners to strengthen training and knowledge-building programs for member countries. It provides overall coordination, administrative and logistical assistance to the member countries.