The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966, which is headquartered in 6 ADB Avenue, Mandaluyong, Metro Manila 1550, Philippines. The bank also maintains 31 field offices around the world to promote social and economic development in Asia. The bank admits the members of the UN Economic and Social Commission for Asia and the Pacific, and non-regional developed countries. Starting with 31 members at its establishment, ADB now has 68 members.
The economy of Bhutan is based on agriculture and forestry, which provide the main livelihood for more than 60% of the population. Agriculture consists largely of subsistence farming and animal husbandry. Rugged mountains dominate the terrain and make the building of roads and other infrastructure difficult. Bhutan is among the richest by gross domestic product (nominal) per capita in South Asia, at $3,491 as of 2022, but it still places 153rd, and among the poorest in the world. The total gross domestic product is only $2,653 million, and 178th according to IMF.
The South Asian Association for Regional Cooperation (SAARC) is the regional intergovernmental organization and geopolitical union of states in South Asia. Its member states are Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka. SAARC comprises 3% of the world's land area, 21% of the world's population and 5.21% of the global economy, as of 2021.
The Economic Cooperation Organization or ECO is a Eurasian political and economic intergovernmental organization that was founded in 1985 in Tehran by the leaders of Iran, Pakistan, and Turkey. It provides a platform to discuss ways to improve development and promote trade and investment opportunities. The ECO is an ad hoc organisation under the United Nations Charter. The objective is to establish a single market for goods and services, much like the European Union. After the dissolution of the Soviet Union, the ECO expanded to include Afghanistan, Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan in 1992.
The South Asian Free Trade Area (SAFTA) is a 2004 agreement that created a free-trade area of 1.6 billion people in Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka with the vision of increasing economic cooperation and integration.
The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is an international organisation of seven South Asian and Southeast Asian nations, housing 1.73 billion people and having a combined gross domestic product of US$5.2 trillion (2023). The BIMSTEC member states – Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand – are among the countries dependent on the Bay of Bengal.
The Greater Mekong Subregion, (GMS) or just Greater Mekong, is a trans-national region of the Mekong River basin in Southeast Asia. The region is home to more than 300 million people. It came into being with the launch of a development program in 1992 by the Asian Development Bank that brought together the six Asian countries of Cambodia, China, Laos, Myanmar (Burma), Thailand, and Vietnam.
The bilateral relations between Bangladesh and Nepal have been progressive since the foundation of Bangladesh in 1971. The two nations are separated by the "Siliguri Corridor" - a 22 kilometres (14 mi) wide stretch of territory of the Indian state of West Bengal that lies between southern Nepal and northern Bangladesh. Both South Asian nations are members of the South Asian Association for Regional Cooperation (SAARC), the Bay of Bengal Initiative for MultiSectoral Technical and Economic Cooperation (BIMSTEC), and the United Nations (UN).
Secretary-General of the South Asian Association for Regional Cooperation is head of a SAARC Secretariat, which is headquartered in Kathmandu, Nepal. SAARC is an economic and geopolitical union between the eight South Asian member nations, Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka. Secretary-General is appointed for a three-year term by election by a council of Ministers from member states. Secretary-General is assisted by eight deputies, one from each nation, who also reside in Kathmandu. SAARC Secretariat was established in Kathmandu on 16 January 1987 by Bangladeshi diplomat Abul Ahsan, who was its first Secretary-General, and was inaugurated by King Birendra Bir Bikram Shah of Nepal. Since its creation, its member nations have contributed to a total of fourteenth General Secretaries. Golam Sarwar from Bangladesh is the current Secretary-General of SAARC, having assumed charge on 4 March 2023.
The eighteenth summit of 'South Asian Association of Regional Cooperation' (SAARC) was held in Kathmandu, the capital of Federal Democratic Republic of Nepal during 26–27 November 2014. The theme of the summit was Deeper Integration for Peace and Prosperity, focused on enhancing connectivity between the member states for easier transit-transport across the region. Sushil Koirala, the then Nepalese prime minister, was the main host of the event which took place in Rastriya Sabha Griha The summit took place after an interval of three years as the previous summit was held in 2011 in Maldives.
Declaration of 18th SAARC Summit was made during SAARC Summit 2014 in Nepal.The 18th SAARC summit was held in Kathmandu, Nepal from 26 to 27 November 2014. The state heads of eight SAARC member countries along with their delegations had meeting during the Summit and discussed the agendas of SAARC. The discussions on previous implementations was made by the delegations before the summit. They Recognized that after nearly thirty years of their existence in SAARC, it was time to reinvigorate SAARC's regional cooperation and revitalize SAARC as an effective vehicle or the medium to fulfill the developmental aspirations of the peoples of South Asia; Determined to deepen the regional integration for peace and prosperity by promoting mutual trust, amity, understanding, cooperation, teamwork to develop the partnership that would help the countries to develop;the 18th SAARC summit Declaration was made.And They planned to do the 19th SAARC summit in Pakistan..
Neighbourhood First Policy of India is a core component of India's foreign policy. It focuses on peaceful relations and collaborative synergetic co-development with its South Asian neighbours of the Indian subcontinent encompassing a diverse range of topics, such as economics, technology, research, education, connectivity, space program, defence security, environment and climate challenge. This policy creates new avenues as well as leverages to the existing regional cooperation initiatives such as SAARC, SASEC, BBIN, and BIMSTEC. It compliments India's Look East policy focused on Southeast Asia and Look West Policy focused on Middle East.
The Bangladesh, Bhutan, India, Nepal (BBIN) Initiative is a subregional architecture of countries in Eastern South Asia, a subregion of South Asia. It meets through official representation of member states to formulate, implement and review quadrilateral agreements across areas such as water resources management, connectivity of power, transport, and infrastructure.
SAARC Chamber of Commerce and Industry, recognized as a regional apex trade body by South Asian Association for Regional Cooperation is a constellation of the eight national Federation Chambers of Commerce and Industry of the member states of SAARC. The rationale behind the creation of SAARC Chamber of Commerce and Industry of the SAARC countries was to promote trade and industry in the region and to develop and achieve common objectives in the areas of trade and industry, moreover, the SAARC Chamber of Commerce and Industry is also accepted as the voice of the private sector across the region.
Visakhapatnam–Chennai Industrial Corridor (VCIC), also Vizag–Chennai Industrial Corridor, is a key part of the East Coast Economic Corridor (ECEC), India's first coastal corridor. VCIC is aligned with the Golden Quadrilateral and is poised to play a critical role in driving India’s Act East Policy and Make in India campaign. The nearly 800-kilometer corridor links India with the Association of Southeast Asian Nations (ASEAN) and East Asian economies that form the bedrock of global manufacturing economy. The corridor traverses nine districts of the state of Andhra Pradesh. VCIC intends to complement the ongoing efforts of the Government of Andhra Pradesh (GoAP) to enhance industrial growth and create high quality jobs.
The East Coast Economic Corridor (ECEC) is India’s first coastal economic corridor, covering 2500 km of India's coastline, to be developed with the help of the Asian Development Bank (ADB). The ADB is to invest $500 million in infrastructural development of the project. Since late 2013, ADB has been supporting studies on transport corridors in India. Phase 1 of the ECEC is Visakhapatnam-Chennai Industrial Corridor (VCIC) which had been approved by the ADB board in October 2016. The ECEC running along the entire east coast of India from Kolkata to Kanyakumari, is a multimodal, regional maritime corridor that can play a vital role in unifying the large domestic market, as well as integrating the Indian economy with the dynamic global value chains of Southeast and East Asia. It would play a crucial role in the Government of India’s (GoI) Make in India campaign and also supports the port-led industrialization strategy under the Sagar Mala initiative and the Act East Policy by linking domestic companies with the vibrant global production networks of East and Southeast Asia.
Eastern South Asia is a geographical area in South Asia, in the eastern part of the Indian subcontinent. It includes the countries of Bangladesh, Bhutan, India and Nepal. Geographically, it lies between the Eastern Himalayas and the Bay of Bengal. Two of the world's largest rivers, the Ganges and the Brahmaputra, flow into the sea through the Bengal region. The region includes the world's highest mountainous terrain, the Himalayas, and the world's largest delta, the Ganges Delta, and has a climate ranging from alpine and subalpine to subtropical and tropical. Since Nepal, Bhutan, Northeast India and parts of East India are landlocked, the coastlines of Bangladesh and East India serve as the principal gateways to the region.
The Economic and Social Commission for Asia and the Pacific, East and North-East Asia Office was inaugurated on 17 May 2010 in Incheon, South Korea. Since its establishment, the Office has been working closely with six member States and two associate members to build and strengthen partnerships and cooperation for inclusive and sustainable development in the subregion.
Sub-regional Co-operation Cell is a Bangladesh government agency under the Prime Minister's Office. It is responsible for managing relationship in the Bangladesh, Bhutan, India, Nepal sub regional initiative.
