TNPSC Current Affairs April 2017
Myanmar becomes
SASEC's 7th member.
Myanmar has formally become the 7th member of South Asia Sub-regional Economic Cooperation
(SASEC) programme of Asian Development Bank (ADB).
In 2013 Myanmar was granted the observer status of SASEC and
since 2014 Myanmar was participating in annual SASEC Nodal Officials meetings
as an observer.
Benefits:
Shaktikanta Das
,Economic affairs secretary said that Myanmar is the key to realizing greater
connectivity and stronger trade and economic relations between the SASEC
sub-region and the countries of East and Southeast Asia and that Myanmar's
membership in SASEC can offer a host of opportunities for realizing synergies
from economic cooperation in the sub-region
Myanmar’s inclusion is expected to promote and accelerate
inter-subregional cooperation between South Asia and Southeast Asia and will
contribute the future development goals
of the regions.
The port of Myanmar
will provide alternate route to India's landlocked north-eastern region of
India.
Indian Ministry said, Development of multi-modal
connectivity between North Eastern region of India, Bangladesh and Myanmar has
the potential of unleashing tremendous economic energy and better livelihood in
the region
About SASEC
South Asia Sub-regional Economic Cooperation was established in 2001 for assist
in facilitating economic cooperation between Bangladesh, Bhutan, India and
Nepal headquarters is in Manila, Philippines. In 2014 Sri Lanka and Maldives
has joined. Currently it has 7 members which includes Myanmar in 2017.
The motto of SASEC is to improving cross-border
connectivity, boosting trade among member countries, and strengthening regional
economic cooperation. Asian Development Bank act as the secretariat for SASEC member
countries.
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