The Indo-Pacific region has a high growth trade and economic potential that can reshape the model of development, speakers said on Monday.
They also said that the Association of Southeast Asian Nations (ASEAN) can play a vital role to tap the true potential of the Indo-Pacific region.Speakers made the remarks at a session titled ‘The Dhaka Consensus: Growth and Development in the Indo-Pacific’ held on the opening day of the three-day ‘Dhaka Global Dialogue 2019’ in the city.
Bangladesh Institute of International and Strategic Studies (BIISS) and India’s Observer Research Foundation (ORF) are jointly organizing the dialogue, which was inaugurated by Prime Minister Sheikh Hasina at InterContinental Dhaka.
Moderated by ORF president Samir Saran, State Minister for Foreign Affairs Md Shahriar Alam, Indian Janata Party general national secretary Ram Madhav, Australian High Commissioner to Bangladesh Julia Niblett and International Security Studies Department, Royal United Services Institute research fellow Veerle Nouwens spoke at the session.
Speaking at the session, Md Shahriar Alam said this is the chance for Indo-Pacific countries to reshape cooperation in the fields of trade, economy and maritime.
Narrating a set of challenges, State Minister said, “We need to remove trade barriers, greater cooperation, we need to create a conducive business environment and we should reinvent the wheel”.
He also said ASEAN is a major player for Indo-Pacific success and countries outside ASEA should be given chance to play more role in the forum.Mentioning Indo-Pacific as natural bonding, Shahriar Alam said investment in institutions is required to propel the growth further.
BJP general national secretary Ram Madhav said the indo-pacific is a natural region which has not been created by any nation.
“Around 50 per cent of the global population lives here, 60 per cent of the global GDP is produced here; the fastest-growing nations are here, 60 per cent container trade happens here, 80 per cent energy trade happens here. It is the most tangible region today,” said Ram Madhav.
“Let all be part of it,” he said.