Experts call for deeper regional integration to unlock South Asia’s trade potential

South Asia remains one of the least economically integrated regions in the world, with intra-regional trade accounting for less than six percent of total trade, said Monzur Hossain, member (secretary) of the General Economics Division (GED) of the Planning Commission, at a programme today.

Hossain said reducing non-tariff barriers, improving logistics, and strengthening cross-border transport and digital connectivity could unlock vast opportunities for trade and investment across the Saarc region.

He made the remarks while speaking as the chief guest at a two-day consultative workshop on the preparation of the first Saarc Development Report (SDR) at the InterContinental Dhaka, according to a press release.

He commended the Saarc Secretariat for facilitating the consultation and emphasised that "The Saarc Development Report must not remain a formality; rather, it should be prepared with thorough analysis, broad consultation, and implemented efficiently to make a real impact on people's lives."

Organised by the GED of the Planning Commission, the workshop, titled "SDR 2025: Shaping the Future Together for a Resilient Saarc", was coordinated by the Ministry of Foreign Affairs and the Saarc Secretariat, with technical and logistical support from the Asian Development Bank (ADB).

Delegates from Bangladesh, Bhutan, the Maldives, Nepal, Pakistan, and Sri Lanka took part in the event.

Highlighting regional challenges, Hossain said, "Poverty and inequality persist despite economic growth. Bridging the digital divide and promoting SME development should therefore be collective priorities to ensure inclusive and sustainable growth."

Prathma Uprety, director of the information and poverty alleviation division at the Saarc Secretariat, said the organisation is committed to promoting deeper regional cooperation and resilience across South Asia.

"Through the Saarc Development Report 2025, we aim to advance socioeconomic growth, environmental sustainability, and gender equality. Together, we will shape a stronger, more inclusive, and sustainable future for our region," she added.

Hoe Yun Jeong, country director of ADB in Bangladesh, underscored the importance of enhanced regional cooperation in building a resilient and sustainable future for South Asia.

He highlighted ADB's commitment to creating more jobs, promoting clean energy, and protecting public health to ensure long-term stability and inclusive growth. Jeong reaffirmed collective efforts under the "Saarc Development Report 2025" will drive shared prosperity across the region.

Dongxiang Li, lead regional cooperation specialist of ADB in Manila, and Posh Raj Pandey, consultant, among others, also spoke at the event.