Bangladesh- The Vietnam of South Asia- Leveraging the Learnings For India
- Gateway House and KAS India
Bangladesh - A country that began as a case study for development, is now on top of the global GDP charts. GDP growth in 2019 was an enviable 8.4% - twice that of India’s during that year – and is one of the few countries to have maintained a positive growth rate during the Covid-19 pandemic. It is a proud moment for Bangladesh – and the Indian sub-continent. Just as Vietnam amazed the world with its fast-paced growth, so too with Bangladesh which has displayed a will to grow despite the odds.
Vietnam instituted market and economic reforms, known as Doi Moi, which enabled it to achieve rapid economic growth and industrialization especially in the fields of textiles & garments to mobiles & electronics. Bangladesh followed a similar strategy which is directly connected with the textiles and garments industry which accounts for 80% of the country’s exports. Bangladesh also enjoys preferential trade treatments with the European Union, Canada, Australia, and Japan with negligible or zero tax. The European Union accounts for 24% of Bangladesh’s total trade.
Therefore, in order to examine areas of trade & economics, supply chain & connectivity, geopolitics and soft power further; the Gateway House, Mumbai & the India Office of the Konrad-Adenauer-Stiftung (KAS) organized a virtual webcast on "Bangladesh: The Vietnam of South Asia - Leveraging the Learnings for India" on 18th March 2021 to find answers to questions such as:
- What can India, South Asia and the world learn from Bangladesh’s successful development trajectory?
- How can trade increase between India and Bangladesh for the overall benefit of the region? How can the two economies complement each other?
- How can India establish itself in the global manufacturing supply chain like Bangladesh and Vietnam?
- How will the tussle between US-China, India-China, Quad-China affect other Asian countries in the region? Will they choose sides? How will they manage their relationships with conflicting powers?
- How can the cultural relationship and soft power between India and Bangladesh be capitalized in the economic front?