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BEIJING: India on Thursday put its stamp of approval on a plan to build an economic corridor from Kunming city in China to Kolkata. The multi-modal corridor will be the first expresswaybetween India and China and will pass through Myanmar and Bangladesh.
The Bangladesh-China-India-Myanmar (BCIM) economic corridor project envisages three major linkages of transport, energy and telecommunication networks. The four countries have agreed to build and encourage road, rail, air and waterways connecting each other besides laying power transmission and oil pipelines.
The corridor will "harness the economic complementarities, promote investment and trade and facilitate people-to-people contacts," the four countries said in a joint statement. The corridor plan has been discussed since 2009.
China has been pushing for building the corridor because it offers Chinese companies major opportunities to obtain infrastructure building contracts. A major challenge for Indian diplomacy and business is to obtain a part of the business in Bangladesh and Myanmar for Indian companies.
The corridor will "promote greater participation of public and private sector towards facilitating intra-regional investments," the agreement said. This would also include trade-facilitation measures for flow of goods and services along the corridor.
"The corridor will form a thriving economic belt that will promote common development of areas along the corridor," the statement said.
Besides Kunming in China's Yunnan province, the corridor will pass through Mandalay in Myanmar and Bangladeshi cities of Dhaka and Chittagong before entering West Bengal and ending in Kolkata.
Officials of the four countries are also looking at developing a "BCIM tourism circle" in the region to enhance people-to-people contacts, Nag Kakanur, India's consul general in China's Guangzhou, said.
The four countries also agreed to encourage greater cooperation and exchanges in the BCIMregion in the areas of education, sports and science and technology. They also agreed to study the best practices adopted by similar projects like the Mekong Valley project.
Plan for economic corridor linking India to China approved - The Times of India
The Bangladesh-China-India-Myanmar (BCIM) economic corridor project envisages three major linkages of transport, energy and telecommunication networks. The four countries have agreed to build and encourage road, rail, air and waterways connecting each other besides laying power transmission and oil pipelines.
The corridor will "harness the economic complementarities, promote investment and trade and facilitate people-to-people contacts," the four countries said in a joint statement. The corridor plan has been discussed since 2009.
China has been pushing for building the corridor because it offers Chinese companies major opportunities to obtain infrastructure building contracts. A major challenge for Indian diplomacy and business is to obtain a part of the business in Bangladesh and Myanmar for Indian companies.
The corridor will "promote greater participation of public and private sector towards facilitating intra-regional investments," the agreement said. This would also include trade-facilitation measures for flow of goods and services along the corridor.
"The corridor will form a thriving economic belt that will promote common development of areas along the corridor," the statement said.
Besides Kunming in China's Yunnan province, the corridor will pass through Mandalay in Myanmar and Bangladeshi cities of Dhaka and Chittagong before entering West Bengal and ending in Kolkata.
Officials of the four countries are also looking at developing a "BCIM tourism circle" in the region to enhance people-to-people contacts, Nag Kakanur, India's consul general in China's Guangzhou, said.
The four countries also agreed to encourage greater cooperation and exchanges in the BCIMregion in the areas of education, sports and science and technology. They also agreed to study the best practices adopted by similar projects like the Mekong Valley project.
Plan for economic corridor linking India to China approved - The Times of India
