Diplomatist Magazine Diplomatist October 2019 | Page 38

SPOTLIGHT
WILL THE ELEPHANT DANCE WITH THE DRAGON?
BY DR. ARUNDHATI SHARMA*
Introduction
The 2800 km Bangladesh-China-India-Myanmar
Economic Corridor (BCIM-EC), previously known as the
Kunming Initiative, is seen as an important project connecting
Kunming in China’s Yunnan Province to the Indian city of
Kolkata, passing through Mandalay in Myanmar and Dhaka
in Bangladesh. However, the slow progress of the project and
its inclusion in the Belt and Road Initiative (BRI) has been a
cause of consternation since its formal establishment in 2013.
Faced with such concerns, the 13th BCIM Forum held after
four years hiatus in June 2019 in Yunnan Province of China
provided a fresh lease of life to an otherwise tepid project.
Signifi cance of BCIM-EC
The signifi cance of BCIM-EC is manifold, having both
economic and strategic implications. The economic corridor is
an important development channel connecting the three sub-
regions - South Asia, Southeast Asia and East Asia. Together,
the BCIM region accounts for 9 percent of the world’s total
landmass, 40 percent of its population and 7.3 percent of
world gross domestic product. Besides enhanced transport
connectivity, the project is also at the heart of the development
of the blue economy and international maritime trade by
providing access to the Bay of Bengal and the Indian Ocean.
With such extensive connectivity, BCIM-EC is expected to
boost regional integration process in the three sub-regions.
From the Indian perspective, the project has enormous
economic potential. If realised, the project would facilitate
the cross-border movement of both people and goods,
substantially reduce transaction costs, minimise informal
trade and enhance trade and investment in the region. Most
importantly, it is also one of the trans-regional growth corridors
that would connect the remote areas of north-eastern states
with the eastern neighbours. As such, the project would be a
stepping stone towards the development of the north-eastern
states and realising India’s Act East Policy. Strategically, the
Source: Roshan Iyer, “BCIM Economic Corridor: Facilitating Sub-Regional
Development”, IPCS Special Report No. #187,
38 • Extraordinary and Plenipotentiary Diplomatist • Vol 7 • Issue 10 • October 2019, Noida