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The Sangai Express recently reported that thirteen delegates from the North Eastern Indian states of Manipur and Assam, and members of the North East Federation of International Trade (NEFIT) had departed for the Bangladesh China India Myanmar (BCIM) Economic Corridor (Chengdu) Development Forum in Chengdu from the 23-25th November.
The BCIM Economic Corridor’s principal purpose is to foster socio economic development, trade opportunities and transport links between the four member counties. The corridor’s founders envisaged to connect Bangladesh, Myanmar, India’s Northeast and China’s Yunnan province through a network of roads and railways to facilitate the flow of investment and trade.
“The Assistant General Secy. Of Manipur Chamber of Commerce and Industry Th Jotin stated, “NEFIT took up the initiative in conjunction with the ‘Act East’ policy of the Government of India to attract entrepreneurs from the private sector. Opening of land routes connecting India to the East Asian Nations through North East India is very important for a land locked region. Opening up such routes will allow increase in trade activities between the BCIM Nations.”
The North East Federation of International Trade (NEFIT) is a trade body comprising exporters and importers from eight member states of North East India who have a combined population of 43 million.
The 2015 BCIM Forum is sponsored by the Chengdu Municipal Government and organized by Chengdu Municipal Commission of Commerce.
“The summit is being held under the theme Strengthen the Co-operation of Intercity Economy and Trade and Promote the Prosperity of the BCIM Economic Corridor.”
Investinchengdu.com congratulates the Chengdu Municipal Government in organising and sponsoring the 2015 BCIM forum. This forum once again demonstrates the diligent foresight of Chengdu’s leadership to promote Chengdu as the premier Western China regional hub for forums, investment and trade relations.
Indeed there will be major challenges in developing the logistical and transport links within budget and reasonable time frames. However this year’s conference is exploring joint ventures and technological initiatives to better foster trade and investment relations. Patents and technologies have no geographic boundaries and it is through the joint venture model that the citizens of these BCIM countries will commercialise them.
Gradually overtime with more and more contacts between talented professionals, startups and enterprises within the BCIM Economic Corridor, tangible benefits will eventuate and once more Chengdu will experience the “fruits of its ingenious planning and hard labour”.
Finally, may we strongly recommend you also read Associate Professor Pravakar Sahoo’s and Abhirup Bhunia’s (Researcher), (Institute of Economic Growth) exceptional article in the ‘East Asia Forum’ to better comprehend the underlying dimensions and insights of the BCIM Economic Corridor. They have undertaken exhaustive research, written an exceptional article, encapsulating the complex themes and strategies of the BCIM Economic Corridor. Overtime we will provide further commentary on their ground breaking work and research.
Disclaimer: The above article has been summarised from the Sangai express and added commentary provided by investinchengdu.com.