Bangladesh 2021 and Bay of Bengal Industrial Growth Belt (BIG-B)
12 Pages Posted: 5 Jul 2015
Date Written: January 31, 2015
Bangladesh has experienced an accelerating economic growth in recent times and is poised to become a middle-income country by 2021. An increasing volume of apparel exports and a surging flow of inward remittances are the main drivers of growth. A transition to a middle-income country would however require a framework of South Asian economic regionalism. The paper argues that Bay of Bengal Industrial Growth Belt (BIG-B) is likely an initiative to this end. It will help Bangladesh evolve as a “node & hub” in the latest phase of globalization in which the gravity of the world economy is moving away from the Asia-Pacific region to the Indo-Pacific region.
Keywords: Bangladesh, economic growth, regional integration, South Asia.
JEL Classification: E01, E21, E61, F15
Suggested Citation: Suggested Citation