Myanmar in the present undeveloped state of its economy has a surplus of both gas and power that it probably stands ready to export. The importing of the same in bulk can be cost-efficient as well as strategically sound for Bangladesh in all respects
Deepening economic relations with Myanmar
Abu Zafar Iqbal
Bangladeshs big neighbor to the east, Myanmar, has for a long time been known as a country with which it could promote in a planned manner stepped up interactions in the economic and trade matters. But the potentialities have remained little exploited or explored to the detriment of the interests of both countries. Only in recent years, suggestions have been made for boosting trade and economic relationship with Myanmar. But the process was hazarded by the influx of Rohingya refugees from Myanmar to Bangladesh, a military stand-off that developed between the two countries over demarcation of their sea boundaries, etc.
However, it is happy to note that the political problems between Myanmar and Bangladesh are showing signs of a resolution. Myanmar has taken some the Rohingya refugees back and remains at least committed to facilitate the return of the others. The dispute over demarcation of sea boundaries that at one stage seemed explosive has died down after the award from the international court that has been accepted by both countries. Thus, the political relations which have a way of powerfully impacting on trade and economic relation, were seen as improving for both countries.
For Bangladesh, it remains imperative to keep Myanmar engaged in this constructive spirit and do everything possible to sort out the still unresolved political issues on the two sides at the fastest. The doing of this, successfully, will pave the ground well for speedier interactions in the economic and trade spheres.
As it is, very useful developments in the economic sphere are envisaged between the two countries. Some time ago a delegation from Yangoon visited Bangladesh to discuss the prospect of producing hydro-electricity in the Rakhine state of Myanmar for supplying to Bangladesh. It appears that there are much possibilities of importing--substantially-- hydro-electricity produced in Myanmar for use in Bangladesh.
Similarly, there are also prospects of importing gas from Myanmar. The cross-border trading in energies can be very complementary for both countries. Presently, Bangladesh is starved for energy and needs to get them from any source at the fastest. Myanmar in the present undeveloped state of its economy has a surplus of both gas and power that it stands ready to export. The importing of the same in bulk can be cost-efficient as well as strategically sound for Bangladesh in all respects. In some ways, experts have calculated that such importing of energies from Myanmar would be more sensible than trying to import from India as India presently is a rapidly growing big energy user and may not have sustainable surpluses to sell to Bangladesh in the long run. But that problem should not pose for Myanmar in the short and medium terms. Apart from energy, cooperation can be developed between the two countries in the field of agricultural production. Bangladesh made a proposal to Yangoon sometime ago about leasing vast tracts of unutilized fertile farmlands in Burma. Myanmar has not responded satisfactorily to this proposal. But there is no harm in continuing with the persuasion to that end from the Bangladesh side. Bangladeshi agro-farms can be allowed to set up enterprises in Burma for producing cereals and diverse agro-produces on the basis of joint ownership. Initiatives for trans-border agricultural production of this nature can be gainful for both countries, specially for Bangladesh with fast growing population and rising concern about building its longer term food security. The relevant ministry in Bangladesh needs to play a singularly focused role from now on to give a planned boost to economic cooperation with Myanmar in the wider fields.
The writer is a contributor to The Independent
