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Myanmar becomes 7th member of SASEC
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Myanmar became the 7th member of South Asia Sub-regional Economic Cooperation (SASEC) program of Asian Development Bank (ADB). It was officially made member at the SASEC Finance Ministers meeting held in New Delhi and chaired by Union Finance Minister Arun Jaitley.
Key Facts
Myanmars membership in SASEC will offer host of opportunities for realizing synergies from economic cooperation in the subregion. Road corridors in Myanmar can provide key gateway between South Asia and Southeast Asia, while its ports can provide alternate routes and gateways to the landlocked northeastern region of India. It has the potential to unleash significant economic potential and bring better livelihoods to millions in the region after developing multimodal connectivity between Indias northeastern region, Bangladesh, and Myanmar. Transport linkages between South and Southeast Asia will also become more attractive to businesses once ongoing and planned motor vehicle agreements are finalized and implemented.
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