The Evolution of Regional Economic Corridors in South and Southeast Asia: A Decade of Transformation, Challenges and Opportunities
Author : Aayat Abrar
Abstract :
Over the past decade, regional economic corridors in South and Southeast Asia have become pivotal for economic integration, infrastructure development, and geopolitical realignment. This paper explores the evolution of key corridors, including the Bangladesh-China-India-Myanmar (BCIM) Corridor, the China-Pakistan Economic Corridor (CPEC), the Greater Mekong Subregion (GMS), and the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT). These initiatives aim to enhance connectivity, trade, and investment by leveraging geographic proximity and shared economic interests. However, their development is shaped by infrastructure investments, geopolitical strategies, trade agreements, and regional cooperation frameworks, while facing challenges such as debt sustainability, environmental degradation, and geopolitical tensions.
The study addresses four research questions:
- How have these corridors evolved over the past decade?
- What factors drive their development?
- What challenges do they face?
- What are their future prospects for sustainable and inclusive growth?
Key findings highlight the role of infrastructure investments, particularly under China’s Belt and Road Initiative (BRI), and regional trade agreements in driving corridor development. However, challenges like debt sustainability, environmental concerns, and geopolitical tensions (e.g., India-China border disputes) hinder progress. Despite these obstacles, the corridors hold significant potential for fostering sustainable and inclusive growth through improved connectivity, trade facilitation, and regional cooperation.
By analysing case studies and empirical data, this research underscores the transformative role of economic corridors in reshaping the regional economic landscape. It also emphasizes the need to address challenges to ensure long-term sustainability and inclusivity, offering insights for policymakers and stakeholders aiming to maximize the benefits of these initiatives.
Keywords :
Regional Economic Corridor, Belt and Road Initiative, Bangladesh China India Myanmar (BCIM) Corridor, China Pakistan Economic Corridor (CPEC), Greater Mekong Subregion (GMS) etc.
