“Myanmar’s participation in SASEC is expected to further promote and accelerate inter-subregional cooperation between South Asia and Southeast Asia and beyond, and will contribute significantly to achieving the future development goals of both sub-regions,” said Ronald Butiong, Director for Regional Cooperation for ADB's South Asia Department, reports UNB on Saturday.

SASEC countries - Bangladesh, Bhutan, India, Maldives, Myanmar, Nepal, and Sri Lanka - coordinate the planning of projects and activities to increase economic growth by building transport connectivity, facilitating faster and more efficient trade, and promoting cross-border power trade.

Myanmar's membership comes in advance of the first SASEC meeting of Finance Ministers that will be held in New Delhi on April 3, according to an ADB message UNB received here from Manila.

SASEC members will announce their vision for SASEC to accelerate and sustain the growth momentum in the region by unlocking their natural resources, industry, and infrastructure through subregional cooperation.

To date, SASEC members have invested more than $9 billion in development projects, which have connected markets and businesses over the last 15 years in the subregion. ADB serves as the SASEC Secretariat.

 “Myanmar's membership in SASEC can offer a host of opportunities for realizing synergies from economic cooperation in the subregion,” said Shaktikanta Das, Secretary of the Department of Economic Affairs in India's Ministry of Finance.

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