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Indo-Pacific Economic Corridor (IPEC): Coordinated Regional Trade Analysis

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This work supports the United States’ vision of an Indo-Pacific Economic Corridor (IPEC) that bridges South and Southeast Asia to promote regional stability and economic prosperity. In collaboration with the State Department and USAID under the Asia and Middle East Economic Growth Best Practices project, Banyan Global conducted a regional trade analysis in order to promote greater regional economic connectivity in Asia by: 1) fostering economic growth and regional trade in South Asia; 2) increasing private sector competitiveness in the region by enhancing the business environment; 3) engaging the private sector on economic issues, particularly regional trade, in South Asia and trade between South and Southeast Asia; and 4) encouraging stronger economic integration between South and Southeast Asia, engaging such regional institutions as the Association of Southeast Asian Nations (ASEAN) and the South Asia Association for Regional Cooperation (SAARC). The regional trade analysis included trade data and literature reviews, a map identifying major trade corridors and product/service flows, an analysis of regional agreements and their implementation, and a list of the regional, national, private, and donor initiatives that support trade facilitation.  The document also identified the key top line objectives/indicators for increased regional trade, including the priority objectives for the next five to 10 years that would increase trade values/volumes and other key indicators of regional trade integration (such as reduction in transit times in key corridors or key legal/regulatory/procedural reforms). In addition, the analysis prioritized a list of potential interventions in sectors and countries that would help to further integrate trade regionally.