INFRASTRUCTURE CONNECTIVITY FOR AN INTEGRATED, PEACEFUL AND PROSPEROUS ASIA–PACIFIC REGION

Abstract

The Asia–Pacific region accounts for about 60% of the world's population and comprises 30% of the world's total land area. The size of its economy is now almost equal to that of Europe and North America combined together. The region has consistently posted the world's highest economic growth rates. In spite of rapid and remarkable economic growth and poverty reduction in the last two decades, the region is still home to nearly two-thirds of the world's poor. Basic infrastructure facilities, such as clean water, sanitation, electricity, paved roads, and telephone networks, are not available to a large proportion of citizens. In recent years, income and non-income inequality within and between Asian economies has remained high and been increasing in several economies. If this scenario persists for a long period, it can give rise to conflict and instability in the form of social and political tensions. Several parts of Asia are already witnessing some instability. This paper discusses transport connectivity for a peaceful, prosperous, and integrated Asia with the Pacific (henceforth Asia). It focuses on the role of soft infrastructure, particularly policies, regulations, institutions; systems and procedures, particularly cross-border ones; business environment, trade facilitation, and logistics in developing effective transport connectivity to enable inclusive and sustainable growth and trade integration.