The third plenary session of the Fourteenth South Asia Economic Summit (SAES XIV) titled ‘Geo-strategic factors underpinning contemporary trends in South Asian cooperation’ was held on 5 November, 2023 at the Sheraton Hotel, Dhaka.

The Chair of the session Professor Rounaq Jahan, Distinguished Fellow, Centre for Policy Dialogue (CPD), remarked ‘Civil Society Organisations (CSOs) are more critical of the government’s achievements in terms of cooperation. While some progress has been made, it has not met expectations’.

‘If there is a higher level of trust among neighbors, China’s low borrowing rates may be beneficial for us’ Dr Swarnim Waglé, Member, Federal Parliament of Nepal.

Brig. Gen. (Retd.) Dr Sakhawat Hussain, Former Election Commissioner, Bangladesh, said that the future of regional cooperation appears bleak unless we can overcome the weaponisation of economy, culture, business, and politics.

Professor Md Shahidul Haque, Professor, South Asian Institute of Policy and Governance (SIPG), North South University and Former Foreign Secretary, Bangladesh, said ‘Bangladesh will need to play a significant role in addressing many of the issues in the South Asian region, primarily focusing on a political role rather than an economic one’.

‘We have forgotten that some previous empires fell when they became superpowers. Now we must consider whether it’s a matter of prosperity or a matter of existence’ said Dr Syed Kaleem Imam, Former Federal Secretary, Government of Pakistan.

Dr Amena Mohsin, Professor, Department of International Relations University of Dhaka, Bangladesh underscored ‘Within South Asia, there is another South, where the states are raising autonomous voices and seeking multiple alliances.’

‘Inflation is surpassing workers’ wages, leading to a situation where workers are experiencing a decline in their real income every day’ highlighted Dr Praveen Jha, Professor, Centre for Economic Studies and Planning School of Social Sciences, Jawaharlal Nehru University, India.

The speakers at the session said that regionalism is a process deeply rooted in people’s minds, yet South Asia faces a deficit in its establishment. The consideration of multipolarity alongside multilateralism is imperative, emphasising that the prosperity of the people should take precedence over aspirations of superpower status.

Collaboration, coexistence, and harmonious living among South Asian countries are vital. The intricacies of sub-regional politics within South Asia, where states are vocalising distinct perspectives and seeking diverse alliances, must be acknowledged. To ensure the survival of South Asian Association for Regional Cooperation (SAARC), a fundamental restructuring is necessary, incorporating a robust conflict resolution mechanism. Additionally, the facilitation of free movement is indispensable for fostering cooperation among member nations.

High-level policymakers, political leaders, academics, development practitioners, civil society activists from Bangladesh and the South Asian region attended the conference and shared their valuable insights.