GUWAHATI: Along with Bhutan and Bangladesh in its neighbourhood, Assam is looking at new areas of cooperation with Japan, the state's Act East Policy Affairs Minister Chandra Mohan Patowary revealed on Friday. These initiatives, Patwary says, are part of Chief Minister Himanta Biswa Sarma's efforts to make Assam a "top five" state in the country.

Patowary's comments came days after Biswa Sarma met Ambassador from Japan Hiroshi Suzuki at his office to discuss enhanced investment and trade opportunities. "We are trying to streamline what can be done to boost investments between the two sides and appear to be on the verge of figuring things out", Purobi Gogoi, the Joint Secretary of Act East Policy affairs, informed Business North East. "We already have some collaborative projects like the water supply project assisted by the Japan International Co-operation Agency (JICA). After figuring out what more can be done, we will send a proposal to the CM. We will see what proposals come from them (Japan).”

India-Japan bilateral trade reached $21.96 billion during the last with Indian exports to the Asian nation reaching $16.49 million. New Delhi believes that Assam could play a significant role in concretising a sea route between the Arabian Sea and the South China Sea. Foreign Minister Jaishankar has observed that Assam is a crucial link in the ties that India maintains with Korea and Japan in Asia's Far East.

Meanwhile, Assam's participation in trade and commerce with Bangladesh is important for the Indian government as New Delhi mulls a free trade agreement with Dhaka. According to Patowary, Bangladesh can take the opportunities of potential sectors of Assam like ethanol, methanol, plastic, and hydrocarbon to improve trade and business with Assam. 

Bhutan, which plans to build a massive “international city” in an area of over 1,000 sq. km. on its border with Assam, is also considered a great prospect by Dispur as far as trade and investment are concerned.

Speaking to Business North East, Patowary said that global initiatives would result in more employment opportunities in the state. "When there is an increase in trade and commerce, obviously employment will increase and that is why stressed the need for six industrial corridors", he said. "This will lead to the formation of many industrial establishments on both sides. Our youth can be part of that value chain as well."

Patowary on Friday attended the inaugural session of 'Act East through Northeast 2.0 - The Round Table Conference on Inter-Country Economic Corridor through North East of India for Inclusive Growth' held at a city hotel. This session sought to explore fresh opportunities presented by the Act East Policy for the Northeast region and enhance economic and cultural connections with Southeast Asian countries, with a focus on bolstering bilateral relations with neighbouring Bangladesh and Bhutan.

The Act East Policy has reinvigorated India's engagement with its Eastern neighbours, while the country’s relationships with Bangladesh and Bhutan have seen a new era of cooperation in areas of trade, transit and water resources management, Patowary said in his keynote address.

The objective of Act East Policy is to promote economic cooperation, and cultural ties and develop strategic relationships with countries in the Indo-Pacific region through continuous engagement at bilateral, regional and multilateral levels, according to India's Ministry of External Affairs.

Patowary has noted that the Northeast Indian region is witnessing rapid development in road infrastructure, regional airways connectivity, railways, waterways and shipping and internet connectivity. The state government is deeply committed to harnessing these natural endowments and transforming the state into an economic hub, he said. "Our policies are focused on creating a business-friendly environment, facilitating ease of doing business, and developing world-class infrastructure to attract domestic and international investors."

The use of Chittagong and Mongla ports in Bangladesh will further strengthen waterways connectivity in the Northeast and mutually benefit both countries, he said. 

The event also marked the release of a report titled "Inter-Country Economic Corridor Through North East of India for Inclusive Growth: Potential and Prospects," providing a roadmap for sustainable and inclusive development in the region through the development of economic corridors in Bangladesh, Bhutan and Nepal which passes through Assam.

During the daylong conference, various connectivity initiatives like the 58-km rail link between Gelephu in Bhutan and Kokrajhar in Assam, riverine linkages with Bangladesh, and various road and railway projects connecting the neighbouring countries were highlighted. Detailed discussions were held on ways to use the evolving connectivity with neighbouring countries to create an economic corridor.

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