CASA Trade and Development Landscape: A Primer on Regional Trade, Foreign Direct Investment, and Migration

Nassir Wani

Chapter Chapter 2 in Trade and Development in Central and South Asia, 2025, pp 21-46 from Springer

Abstract: Abstract Central Asia and South Asia (CASA) continue to be among the most economically fragmented regions globally. While various nations have augmented their economic footprint in the global market, intra- and inter-regional commerce is advancing at a more languid rate relative to their total trade development. This study analyses the trade environment, investigates the causes hindering economic integration among CASA economies, and proposes creative measures to enhance regional collaboration to increase trade and economic connections between Central and South Asia. Moreover, the research records nascent patterns in commerce, investment, and migration. This chapter examines whether the unique strategies for regional integration will facilitate the revitalisation of trade and economic connections in CASA. The research offers guidance to policymakers in both areas on enhancing regional integration by using new datasets on services, investments, and migration to get a deeper understanding of trade connectivity improvements. The research examines the obstacles impeding economic links, collects data on potential improvements if these issues were resolved, and offers recommendations for facilitating regional integration. The results underscore a discrepancy between the trade of products and services, particularly considering the rapid progress in information and communication technology in recent years. A significant component contributing to this disparity is trade policy. Although consecutive rounds of World Trade Organisation discussions and regional efforts have markedly reduced tariffs on products, such advancements have not been seen in the services sector, where trade obstacles mostly persist. The report recommends improving infrastructure development, minimising trade obstacles, and fostering a more favourable business climate for cross-border investments to achieve this objective. Policymakers can enhance economic cooperation and collaboration between Central and South Asia by using the distinct capabilities and resources of each area. Ultimately, dismantling these obstacles and cultivating robust regional connections would not only enhance the economic welfare of both areas but also promote stability and prosperity throughout the CASA region.

Keywords: South Asia; Central Asia; Regional integration; Bilateral trade; FDI; Migration (search for similar items in EconPapers)
JEL-codes: F10 F14 F15 F17 F63 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-95-2728-1_2

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DOI: 10.1007/978-981-95-2728-1_2

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