The concept of economic corridors came into limelight with the extension of support by the Asian Development Program to the development of greater Mekong sub region (GMS). The major landmark achieved by GMS program can be traced back to the boosting of transport connectivity in the sub-region as epitomized in the other existing economic corridors. Under GMS investments were targeted in the sector of energy, telecommunication and transport.
- Asian Development Bank devised a set of three characteristics that typifies an economic corridor.
- It covers a small geographical space straddling a transport artery such as a road, rail, or canal. It emphasizes bilateral rather than multilateral initiatives, focusing on strategic nodes at border crossings between two countries.
- It highlights physical planning so that infrastructure development achieves positive benefits. In a national context, the concept is now increasingly used for development programs