Business News

Pakistan-Azerbaijan-Tajikistan agree to fast track CAREC

Mian Arshad

islamabad—Pakistan, Azerbaijan and Tajikistan have agreed to fast track the Central Asia Regional Economic Cooperation (CAREC) process to achieve the regional connectivity in the domains of Transport, Trade Facilitation, Energy and Trade Policy. CAREC is an Asian Development Bank (ADB) supported initiative established in 1997 to encourage economic cooperation among countries in the Central Asian region.

South Asia remains among least integrated region in the world

Salim Ahmed

Lahore—South Asia remains one of the least integrated region in the world with intra-regional trade being less than 6 per cent of the region’s total trade. It was observed by Mr. Muhammad Alamgir Chaudhry, Chief Executive Officer of the Small and Medium Enterprises Development Authority (SMEDA) while addressing an inception workshop organized by SMEDA in collaboration with South Asian Association of Regional Cooperation (SAARC).

2,281 acres land acquired for Gwadar Port Free Zone, Senate informed

Observer Report

Islamabad—The Senate was informed Tuesday that land measuring 2,281 acres had been acquired for Gwadar Port Free Zone under the Federal Government financing and lease deed with China Overseas Ports Holding Company was under process. The Gwadar Port Free Zone had been proposed while other economic zones were yet to be determined under the cooperation mechanism, the Ministry of Planning and Development said in written reply in Senate in response to a question.

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