SAARC Chambers of Commerce and Industry’s former President Iftikhar Ali Malik on Sunday stressed the urgent need of unlocking the potential of regional economic cooperation and integration to boost trade among SAARC member countries, especially with Afghanistan at this critical juncture.
Talking to a delegation of traders led by Muslim Khan Buneri, he said inter-regional trade in South Asia is less than one-third of its potential which indicates 67 percent of trade is not being fully exploited, said. news release.
He said the role of Afghanistan as a connector and as a land bridge between Central Asia, the middle East and South Asia needs to be reviewed in the prevailing scenario to primarily focus on the promotion of trade and investment.
He said even today, Afghanistan is seen as a viable doorway to South Asian countries for direct access to oil and gas from the republics of Tajikistan, Turkmenistan, Kyrgyzstan, Uzbekistan and others.
He said better trade ties will help promote economic growth and to do away with abject poverty in the region especially in Afghanistan thus enhancing its cross-border and transit trade with neighbouring countries.
He said poor trade facilitation at borders and the prevalence of a variety of non-tariff barriers are major hurdles in further enhancing mutual trade manifolds with Afghanistan.
He said the main export partner is Pakistan 48 percent, India 19 percent and Russia 9 percent other including Iran, Iraq and Turkey.—APP
