Pakistan needs to explore vast trade potentials in CARs strengthening economic integration

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Pakistan must fully explore untapped vast trade and investment avenues in Golden Ring countries and Central Asian Republics to strengthen economic integration besides promoting bilateral cooperation for quick economic growth and development in the region.

Addressing a seminar titled “Regional Connectivity-Economic and Trade Opportunities for Pakistan with Golden Ring Countries (GRCs) and Central Asian Republics

(CARs)”, through zoom here Tuesday the Coordinator to Federal Tax Ombudsman Meher Kashif Younis said Pakistan apart from Europe, Far East and Gulf should also mainly focus on promotion of bilateral trade with regional states especially with neighbouring countries.

He said Pakistan is situated at significant location of South Asia providing shortest route to landlocked CARs to reach Indian Ocean and the rest of the world.

He said Central Asia is historically and closely tied to Silk Road trade routes acting as a crossroads for the movement of people, goods between Europe and the Far East and Pakistan must act as it’s bridge.

He said Pakistan can attract million of dollars through these connectivities. And Afghanistan will also get big slice of profit as well provided durable peace, security and political stability is allowed to stay.

He said now connectivity has become a substantial trend for modern economies. He said mega projects of inter-regional connectivity has been crucial in economic development and regional integration.

Meher Kashif said the Built and Road Initiatives (BRI) has phenomenal importance in this regard.The Golden Ring has the potential to become the most lucrative economic centre of the world after CPEC.

The successful connectivity will enable energy trade through pipelines, land and sea routes among these countries, he said adding that in the prevailing scenario, the importance of Pakistan is increasingly becoming reality in the light of integration waved launched by China and patronised by Russia.

He said Pakistan should also work closely with Russia, China,Turkey, Iran and Afghanistan to reap colossal economic benefits from available abundant trade prospects.

Although Pakistan is an economically fragile country yet China needs it more than anything else, he said adding that it will not only increase regional connectivity but also help in minimising the trade deficit.

He said Pakistan a land of opportunity enriched with natural resources green gold, deep warm water (Gwadar) with more than 60% of its total population comprises of youth and above all its geo strategic location which tremendously increases its importance especially in the last two decades with the emergence of China as a one of world economic superpower.—APP

 

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