Women’s empowerment termed essential for growth

LAHORE: Former Saarc Chambers of Commerce and Industry President Iftikhar Ali Malik has said women’s participation in the workforce remains underutilised in South Asia, where social norms, inadequate support systems, and limited access to education and training prevent the majority from contributing economically.

In a statement issued here on Sunday, an octogenarian trade leader of South Asia said by addressing these barriers, the region could potentially boost its GDP significantly.

He said gender parity in employment could increase productivity, reduce poverty, and lead to better outcomes in health and education, ultimately contributing to more resilient societies.

Providing women with equal access to opportunities and ensuring policies that support work-life balance, parental leave, and safe work environments can create an environment where both men and women thrive in the workforce.

By advancing in both these areas, South Asia can create a more inclusive and prosperous economy.

Empowering women economically and fostering international trade and investment pave the way for sustainable growth, improved living standards, and progress toward regional development goals.

With focused reforms, the region could unlock tremendous growth, benefiting not just economies but entire communities, he added.

Iftikhar Malik said at the same time, opening further to global trade and investment offers South Asia substantial opportunities for growth.

Increasing openness not only attracts foreign direct investment (FDI), which brings capital and technology, but also encourages domestic industries to become more competitive.

He said through trade liberalization, countries can tap into global markets and enhancing their economic dynamism.