Pak trade with Central Asia gains importance

SAARC Chamber of Commerce and Industry former President Iftikhar Ali Malik said on Sunday that Pakistan’s trade relations with Central Asian states had become increasingly important due to shifting of geopolitical dynamics and economic challenges in the current global scenario.

In a press statement, he said Central Asia, rich in natural resources and strategically located, offers immense opportunities for Pakistan to enhance its economic footprint.

The recent visits of Prime Minister Shehbaz Sharif to the region underscore Pakistan’s commitment to strengthening ties and unlocking mutual economic benefits. He said Central Asian states of Kazakhstan, Uzbekistan, Turkmenistan, Kyrgyzstan, and Tajikistan, were key players in energy, agriculture, and mineral sectors, adding that Pakistan, with its growing population and strategic location as a gateway to South Asia, could serve as a vital trade and transit hub for these landlocked nations.

Enhanced connectivity through initiatives like the China-Pakistan Economic Corridor (CPEC) and the Trans-Afghan Railway project could facilitate trade and energy exports, benefiting both regions, he added.

In the current global context, where economic diversification and regional integration are crucial, Pakistan’s proactive approach towards Central Asia was a strategic move. By fostering stronger trade relations, Pakistan could mitigate economic challenges, reduce dependency on traditional markets, and create new avenues for growth, he said.