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LAHORE, Nov 09 (APP): SAARC Chamber of Commerce and Industry former President Iftikhar Ali Malik has urged the government to explore new avenues of investment and economic cooperation with the Association of Southeast Asian Nations (ASEAN) to strengthen regional trade integration and economic growth.
In a statement here on Sunday, the trade leader said ASEAN, comprising ten dynamic economies, offers Pakistan significant potential to diversify exports, attract foreign investment, and enhance people-to-people connectivity. He called for developing strategic trade partnerships through joint ventures, industrial collaboration, and technology exchange, particularly in agriculture, information technology, renewable energy, halal food, and textiles.
Malik emphasized engaging the private sector, chambers, and think tanks to formulate a comprehensive ASEAN engagement strategy to maximize economic diplomacy. “The time has come for Pakistan to look beyond traditional markets and strengthen ties with emerging Southeast Asian economies for shared growth and sustainable development,” he added.
He also stressed the need for institutional reforms, ease of doing business, and a stable policy framework to attract ASEAN investors. Regular business exchanges, trade promotion missions, and delegation visits, he said, would build confidence and open new commercial opportunities.
Highlighting the importance of regional trade blocs, Malik urged Pakistan to actively pursue Free Trade Agreements (FTAs) and Preferential Trade Arrangements (PTAs) with ASEAN to access its market of over 650 million consumers. He further noted that enhanced connectivity through the China-Pakistan Economic Corridor (CPEC) could serve as a vital link between South Asia and Southeast Asia, fostering regional stability and prosperity.