ISLAMABAD, Feb 24 (APP):Expert at a roundtable discussion on Tuesday underscored the need for Pakistan to reinvigorate its engagement with Singapore by enhancing economic cooperation, attracting foreign direct investment (FDI), and learning from the city-state’s success in human resource development and services-led growth.
The event, titled “Pakistan-Singapore Relations: Past, Present and Future,” was organised by the Consortium for Asia Pacific and Eurasian Studies (CAPES) in collaboration with South Asia Times (SAT), said a press release.
It featured Ambassador Sajjad Ashraf, former High Commissioner of Pakistan to Singapore, as the keynote speaker. Researchers and academics focusing on Pakistan’s relations with Singapore and the broader Asia-Pacific region attended the session.
In his remarks, Ambassador Ashraf highlighted Singapore’s remarkable economic and technological progress, stressing that Pakistan must draw lessons from its experience in developing high-quality human capital and strengthening its services-led export sector. He noted that by 2007, Singapore had invested over $2 billion in Pakistan as FDI, reflecting the strong potential for further investment if supported by consistent and coordinated policy efforts.
While interacting with the audience, he added that going forward, Pakistan must set its house in order and engage more seriously with Singapore. Unusual efforts are required to rope in FDI from the country due to losses sustained in the past. He added that discussions for a Free Trade Agreement (FTA) could also be resumed once ease of doing business in the country takes off.
Earlier, in his welcome address, President CAPES Dr Khuram Iqbal highlighted the scope for expanding economic cooperation and strengthening diaspora-based exchanges between the two countries. The discussants agreed on the need to continue discussing Pakistan-Singapore relations to explore the latter’s potential as Pakistan’s gateway to ASEAN.