Infrastructural connectivity to spur economic integration in SAMECA: Minister

ISLAMABAD, Nov 14 (APP):Federal Minister for Planning, Development and Reforms Makhdum Khusro Bakhtyar on Thursday said that regional connectivity through road, rail and maritime routes, would increase the trade and economic integration between South Asia, Middle East, and Central Asia (SAMECA).

He said Pakistan was now working on internal connectivity through road and rail link for providing the connectivity between the far city of Peshawar to coastal
city Karachi, which would lead to improving the regional connectivity as well.

Makhdum Khusro Bakhtyar was addressing the Margalla Dialogue-19 on Peace and Development in South Asia, Middle East, Central Asia (SAMECA) here.

Adviser to Prime Minister on Finance Abdul Hafeez Sheikh, Chinese Ambassador Yao Jing, President IPRI and foreign delegates were also present.

Khusro Bakhtyar noted that the region’s trade potential was vast and Pakistan
could play an important role for promotion of trade linkages between Central Asia
and South Asia.

The Minister said that Pakistan was focusing on promoting cooperation in energy sector at regional level.

He said that Pakistan was heading towards industrial development, noting
that other countries were heavily investing in E-commerce and digital economy, therefore Pakistan should also pay attention towards this end.

He underscored that Pakistan should also invest in research and development
and promote other modern sectors on the pattern of China.

Talking about China Pakistan Economic Corridors, the Minister said that under CPEC framework, other countries can become partners and make investments to the mutual benefit of all.

He said that the present government has expedited the pace and implementation
of CPEC projects and hurdles related to CPEC projects had largely been removed.

The Minister called for initiating joint ventures with the private sector for
sustained economic growth.

He highlighted that a B2B forum has been formulated between the investors
of Pakistan and China for the mutual benefit of both countries.

The minister said that situation in Afghanistan had been the main obstacle for increasing the connectivity between the regional country and hoped that situation in Afghanistan would soon be improved for integrating the trade and economic links between these countries.

He said peace in Afghanistan was vital for regional prosperity adding that many development opportunities have been missed due to ongoing conflict in Afghanistan.