‘Pakistan should promote trade, economic ties with SCO member states’

KARACHI: Pakistan needs to aggressively promote its trade, investment and economic ties with Shanghai Cooperation Organisation (SCO) member states as the formidable bloc has a cumulative gross domestic product (GDP) of $20 trillion, according to Vice President of Pakistan Business Forum (PBF), Ahmad Jawad.

“An economic bloc with a GDP of $20 trillion could uplift Pakistan out of all its economic shortcomings provided serious efforts were taken to tap the opportunities and potential that SCO offers,” he added.

Talking to Business Recorder, the PBF vice president said the SCO has provided a meaningful opportunity to develop confidence among the member states as well as regional countries for the promotion of peace, security and stability by addressing the irritants among intra regional and inter regional states. Now, it is imperative for SCO to positively engage the world media to project its policies and objectives and achievements ever since its evaluation to the present day, he added.

Pakistan could serve as a hub for promotion of trade and energy corridor, hence possesses capability to make a yielding contribution to SCO and provide a feasible link between SCO states and South Asia.

He said, “Pakistan needs to keep pursuing consistently its policy towards Russia for promotion of politico-strategic interests in the region. Also, focus should remain on Afghanistan in the post 2014 scenario. The SCO with the collaboration and support of Pakistan can tangibly play a crucial role in reconstruction and rehabilitation of Afghanistan. A secured, stable and peaceful Afghanistan will be in the interest of all stake holders including regional and extra regional players and ultimately leading to a peaceful world.”

Ahmad Jawad further said Pakistan must reconfigure its priority area and improve relations with Russia, setting new goals and leaving behind the mistrust of the cold war era. Russian support to Pakistan for grant of observer status in SCO and conversely Pakistan’s backup for Russia’s bid for observer status in organization of Islamic Conference in 2005 is an explicit manifestation of urge of both sides for more cooperation.

There is a heavy potential to improve economic cooperation by boosting bilateral track and commercial activities especially energy, heavy industry, automobiles, aircraft industry, textile and agriculture etc.

PBF President Karachi, Malik Khuda Baksh said Central Asia is of great importance to Pakistan due to its prime geo strategic proximity and hydrocarbon potential. Pakistan being the closest approach for CARs towards South, Persian Gulf, Middle East and rest of the World, would be better served on the SCO platform. In order to transform the existing interaction of political leadership of both sides into a meaningful cooperation, establishment of road rail link is the most appropriate way to end the land locked position of CARs.

This will bring a new dimension to trade and commercial activities not only between both the nations but with the rest of SCO member states as well.

He said the SCO can play a meaningful role to bring both countries closer to each other under its ambit.

Copyright Business Recorder, 2024