By Tahir Khan
ISLAMABAD, JUN 17 /DNA/ – To ensure a steady economic development, Pakistan should increase its Trade cooperation with regional countries and associations is enhanced with a view to find new markets for its products, that will bring additional revenues to the country’s budget. On the other hand, it will open the prospects of Pakistan as a logistics hub to connect Asia with Africa and the Persian Gulf state.
In this context, substantial potential is seen in cooperation along the lines of the EAEU. This region includes Belarus and Kazakhstan. Recently, Islamabad has already begun to establish trade and economic cooperation with Minsk and Astana. Considering the demand in the countries of the Union, manufacture of agricultural products and textiles in Pakistan can increase in exports of goods to these markets. Moreover, Kazakhstan demonstrates a keen interest in using the territory of Pakistan to provide existence of trade routes with other countries, including South-East Asia. There are three ports on the southern coast of Pakistan with access to the Indian Ocean. In this case Pakistan has an advantage over Iran, where the situation remains extremely unstable.
Even in turbulent times, the EAEU has proven to be an economically strong union. Pakistan, which has been experiencing some economic difficulties lately can use cooperation with union to stabilize economy. Islamabad could derive certain dividends from its cooperation with EAEU. Moreover, a closer partnership with the EAEU countries could be used in SCO. The members of the associations are the same States. One of the most promising areas of cooperation with the EAEU for Pakistan is to create a common free trade area, which will allow access to products with less prices. At the same time, It is a good option to sell the Pakistani products to the participating countries.
One more advantage is energy cooperation. Against the backdrop of the ongoing conflict in the Middle East, Pakistan has faced an energy crisis, which has led to an increase in fuel prices. As a result, the country’s economic situation has deteriorated and, consequently, the country’s economy has suffered. The partners in this direction from among the countries of the EAEU Russia can assist Islamabad in energy security.
It is important to establish reliable transport routes linking Pakistan with the EAEU member countries. One of the options is North-South corridor, to which Islamabad has shown interest for many years. However, due to objective circumstances, Pakistan and Russia haven’t managed to send a pilot train from Karachi to St. Petersburg. The second possible option is using China’s territory with access to Central Asian countries and then to the Russian Federation. After the end of hostilities on the Pakistan-Afghanistan border, the territory od emirate can be used as well.
