Pakistan to become a regional hub for transit trade and investment soon due to CPEC, Economic Affairs Minister

By Shafqat Ali | Gwadar Pro Oct 6, 2021

ISLAMABAD, October 6: Federal Minister for Economic Affairs Omar Ayub Khan said on Tuesday afternoon that Pakistan would be a regional hub for transit trade and investment opportunities in the near future thanks to CPEC.

In a meeting here with The Kazakhstan Ambassador Yerzhan Kistafin at his office, Khan highlighted that there was huge potential for enhancing bilateral trade and investment between the two countries, especially in CPEC SEZs.

He particularly emphasized the importance of regional connectivity and Pakistan’s pivotal position in providing the shortest access between the land-locked Central Asian States and the Arabian Sea. The Minister stressed on establishing direct air links between the two countries.

The Minister expressed that the friendship between the two sides is enduring and is based on the principles of mutual respect, regional peace and economic integration.

The Minister maintained that regional cooperation and economic integration are effective ways to unleash economic opportunities.

Both sides exchanged views on bilateral relations and discussed key regional issues. Furthermore, they also discussed the other priorities areas, including agriculture, tourism and media.

Ambassador Yerzhan Kistafin on the occasion, underlined the excellent diplomatic and economic relations between the two countries.

The Ambassador also referred to the importance of regional integration and connectivity between Central Asia and Pakistan which would help unleash economic opportunities in the region through enhanced trade, investment and tourism.

He observed that presently, the level of economic cooperation is much below the potential of both countries and stressed on enhancing business-to-business contacts through the private sector.

The Ambassador of Kazakhstan informed that the President of the Republic of Kazakhstan had accepted the invitation to visit Pakistan next year. In order to enhance bilateral economic cooperation, he also proposed to hold the next meeting of Kaz-Pak Inter-Governmental Joint Commission on November 23 in Almaty.

He mentioned that three working groups on economic cooperation, energy and transportation have already been established to prepare the proposals for the upcoming Kaz-Pak Inter-Governmental Joint Commission. The Minister for Economic Affairs thanked the Kazakh Ambassador for his pivotal role in strengthening diplomatic and economic relations.

The Minister reiterated the strong commitment of the Government of Pakistan towards further expanding bilateral economic cooperation through enhanced trade, investment, tourism and business to business contacts.

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