ISLAMABAD: Pakistan and the Association of Southeast Asian Nations (Asean) countries need to introduce new dimensions for enhancing bilateral trade and economic ties, a diplomat said.
Asean Islamabad Committee chairman and Indonesian Ambassador to Pakistan Adam M Tugio stated this, while talking to APP, on the sidelines of the roundtable conference, jointly organised by the Pakistan-Asean Business Forum and United Business Group (UBG) in Islamabad.
The ambassador said the relations between the two governments, the business community and the people on both sides need to be further improved.
There was a need to reestablish Pakistan’s relations with Asean countries through renewing the link between the business communities of both sides.
Direct air links to Asean countries and Pakistan in the near future, bilateral free trade agreement (FTA), trade dialogue and aggressive economic diplomacy, business-to-business and government-to-government cooperation, elevation from the sectoral to full dialogue partner and strong multilateral linkages between the institutions could pave new avenues for economic and trade cooperation, senior diplomats proposed.
The ambassador said there has been a major policy breakthrough under the government, adding that the government had shifted its policy from geopolitical to geo-economic approach, which would further strengthen Pakistan’s economic and trade relations with the potential trading partner such as Asean.
The Indonesian envoy said the relations between the two sides, business communities and the people-to-people contacts were considered important, as well as expanding bilateral trade in accordance with the trade and economic capabilities and implementation of economic and trade policies and agreements.
Pakistan also has a free trade agreement with China and the same FTA had been signed between Asean and China from which both countries can benefit.
Pakistan and Asean needed to work on more potential sectors and increase their regional approach for increasing bilateral trade in more sectors and increase their regional approach for bilateral trade.
Speaking on the occasion, United Business Group (UBG) president Zubair Tufail said that the volume of bilateral trade between Asean and Pakistan was only $7 billion, which was far below its potential.
The Asean countries developed economically through the regional economic and trade alliance and the development of Asean countries, Indonesia, Malaysia, Vietnam and Thailand is unprecedented.
UBG General Secretary and former ICCI president Zafar Bakhtawari said a Free Trade Agreement was needed between Pakistan and Asean to promote economic and trade relations between the two sides.
There should be a direct air link between the Asean countries and Pakistan to enhance bilateral ties, he said, adding that the industry should be shifted from Asean and industrial cooperation should be further enhanced.
The trade, economic, cultural and people-to-people contacts between the two sides would have to be further enhanced, he added.
