BRI has phenomenal importance for trade and connectivity: Official
Islamabad: Coordinator to Federal Tax Ombudsman Meher Kashif Younis has said that the Belt and Road Initiatives (BRI) has phenomenal importance for trade and connectivity.
Addressing a seminar titled ‘Regional Connectivity-Economic and Trade Opportunities for Pakistan with Golden Ring Countries (GRCs) and Central Asian Republics (CARs),’ through zoom here Meher Kashif Younis maintained that Pakistan, apart from Europe, Far East and Gulf should also mainly focus on promotion of bilateral trade with regional states especially with neighbouring countries.
“The Golden Ring has the potential to become the most lucrative economic centre of the world after BRI’s CPEC (China-Pakistan Economic Corridor),” he mentioned.
The successful connectivity, he opined, will enable energy trade through pipelines, land and sea routes among these countries, he said adding that in the prevailing scenario, the importance of Pakistan is increasingly becoming reality in the light of integration waved launched by China and patronised by Russia.
He stressed that Pakistan should also work closely with China, Russia, Turkey, Iran and Afghanistan to reap colossal economic benefits from available abundant trade prospects.
“Although Pakistan is an economically fragile country yet China needs it more than anything else. CPEC will not only increase regional connectivity but also help in minimising the trade deficit,” he added.
Younis claimed that Pakistan was a land of opportunities enriched with natural resources green gold, deep warm water in Gwadar with more than 60% of its total population comprising of youth and above all its geo strategic location which tremendously increases its importance especially in the last two decades with the emergence of China as a one of world economic superpower.
“Pakistan must fully explore untapped vast trade and investment avenues in Golden Ring countries and Central Asian Republics to strengthen economic integration besides promoting bilateral cooperation for quick economic growth and development in the region,” he contended.
He pointed out that Pakistan was situated at significant location of South Asia providing shortest route to landlocked CARs to reach Indian Ocean and the rest of the world.
He observed that Central Asia was historically and closely tied to Silk Road trade routes acting as a crossroads for the movement of people, goods between Europe and the Far East and Pakistan must act as its bridge.
He emphasized that Pakistan can attract million of dollars through this connectivity. “Afghanistan will also get big slice of profit as well provided durable peace, security and political stability is allowed to stay,” he noted.
Younis underlined that now connectivity had become a substantial trend for modern economies. He underscored that mega projects of inter-regional connectivity had been crucial in economic development and regional integration.
