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

China Economic Net

Islamabad: Federal Minister for Economic Affairs Omar Ayub Khan has said that Pakistan would be a regional hub for transit trade and investment opportunism in the near future thanks to the China-Pakistan Economic Corridor (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 the CPEC Special Economic Zones (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 linkages between the two countries.

The Minister expressed that the friendship between the two sides was 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 the economic opportunities.

Both the 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 with the Central Asia and Pakistan which would help to 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 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 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 strong commitment of the Government of Pakistan towards further expanding bilateral economic cooperation through enhanced trade, investment, tourism and business to business contacts.