Commerce Minister reaffirms Pakistan’s strong commitment to ‘One China’ policy

Islamabad: Pakistani Federal Minister for Commerce Syed Naveed Qamar has reaffirmed Pakistan’s strong commitment to the ‘One-China’ Policy and strong support to China’s sovereignty and territorial integrity.

Addressing a two-day Shanghai Cooperation Organization (SCO) Economic Forum in Tashkent, he stressed that Pakistan’s policy on ‘One China” was unshakable.

Pakistan, the minister added, also attached great importance to the SCO as “it allows us to underscore our interest in regional peace, stability and development and support for regional cooperation.”

He remarked: “It would not only provide a platform to forge closer ties with China and Russia; the two key players in the region, but also “allow us to explore greater economic linkages and cooperation with Central Asian countries in the areas of energy and transport, and would help us in promoting Pakistan as a regional trade corridor.”

Qamar emphasized stressed on the need to enhance cooperation among the member states of SCO in various fields, including regional trade, economy, investment, and science and technology.

Trough the inter-regional relations, the SCO had gained significant development, however, their full potentials had not yet been exploited, he opined.

The minister said regional trade, economy, investment, science and technology, cultural-humanitarian and other opportunities could significantly strengthen the foundation of cooperation among the SCO member states.

“I am delighted to say that Pakistan, ever since its accession as full member, has desired to play a pro-active role towards promotion of cooperation in political, security, economic, cultural, and legal areas,” he stated.

Pakistan, he maintained, shares with the SCO and its members, deep rooted historical and cultural links, and strong economic and strategic complementarities.

“We are fully committed to promoting the Shanghai Spirit which lays emphasis on equality, trust, coexistence, respect for cultural diversity, and a desire for shared development,” Qamar observed.

The minister said as per a report of the International Monetary Fund (IMF), in 2021 the average Gross Domestic Product (GDP) growth of the SCO member states was about 5.3%. Trade volume (exports) of Pakistan with SCO states reached US $3.44 billion with an increase of 30.6% during the Financial Year 2021-22, he informed.

He mentioned that Pakistan was making efforts to move away from a consumptive economy towards an investment and export-driven economy.

“We intend to achieve this through free trade and transit agreements, regional connectivity, the ‘Make in Pakistan’ initiatives, rationalization of tariffs, and an industrial policy framework, which will put Pakistan on the path of industrialization,” Qamar underscored.

He said Pakistan was working to gain greater market access for its exports, and diversify markets and the export basket along with establishing linkages for industrial innovation and production. “It could only be achieved through greater openness of the economy,” he contended.

He recalled that Pakistan proposed at Qingdao that the establishment of Pakistan-SCO Trade, Transit and Energy Corridor would offer the SCO member states the use of its road and rail network, and access to international sea lines of communication for trade, transit and commercial logistics through Karachi and Gwadar.

“It would also realize the cherished aspiration of land and maritime connectivity among the middle East, Central Asia, China and South Asia,” he added.

For regional connectivity, the minister said, Pakistan had started negotiations with the SCO states to tap the transit potential of the region for trade and regional connectivity, and actively pursuing to materialize the long term arrangement.

Qamar was optimistic that this forum would create a dialogue platform to discuss problems and prospects for mutually beneficial trade-economic, investment and cultural- humanitarian cooperation among SCO member states and operate based on the principles of openness. Pakistan, he underlined, was looking forward to the meetings of business council, exhibitions fairs, business forums and other events of the interested parties under the SCO to enhance further cooperation among the member states.

He said Pakistan fully shared the SCO’s strong support for multilateralism, free and transparent trade according to the WTO (World Trade Organization) rules and enhanced economic cooperation among its member states.