Pak­istan to ‘Look East’

Enterprise - - Investment -

its bar­gain­ing power will be max­i­mized. In­de­pen­dently, ASEAN coun­tries are small; to­gether, they are a force to be reck­oned with.

Pak­istan may uti­lize the trade and in­vest­ment re­la­tions be­tween US-ASEAN and Chi­naASEAN. In ad­di­tion, with Pak­istan grant­ing In­dia the MFN sta­tus, the eas­ing of ten­sions could lay the foun­da­tion for bet­ter ac­cess to the In­dian mar­kets and be­yond. The im­por­tance of In­dia lies in the coun­try’s es­tab­lished role in the Asia Pa­cific re­gion. Pak­istan has also sought in­clu­sion in ASEAN Re­gional Forum (ARF) and ASEAN.

More­over, in re­sponse to global fi­nan­cial cri­sis, UN’S Eco­nomic and So­cial Com­mis­sion for Asia and the Pa­cific (ES­CAP) is pro­mot­ing eco-ef­fi­cient con­nec­tiv­ity in the Asia-pa­cific re­gion through a five pronged ap­proach that en­com­passed im­proved trans­port routes, a “pa­per­less trad­ing sys­tem”, in­vest­ment within the re­gion, en­ergy se­cu­rity and so­cial pro­tec­tion.

The UN’S work on the Asia Pa­cific Trade Agree­ment as well as the Asian High­way and Trans-asian Rail­way are cor­ner­stones of this strat­egy. The 114,000 kilo­me­tres of rail­way would link coun­tries from Sin­ga­pore to Turkey and 142,000 kilome­tre road net­work con­nect­ing 32 Asian coun­tries with Europe.

The ASEAN coun­tries have also vowed to in­tro­duce one visa regime for cit­i­zens from coun­tries out­side ASEAN by 2015 (Sim­i­lar to Schen­gen visa in the Euro­pean Union). The Asia-pa­cific re­gion en­joys multi-tril­lion dol­lars in for­eign ex­change re­serves, en­abling the re­gion to bal­ance it with emerg­ing in­vest­ment op­por­tu­ni­ties in re­gional in­fra­struc­ture and public goods

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.