ENVOYS URGE TO TAP HUGE MARKET OF ASEAN – CALL FOR FINALIZATION OF FTA ASAP

Islamabad: Envoys at a special meeting on “Pakistan-ASEAN Economic Linkages” urged to tap the huge market of the Association of Southeast Asian Nations (ASEAN). The speakers called for finalizing the Free Trade Agreement (FTA) between Pakistan and ASEAN as early as possible.

The meeting was organized by the Asian Institute of Eco-civilization Research and Development (AIERD) in Islamabad which was well attended by the Ambassadors of Indonesia, Vietnam, Malaysia, Brunei Darussalam, and Philippine, among others, President RCCI Nadeem Rauf, and faculty of AIERD. The meeting also discussed the possibility of China-Pakistan Economic Corridor (CPEC) third party cooperation with the hope that it would bring prosperity to the region.

Mr. Adam Mulawarman Tugio, Ambassador of Indonesia in his address proposed that there should be a focal desk at RCCI to promote economic and trade linkages between Pakistan-ASEAN.

Mr. Deddy Faisal Ahmad Salleh, Charge’d Affair High Commission of Malaysia said that Malaysia is working to enhance connectivity with Pakistan and trying to operationalize direct flights.

Mr. Nguyen Tien Phong, ambassador of Vietnam stressed the need for stability, continuity, and consistency in policies for improving economic and trade linkages.

Ms. Maria Agnes M. Cervantes Chargé D’affaires of the Philippines urged to enhance the linkages through improved exchanges.

Mr. Abdul Mubdi’ Osman, Brunei Darussalam, shared that Brunei offered good opportunities to invest and trade, especially in the field of LNG.

Zahid Latif Khan Chairman, AIERD, in his address said that with ASEAN’s US$ 3 trillion economic power and a large market of 650 million people in the region, the mutual US$7 billion trade between ASEAN and Pakistan is far below its potential. The economic and trade relations between Pakistan and ASEAN need to be further enhanced, he added.

Nadeem Rauf, President RCCI said that Pakistan is a land of opportunities with diverse economic fields, geography, and potential to become the hub of connectivity and ASAEN must explore avenues to benefit from these opportunities, he added. He suggested that RCCI and AIERD will jointly work to establish the Desk aiming to promote trade ties and information related to ASEAN.

During the open discussion, Mr Bilal proposed that Pakistan-ASEAN should work on establishing a special economic zone in Pakistan. “It will be an excellent initiative to deepen the regional linkages and create new economic opportunities,” he added.

Mr. Shakeel Ahamd Ramay, Chief Executive Officer of AIERD, concluded that Pakistan and ASEAN should work to boost the relationship based on the win-win cooperation. Besides trade and investment, cooperation in other fields including health, education, agriculture as well as media and arts is also the need of the hour to cement the ties between the people and governments of ASEAN and Pakistan.