April 21, 2023 (MLN): President SAARC Chambers of Commerce and Industry Iftikhar Ali Malik on Friday stressed the urgent need of unlocking the potential of regional economic cooperation and integration to boost trade among SAARC member countries, especially with Afghanistan at this critical juncture.
While talking to a delegation of traders, he said inter-regional trade in South Asia was less than one-third of its potential, which indicates 67% of trade was not being fully exploited, as APP reported.
He was of the view that the role of Afghanistan as a connector and as a land bridge between Central Asia, the Middle East, and South Asia needs to be reviewed in the prevailing scenario to primarily focus on the promotion of trade and investment.
"Even today, Afghanistan is seen as a viable doorway to South Asian countries for direct access to oil and gas of the republics of Tajikistan, Turkmenistan, Kyrgyzstan, and Uzbekistan," he added.
Better trade ties would help promote economic growth and to do away with abject poverty in the region, specifically in Afghanistan thus enhancing its cross-border and transit trade with neighboring countries, he noted.
He said poor trade facilitation at borders and the prevalence of a variety of non-tariff barriers were major hurdles in further enhancing mutual trade manifolds with Afghanistan.
Pakistan after Iran and China was the third largest trading partner of Afghanistan, which exports cement, pharmaceuticals products, sulfur, stone, plaster, peel of citrus fruit, melon, vegetable fats, edible fruits, and oil, etc.
