Lahore (Nut Desk)
Welcoming the tripartite dialogues between China, Pakistan and Afghanistan, Pakistan Business Forum (PBF) Lahore President and Executive Committee member of the Lahore Chamber of Commerce & Industry Muhammad Ejaz Tanveer said these parleys are very significant due to the strategic location of these countries and their complementary economic strengths.
In a statement issued here on Monday, Muhammad Ejaz Tanveer said Pakistan shares a border with both China and Afghanistan, making it a key trade hub between the two countries. This proximity makes the transportation of goods faster and more cost-effective.
Similarly, China is a major exporter of manufactured goods, while Afghanistan and Pakistan have abundant natural resources, such as minerals, precious stones, and agricultural products. This creates opportunities for trade in both raw materials and finished goods, he added.
China has been investing heavily in infrastructure development in Pakistan through the China-Pakistan Economic Corridor (CPEC) project. This includes the construction of highways, railways, and ports that will improve connectivity and trade between the three countries.
He said that China and Pakistan have a Free Trade Agreement (FTA) that has been in effect since 2006, which has resulted in increased trade between the two countries. Pakistan and Afghanistan are also working towards a bilateral Preferential Trade Agreement (PTA) that would further reduce trade barriers and collaboration of these three countries will lead to new avenues of economic prosperity in the region, Ejaz observed.
Greater trade between Pakistan, China, and Afghanistan could facilitate greater regional integration and cooperation, which could lead to increased trade with other neighbouring countries.
Overall, the potential for trade between Pakistan, China, and Afghanistan is significant. Greater trade and economic cooperation between the three countries could lead to increased economic growth, job creation, and regional stability.
These dialogues will also promote peace and stability in the region. The dialogue can help to reduce tensions between the countries, increase mutual trust, and facilitate cooperation on security issues, PBF President Ejaz Tanveer concluded.