ISLAMABAD: Hard on the heels of a recent trans-Pacific trade pact involving the US, Japan and 10 other countries, the South and Central Asia are making strides in the search for regional integration.
This partnership between the two close regions will lead to economic development in many countries, especially Pakistan, which may turn into a transit trade hub. Tajikistan, on the other side, is emerging as a gateway between the South and Central Asian nations and is working with Pakistan on developing economic and transit trade corridors.
During a visit to Pakistan in the middle of this month, Tajikistan President Emomali Rahmon praised the China-Pakistan Economic Corridor (CPEC), insisting the project would facilitate economic and trade links between Pakistan and Tajikistan as well as other Central Asian states.
Prime Minister Nawaz Sharif, on his part, made an offer to Tajikistan to use Pakistan’s seaports for imports and exports as these provide the shortest route for movement of goods.
Pakistan is working with Central Asia on two energy projects – one with Turkmenistan for gas import and another with Tajikistan for electricity purchase.
Beijing also wants to reach Central Asia through the CPEC. As Afghanistan is not willing, China and Pakistan are working on an alternative route – the Quadrilateral Agreement on Traffic in Transit. This route will deprive Afghanistan of an opportunity to cash in on the benefits that will emerge from the CPEC.
Before the agreement on the $46-billion CPEC, Pakistan gave control of Gwadar Port to a Chinese company for developing and running the facility. China also plans to establish an oil refinery at the port.
source:Pakistan could turn into a transit trade hub - The Express Tribune
