Asia to become economic powerhouse by next decade

[Neo]

Asia to become economic powerhouse by next decade​

ISLAMABAD (October 01 2008): Pakistan Economy Watch has said that only regional cooperation can provide relief to 500 million poor living in South Asia. Political differences, if set aside, will spur new era of growth and Pakistan will reap dividends as Asia will be world's centre of economic activity by next decade.

Pakistan needs to avail this chance and initiate preparation as we have missed many opportunities in past, Dr Murtaza Mughal, President, Pakistan Economy Watch said. "No doubt that Pakistan will be world's leader in textiles and banking," he added. He said 500 million people are living below poverty line in South Asia and their plight will only end if region can grow at a rate of eight per cent, which is only possible in presence of enhanced regional trade.

He said that regional trade is five per cent of the total Saarc trade activity while trade among Association of Southeast Asian Nations is 30 per cent. Intra-European Union commerce has been estimated at around 55 per cent. He said that a common strategy is needed for the purpose and India should rethink about her aims of regional dominance and expansionism. Otherwise, Dr Murtaza Mughal said, everybody including New Delhi will be at the loosing end.

He said that New Delhi is mulling to ban FDI from Pakistan which will sent very negative signals. Pakistan and India have lead role in regional grouping and the two countries can promise a good future to masses if they show flexibility, which will immediately result in augmented bilateral trade to the tune of 10 billion USD.

He said that the region need to focus on FDI, tourism, deficits and technical expertise in which it is behind other regions. "Political differences, corruption, lack of proper infrastructure etc are also stumbling blocks," said Dr Murtaza Mughal. He said agriculture insurance is a very positive step that can change the fate of Pakistan if executed properly.

 

[Zaheerkhan]

This is certainly the Dawn of the asian century, Asia is going to be the centre of world commerce in the coming century...The future for asia looks really bright with China and India leading the pack with a lot of expectations from people around the world. We have growing small countries like Bangladesh,Thailand, Phillipines. We have leading economic centres like Singapore, Japan, South korea.

For Pakistan, business relations with India is the way forward, if it wants to bail itself out of this current economic problems, as Mr. Zardari said, Pakistan can transform itself into a sort of force multiplier for India to break into the big league. For a country, economic interests come first, no matter what..thats the only way forward.

 

[Contrarian]

That was Zardari playing to the crowds trying to act the 'leader'. There will be no change in Pakistan's position, they are still trying to block any kind of trade with India.

 

[Spring Onion]

That was Zardari playing to the crowds trying to act the 'leader'. There will be no change in Pakistan's position, they are still trying to block any kind of trade with India.

well if India sitting in Afghanistan trying its level best to weaken us economicaly as well as at other levels besides blocking Pakistan's efforts to reach CARs along with others then my dear how can we allow trade at the cost of our integrety.

There are other countries with whome we can have trade but there are hardly one or two countries with whome we can be engaged for strategic safe-gaurd.

 

[Contrarian]

well if India sitting in Afghanistan trying its level best to weaken us economicaly as well as at other levels besides blocking Pakistan's efforts to reach CARs along with others then my dear how can we allow trade at the cost of our integrety.

The usual rant. Trade is what will make India and Pakistan dependent on each other and have a stake in each others prosperity.

 

[Goodperson]

Asia to become economic powerhouse by next decade​

ISLAMABAD (October 01 2008): Pakistan Economy Watch has said that only regional cooperation can provide relief to 500 million poor living in South Asia. Political differences, if set aside, will spur new era of growth and Pakistan will reap dividends as Asia will be world's centre of economic activity by next decade.

Pakistan needs to avail this chance and initiate preparation as we have missed many opportunities in past, Dr Murtaza Mughal, President, Pakistan Economy Watch said. "No doubt that Pakistan will be world's leader in textiles and banking," he added. He said 500 million people are living below poverty line in South Asia and their plight will only end if region can grow at a rate of eight per cent, which is only possible in presence of enhanced regional trade.

He said that regional trade is five per cent of the total Saarc trade activity while trade among Association of Southeast Asian Nations is 30 per cent. Intra-European Union commerce has been estimated at around 55 per cent. He said that a common strategy is needed for the purpose and India should rethink about her aims of regional dominance and expansionism. Otherwise, Dr Murtaza Mughal said, everybody including New Delhi will be at the loosing end.

He said that New Delhi is mulling to ban FDI from Pakistan which will sent very negative signals. Pakistan and India have lead role in regional grouping and the two countries can promise a good future to masses if they show flexibility, which will immediately result in augmented bilateral trade to the tune of 10 billion USD.

He said that the region need to focus on FDI, tourism, deficits and technical expertise in which it is behind other regions. "Political differences, corruption, lack of proper infrastructure etc are also stumbling blocks," said Dr Murtaza Mughal. He said agriculture insurance is a very positive step that can change the fate of Pakistan if executed properly.

Regional cooperation is a must, Mulling ban is anticipated as long as pakistan does not return the favor or does not reciprocate MFN status.
However Delhi policies are quite in favor of trade with other SAARC countries the trade is increasing.