Pakistan proposes Saarc economic union

[Neo]

Pakistan proposes Saarc economic union ​

ISLAMABAD (July 05 2008): Pakistan has floated the idea of following European Union as a model to form Saarc Economic Union for promoting trade, investment and monetary union among its member countries.

Pakistan's official delegation, headed by a senior official of Finance Ministry, in a 2-day Saarc technical meeting held in Katmandu, Nepal from July 1, floated the idea of forming 'Saarc Economic Union' on European Union pattern.

Sources said the Katmandu Saarc meeting also approved Pakistan's proposal of including Saarc teachers programme in Saarc Development Fund (SDF). As per proposal, Pakistan will train teachers for providing quality education in all Saarc countries. It will also submit a paper to Saarc Secretariat in a month on cross-border investment.

The technical meeting also approved India's proposal of including child-mother health programme in SDF in which India would also provide maternity healthcare training to provide child-mother healthcare services among member countries. Katmandu meeting also assigned different projects to member countries for making things happen to turn the idea of forming Saarc Economic Union into a reality within the shortest possible period.

Pakistan has also been given the task to prepare strategy paper on corporate governance in public sector. India will be responsible to prepare a paper for harmonising the trade and investment laws for removing bottlenecks in regional trade and investment.

Pakistan had put up the idea of forming Saarc Economic Union for promotion of trade investment and bring the member countries closer at Saarc summit held in 2005. Since then it has been working closely with member countries for turning the idea into a reality.

The Saarc countries, including India, are on board on the proposed formation of Saarc Economic Union. The policy makers in Islamabad are convinced that Pakistan's proposal for following European Union as model floated in Katmandu for promotion of trade and investment would work up to the expectations of the member countries.

However, since it is a delicate issue which involves a number of serious subjects like customs union, monetary union and formation of a taxation mechanism, the policy makers in Islamabad believe that a journey to turn the idea into a reality for Saarc Economic Council would require a reasonable time. They are convinced that once Saarc Economic Union comes into existence it will be the best forum for ensuring a win-win situation for all member countries.

Business Recorder [Pakistan's First Financial Daily]

 

[araz]

Although in theory it would be a good step, Iwonder what would be the impact of this move on our market and industry. With a population base equal to 1/3 rd of the world, it would make a huge hub for furthering trade and finance. India would obviously be a major partner.
Araz

 

[maqsad]

This would mean eventual political union with India, this is what happened with the EU where you have some people in Brussells dictating more and more what individual European countries can and cannot do.

Not like the govt of Pakistan has any inkling of what sovereignty is, judging by the way they sell everything off to the highest bidder for chump change to line their pockets but still, there was a hope once...

 

[Goodperson]

India would be a big partner in Saarc, As Saarc cannot itself exists without India. Pakistan would rather like to have role of China in Saarc to counter India.

European like union is difficult because we have clashes of culture and peoples hawkish view about neighbors.

Terrorism is not going to leave the subcontinent soon.

 

[asaad-ul-islam]

sorry guys, but that would give india total domination over the entire sub-continent. this is what happens when you appoint a jahel thug like Zardari, who by the way wanted to sell Pakistan as a virgin girl to India, as the head of pakistan.

PPP, thru their religion's founder, Zulfiqar Ali Bhutto, totally destroyed corporate Pakistan. he nationalized everything, look at where we are now? did you guys know that South Koreans based their economic policies on ours, during Ayub Khan's era?

in the 60's pakistan was a dynamic and progressive state, I've talked with former students of the time who used to take a train and also drive to Pakistan from Europe. They all went on scholarships provided by our corporations, thousands of students.

Pakistan used to build ships and dams for China, now they build ships and dams for us! it's a shame, it really is. goodness, I'm sorry, I was cursing Bhutto again. back to the subject!

what can we possibly offer to India? Large indian companies will take over and dominate pakistan, while we can do nothing in return. we don't have any large corporation in Pakistan, even worth mentioning.

look at the morons who are running our govt., itching to estabilish FTA here and there. tell me, what has estabilishing a FTA with China gotten us? a huge trade deficit, obviously in China's favour. Pakistan has been taken over by China and Dubai, sh!t our politicians even go to Dubai to make national decisions.

 

[maqsad]

The pakistani economy does not need free trade or economic unions. It needs the exact opposite right now: sanctions and restrictions on what sort of trade and investment can occur across the borders. Only if something benefits the pakistani economy should it be allowed.

Too many pakistanis have been infected by this disease called bhangeeconomics which attacks the brain and turns the victim into a neocolonial lacky who smiles and cheers every time the pakistani economy gets exploited and looted. This disease needs to be eradicated!

 

[Vinod2070]

The pakistani economy does not need free trade or economic unions. It needs the exact opposite right now: sanctions and restrictions on what sort of trade and investment can occur across the borders. Only if something benefits the pakistani economy should it be allowed.

Too many pakistanis have been infected by this disease called bhangeeconomics which attacks the brain and turns the victim into a neocolonial lacky who smiles and cheers every time the pakistani economy gets exploited and looted. This disease needs to be eradicated!

Care to explain this neo term!

Never read it in my last semester economics course.

 

[Flintlock]

Why will it undermine the sovereignty of Pakistan?

 

[maqsad]

Care to explain this neo term!

Never read it in my last semester economics course.

The explanation is given in the same sentence where you read the term. Bhangeeconomics is a mental disease which infects pakistanis and makes them turn over ownership and control of lucrative state and locally owned enterprises for pennies on the dollar to anyone with money who extends a bribe and a boot to be licked. This is one of it's most common symptoms.

On a macroeconomic/sociological level the symptom is what assad-ul-islaam described in his post above.

 

[maqsad]

Why will it undermine the sovereignty of Pakistan?

Because it is just step 1 of swallowing up Pakistan into India. First there will be economic integration during which period all the twotiming backstabbing vatan farokht politicians of Pakistan will double their efforts of ripping of the state and selling off industry and property to foreigners, except this time instead of just selling everything that is not nailed down to the Chinese, British and Arabs they will sell the vast majority to India's businessmen.

This will mean all the twobit politicians, govt officials, lawyers, judges, press owners etc will start selling out to Indian interests more than anyone else. So next time sold out moles like Musharraf/Aziz try to sell something like the steel mills to a person like Laxmi Mittal it will go through because nobody like Iftekhar Chaudri will be left, they will all be on RAW's payroll.

 

[Vinod2070]

The explanation is given in the same sentence where you read the term. Bhangeeconomics is a mental disease which infects pakistanis and makes them turn over ownership and control of lucrative state and locally owned enterprises for pennies on the dollar to anyone with money who extends a bribe and a boot to be licked. This is one of it's most common symptoms.

On a macroeconomic/sociological level the symptom is what assad-ul-islaam described in his post above.

Good. As you say.

Thx. for the explanation.

 

[Goodperson]

What a weird logic and thinking please read topic title before posting. Its about Pakistan proposing Saarc unioin.

 

[maqsad]

What a weird logic and thinking please read topic title before posting. Its about Pakistan proposing Saarc unioin.

And the SAARC union has a direct effect on Pakistani sovereignty and independence so it is not off topic at all.

 

[Contrarian]

Pakistan itself has been the largest obstacle to a SAFTA. They dont want an FTA with India while they are trying to get an FTA with every other country possible including China. And mind you, an FTA with China would absolutely destroy their local industry, no country, including India can match China's flood of low cost imports.

From my perspective, they are doing all the things they shouldnt do. Pakistan should have an FTA with India, because the economies are quite similar in nature unlike China's. There will not be cheap imports in Pakistan from India as India does not produce that kind of goods at those prices, and instead Pakistan can easily export cement and steel and other goods to India. As of now, Pakistan's major export to China-like India are raw materials. Having an FTA with China would collapse their own industries.

Instead Pakistan insists on still using the 'approved goods list' with India, as is pointed out often, trade cannot commence with India until 'other issues are resolved'. This is the single most important factor that is not allowing SAFTA to go through.

 

[salman nedian]

IMO as I have always said that keeping the relations with India in mind and trade deficit the only possible and beneficial union for us in south Asia is with Bangladesh. We have the world’s third largest population and it would be a big market.