Pakistan to help Afghanistan development, regional integration: Hafeez Shaikh

WASHINGTON: Pakistan stands by Afghanistan as it navigates through transition after a decade-long war and prepeares a platform for realizing its economic potential in line with aspirations of the Afghan people, Finance Miniser Dr Abdul Hafeez Shaikh said.

He was speaking at an event "Transition and Resource Corridor in Afghanistan," co-chaired by the World Bank and Afghanistan during the IMF-WB meetings.

Dr Shaikh, who is leading the Pakistani delegation to the annual meetings, remarked that history teaches peace, security and regional integration are critical to sustaining development. Islamabad, for its part, is committed to facilitating progress towards these objectives.

The Pakistani finance leader said he has worked hard with his Afghan counterpart Dr Omar Zakhilwal to promote trade, investment and business activity.

"Our trade has crossed $ one billion --- despite budgetary constraints Islamabad has committed $ 330 million for development of health, infrastructure and education sectors in Afghanistan," said Dr Shaikh, while referring to Pakistan's efforts to assist its conflict-hit Western neighbor.

Pakistan is also crucially contributing to expansion in Afghan trade with the international community.

In this respect, a landmark development has been the realization of the new Transit Trade Agreement that allows landlocked Afghanistan to truck its products all across Pakistan to Wagah border with India on the East as well as to other countries through ports of Gwadar and Karachi.

Additionally, rail and road links are being upgraded.

"All this will help make Afghanistan a central location for trade and economic activity between South and Central Asia."

In the field of energy, regional initiatives, including Turkmenistan- Afghanistan-Pakistan-India gas pipeline and CASA 1000 MW electricity grid project are also being pursued.

Dr Shaikh said regional economic development must progress on the foundations of realism, practicality, private sector participation and institutional arrangements.

"Two decades ago, a conflict in Afghanistan was won but peace was lost and the world has paid a heavy price. Let's ensure that this time peace is won," Shaikh stressed.

Islamabad remains committed to helping Afghanistan in its economic development and the event is a timely step in the right direction, he added.

"We will cooperate with sincerity and enthusiasm to promote regional development and through it help bring prosperity to Afghanistan."

Copyright APP (Associated Press of Pakistan), 2011