Trade curbs continue to stifle South Asian economies: Dar

KARACHI: Deputy Prime Minister and Foreign Minister Ishaq Dar emphasized that trade restrictions remain the biggest hurdle for South Asia, with a mere 5 percent of internal trade conducted within the region.

Dar made these remarks while addressing the “South Asia Economic Outlook: Challenges and Opportunities” SAFA Conference, organized by the Institute of Chartered Accountants Pakistan (ICAP) via Zoom.

Dar stressed the importance of discussing trade agreements and alternative energy sources, highlighting the potential for growth in accounting services and exports. He expressed hope that the SAFA Conference would provide valuable recommendations for regional development.

The Deputy Prime Minister also underscored the significance of unity, stating it is the region’s core strength. He reaffirmed Pakistan’s commitment to its reform agenda, aiming to create a conducive environment for investment and exports.

CA Sri Lanka President Heshana Kuruppu congratulated Ashfaq Tola on his election as SAFA President, noting that SAFA represents 475,000 members. Kuruppu emphasized the need for collective progress in implementing open policies, empowering women, and addressing governance challenges.

SAFA President Ashfaq Tola said that South Asia, home to 1.92 billion people, contributes only 5% to global trade. In contrast, ASEAN, with a smaller population, contributes 25%.

Tola announced plans to approach finance ministers across the region to advocate for a unified policy aimed at enhancing the prosperity of the common man.

Copyright Business Recorder, 2025