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Business & Finance

Alvi calls for establishment of a trade triangle among Pakistan, China & ASEAN

  • The President said despite the challenge of the Coronavirus pandemic, Pakistan's economy strengthened and its online businesses grew due to the implementation of far-reaching economic reforms.
27 Nov 2020

President Dr. Arif Alvi Friday proposed establishing a trade triangle between Pakistan, China, and the Association of Southeast Asian Nations (ASEAN) to maximize the quantum of intra-regional business opportunities.

In his virtual address to the 17th China-ASEAN Expo held in China's Nanning city, the President said Pakistan's stable macro-economic policies and ease of doing business offered an attractive market to both China and the ASEAN countries for trade cooperation in diverse areas.

The President said despite the challenge of the Coronavirus pandemic, Pakistan's economy strengthened and its online businesses grew due to the implementation of far-reaching economic reforms.

Alvi said we encourage the ASEAN countries and the Chinese businessmen to invest in SEZs as Pakistan's macro-economic policies have changed tremendously with an improved state of ease of doing business.

On exports to ASEAN and China, he said, textiles, food produce including meat and vegetables, surgical goods, minerals, and Information Technology could be the prospective areas.

Global financial bodies have praised Pakistan’s economic policies amid the Coronavirus pandemic. “Pakistan’s economy has shown remarkable resilience to the pandemic, placing it in a strong position to rebound quickly from the shock,” said Børge Brende, President, World Economic Forum.

Earlier, the World Economic Forum hosted a “Special Dialogue with Prime Minister Imran Khan,” during the virtual session, Khan explained the policy priorities of the Government of Pakistan, including regional connectivity projects like the China-Pakistan Economic Corridor (CPEC), and progress on talks to improve trade flows between Afghanistan and Pakistan following his visit last week to the Afghan capital. Khan also responded to questions from chief executives on promoting a digital economy in Pakistan and improving the enabling environment for long-term investors.

“My aim is for Pakistan’s economy to emerge greener, fairer and stronger from the pandemic. It is crucial for us to work with the international business community and partners like the World Economic Forum to share the important reforms underway here and help global businesses participate in the emerging opportunities in Pakistan,” said Imran Khan.