ISLAMABAD: Pakistan Monday proposed transit trade agreements among member countries leading to the regional free trade agreement (RFTA) to expand trade between the CAREC countries.
Federal Minister for Economic Affairs Makhdoom Khusro Bakhtyar participated in the 19th Ministerial Conference of Central Asia Regional Economic Cooperation (CAREC) held virtually. The ministers and senior representatives of Afghanistan, Azerbaijan, China, Georgia, Kazakhstan, Kyrgyz Republic, Pakistan, Mongolia, Tajikistan, Turkmenistan, and Uzbekistan also addressed the conference.
Senior representatives of the ADB, the IMF, the WB, the AIIB, the IDB, the EBRD, the EIB, the OFID, the USAID, the UN agencies, the WTO, and the JICA, also attended the conference. The federal minister, in his remarks, highlighted the significance of regional cooperation such as CAREC for Pakistan in achieving shared goals of sustainable development and economic growth.
Bakhtyar reiterated the importance of regional connectivity not only through road network but also rail, aviation, and ports for unleashing trade and tourism potential in the region. While endorsing the framework, he emphasised that setting specific, measurable, attainable, relevant and time-bound (SMART) targets along with active monitoring and annual reporting, we can effectively monitor the progress leading to implementation of CAREC's Vision 2030.
The minister highlighted that tourism is part of national development policy of the Government of Pakistan, and this sector contains immense untapped potential.
He suggested the development of regional tourism corridor, establishment of the CAREC Business Council, and increased involvement of the private sector in promoting tourism. He further highlighted that the incumbent government is focusing on facilitating the private sector for increased investment. He also suggested enhanced visa facilitation regime in the form of "CAREC Sticker" for certain categories within the region.
The minister highlighted that in order to expand trade between the CAREC countries; Transit Trade Agreements among member countries leading to the Regional Free Trade Agreement (RFTA) may be considered. The minister endorsed the long-term CAREC strategies to promote regional tourism and gender mainstreaming. Furthermore, the CAREC enables the member countries to share thoughts and provide input for the long-term strategic frameworks to achieve envisaged regional cooperation goals.
He also suggested the CAREC institute to conduct comprehensive studies identifying underlying gaps and including roadmaps on mutually beneficial topics.
Pakistan attaches high importance to the CAREC as it is aligned with our national priorities of regional integration and cooperation, the minister stated.
According to an official statement issued by the Economic Affairs Ministry, President of Afghanistan Mohammad Ashraf Ghani, while delivering his special message, especially appreciated Prime Minister Imran Khan's recent visit to Kabul.
He termed PM Imran Khan's visit an importance milestone in strengthening bilateral ties and enhancing prospectus for regional cooperation and integration.
The CAREC Program is a partnership of 11 countries and six development partners working together to promote development through cooperation, leading to accelerated economic growth, and poverty reduction.
It is guided by the overarching vision of "Good Neighbors, Good Partners, and Good Prospects."
According to the ADB official statement, more rapid digitalization and leveraging the private sector can support the recovery from the coronavirus disease (Covid-19) pandemic, accelerate regional cooperation, drive innovation, and help countries adapt to new and evolving forms of globalisation, participants at the 19th Central Asia Regional Economic Cooperation (CAREC) Ministerial Conference.
"As the world emerges from the pandemic, we must revive our regional cooperation efforts with a spirit of open regionalism to enable CAREC to seize the opportunities of renewed globalization," said ADB President Masatsugu Asakawa in his keynote address. "This means expanding connectivity, rejuvenating trade, and embracing innovation and technology in ways that put the people of the CAREC region at its center. There is huge potential for adopting technologies that improve the monitoring of cross-border health threats, enable the use of telemedicine and online education, and raise food safety standards-while the private sector can play a crucial role as a driver of innovation."
The virtual event, under the theme "People-Centered Regional Cooperation in the Post-Covid Environment," was attended by President Mohammad Ashraf Ghani of Afghanistan, ministers, and senior officials from the 11 CAREC countries, and representatives from development partners.
The event was hosted by the Government of Afghanistan. Finance Minister of Afghanistan Abdul Hadi Arghandiwal chaired the meeting, and ADB Vice-President Shixin Chen co-chaired.
"Regional connectivity is one of the top priorities of our economic development agenda," said Ghani in his special address.
"The CAREC platform can help us fully integrate the infrastructure, systems, and programs, and share our common cultural values. The CAREC Program is a proactive facilitator of practical, results-based regional projects and policy initiatives critical to sustainable economic growth and shared prosperity in the region." As a high-level strategy and policy body, the CAREC is a partnership for its 11 members to promote economic growth and sustainable development through cooperation.
Since its inception in 2001, the programme has financed 208 regional infrastructure and trade projects worth $39.2 billion.
Projects have, for example, helped increase road and railway efficiency, streamline border-crossings, and improve access to energy for millions of people in the region.
Of the total, $14.7 billion has been financed by the ADB, $15.8 billion by other development partners, and $8.7 billion by the CAREC member governments. The CAREC ministers unanimously endorsed two new long-term strategies: a tourism strategy to develop safe and sustainable tourism destinations and provide jobs in the CAREC countries; and a gender strategy to improve access to economic opportunities for women and empower them in decision-making processes.
In a joint statement, the ministers commended the CAREC's efforts to address the challenges posed by the pandemic, and reaffirmed their commitment to regional cooperation and support for the CAREC's Strategy 2030. The ministers noted substantial progress in the CAREC's five priority areas, welcomed the forthcoming digital strategy to integrate information and communication technology into each priority area, and highlighted the continued financial and technical support of development partners.
Investments in the CAREC region in 2020 have further strengthened regional connectivity, including a new project to expand energy trade between Afghanistan and Uzbekistan, and provide 500,000 households and businesses with reliable access to electricity. The programme also completed a study on regional health cooperation, identifying opportunities to mitigate the spread of diseases, and improve health services for migrants and border communities.
"The CAREC region is home to a wide range of historical and cultural heritage sites; unique gastronomy and local traditions; a rich, unexplored network of cities; and arresting natural endowments that traverse national boundaries," said Asian Development Bank (ADB) Vice-President Shixin Chen, co-chair of the conference.
"Through the gradual implementation of regional initiatives, the CAREC Tourism Strategy 2030 will help the region bounce back from Covid-19 and establish itself as a sustainable, safe, and easily accessible tourism destination over the long term." In 2019, the CAREC countries generated more than 420 million domestic tourists but only received 41 million foreign tourists.
With the Covid-19 pandemic severely affecting global tourism in 2020, the CAREC Tourism Strategy 2030, accounts for the shift in travelers' preference towards closer, safer, and uncrowded destinations, while outlining a long-term plan to develop the region as an easily accessible tourism destination that provides visitors with a variety of unique experiences. The strategy provides a roadmap towards the enhancement of the region's connectivity through the harmonisation of visa requirements and quality standards, simplification of border crossing procedures, and improvement of tourism infrastructure and facilities. It also focuses on tourism skills development, while maximising the use of digital technologies. It aims to build a common brand, "Visit Silk Road", through the creation of a CAREC tourism web portal and joint promotional activities for tour operators and other business providers. It seeks to develop unique tourism products and experiences catering to various segments including business, culture, nature and adventure, sun and beach holidays, health and wellness, and domestic weekenders. "By fostering sustainable tourism growth in rural and urban areas, the new strategy will also help to reduce regional imbalances and empower local communities," said ADB Director General for Central and West Asia Werner Liepach.
"It will promote gender equality by promoting jobs and income opportunities for private sector SMEs and entrepreneurs including women and young people."
Copyright Business Recorder, 2020
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