Govts of SAARC nations urged to focus on economic cooperation

KARACHI: Spokesperson of the Businessmen Panel (BMP) South and former Chairman of the Rice Exporters Association of Pakistan (REAP), Rafiq Suleman has urged the governments of SAARC countries to set aside minor political differences and focus on economic cooperation by reducing trade barriers, improving connectivity, and harmonizing regulations.

He also emphasized greater collaboration in sectors such as tourism, healthcare, pharmaceuticals, education, and agriculture, which hold strong potential for cross-border partnerships.

Congratulating the leadership of the SAARC Chamber of Commerce and Industry (SCCI), particularly its Vice President Anjum Nisar, on the completion and inauguration of the Chamber’s headquarters in Islamabad, he stated that the establishment of the SAARC Chamber’s central secretariat in Pakistan marks an important and positive development towards promoting regional trade.

The newly established headquarters will facilitate trade, policy dialogue, and research-based initiatives.

Rafiq Suleman emphasized the need for stronger regional trade integration among South Asian countries, noting that intra-regional trade within SAARC remains limited to only 5 percent despite vast potential.

He expressed hope that Pakistan’s ongoing positive efforts to help ease tensions between Iran and the United States—efforts that are being recognized globally—have enhanced Pakistan’s importance in South Asia. In such circumstances, the new infrastructure of the SAARC Chamber will support efforts to boost economic cooperation and provide a platform for a joint strategy to promote regional trade.

He highlighted that South Asia, which accounts for nearly 20 percent of the world’s population, offers a vast consumer base and production capacity, yet remains one of the least economically integrated regions.

He stressed that effectively promoting trade among SAARC countries could significantly improve economic indicators of member states and reduce dependence on non-regional markets.

Comparing with other regional blocs, the BMP spokesperson noted that intra-regional trade stands at around 36 percent in ASEAN and over 60 percent in the European Union, whereas it remains limited to about 5 percent within SAARC. This disparity, he said, reflects structural and policy gaps that need to be addressed through coordinated efforts.

Copyright Business Recorder, 2026