President Alvi proposes establishing trade triangle between Pakistan, China & ASEAN

President encourages investment in special economic zones

ISLAMABAD:

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

While addressing the 17th China-ASEAN Expo held in China's Nanning city on Friday via a virtual link, 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.

He added that Pakistan's economy has strengthened and its online businesses have grown due to implementation of far-reaching economic reforms, despite the ongoing Covid-19 pandemic.

President Alvi also encouraged the ASEAN countries and Chinese businesses to invest in special economic zones (SEZs) and said that there is high potential in Pakistan’s textiles, food products including meat and vegetables, surgical goods, minerals and information technology.

In August, Foreign Minister Shah Mahmood Qureshi said Pakistan would continue to deepen and further strengthen political, economic and cultural ties with ASEAN and its member states in line with its 'Vision East Asia' policy.

In his message on the 53rd ASEAN Day, the foreign minister had said, “Pakistan enjoys close, friendly ties with all ASEAN members and its historic and deep-rooted relations pre-date the modem era, harkening back to abiding linkages forged during the time of the Gandhara Civilization.”

Qureshi had also commended the Asean states for handling the Covid-19 pandemic and called for enhanced cooperation and collaboration among the member states for betterment of humanity.