Regional transformations and opportunities

Pakistan’s relevance in the South Asian region has often been from the prism of Afghanistan and terrorism. In the last few years, the US involvement in the region revolved around Afghanistan and the situation there remains a challenge. In the evolving political milieu, the transformational changes in South Asia, amidst CPEC carry significance for regional as well as global players. The new regional developments can strengthen Pakistan’s importance in regional connectivity along South, Central and East Asia. However, to be a corridor for oil/trading routes, Pakistan’s shipping industry needs to be developed. Likewise, foreign and local investment is necessary for developing special economic zones (SEZs) as part of the regional connectivity endeavour.

To attract investment from foreign and local investors in SEZs, there must be coherence amongst all the provinces. Federal and provincial governments should frequently communicate with one another. From a security angle, the anarchy in Afghanistan will create disturbance across the region. To avoid such a situation, international support is a must. Prime Minister Imran Khan has rightly called upon the world to strengthen peace efforts in Afghanistan. Unanimous peace efforts will weaken the inimical forces that are threatening the region’s peace and connectivity.

At the country level, Pakistan’s national narrative of geo-economics is a progressive move. To materialise the concept internally and to expand it towards the outside world requires concerted efforts at home. To begin with, the education sector must be improved — research at educational institutes needs to be industry-driven. There should be a link between students and industry. Boot camps should be established to equip researchers/scholars with adequate knowledge and skills so that the workforce is at pace with the new technologies. Also, students should be encouraged to work during their studies even as part-timers or interns. Acquiring one degree after another is an academic success, but candidates must have the field experience to be prospective employees.

To embark upon the narrative of geo-economics, Pakistan should opt for economic partnerships with regional countries i.e. Afghanistan, Iran, India, Bangladesh and Sri Lanka. Within the framework of CPEC, Chinese companies have invested in Pakistan and created nearly 100,000 jobs for Pakistani workers. Chinese companies, including Zhejiang Huayou Cobalt Company, China Communication Construction Company, Zhejiang Seaport and Huazhang Technology have also planned investments in ‘Low Carbon Recycling Park,’ within the Gwadar free zone. Other East Asian economies should be approached for investment in the SEZs. CPEC can act as a channel between the ASEAN (Association of Southeast Asian Nations) market and South Asia. Also, Pakistan needs to improve its ties with the US. This can be done through economic and trade incentives as well as technological exchanges. Private companies with business in the US can also play an important role.

CPEC and the region’s tilt towards connectivity is an opportunity for Pakistan to broaden its economic horizons. To establish economic partnerships with other countries and gain from their technological expertise, Pakistan will have to brand itself as a geo-economic player, and an attractive destination for investments. Hopefully, with an improved education system, the narrative of geo-economics will emerge strong both at internal and external fronts. In 1964, PIA’s landing in Shanghai made Pakistan the first non-communist country to provide an air corridor to China. With CPEC, China will have easy access to the Indian Ocean. Karakoram Highway connected Pakistan and China and is the forerunner of present-day CPEC. Let’s make CPEC a corridor for regional connectivity and a bridge between East and West.

Published in The Express Tribune, February 23^rd, 2022.

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