Economic triangle to reshape regional trade

The road transport corridor connecting Islamabad, Tehran and Istanbul, in conjunction with China's Belt and Road Initiative (BRI), will prove to be a game changer by promoting regional trade among the four nations.

It was stated by Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) Vice President Zafar Iqbal during a think-tank meeting on Pakistan-Turkey-China tripartite trade on Thursday.

He acknowledged that Turkiye, like China, was an all-weather friend of Pakistan and bilateral relations "are now more integrated into international trade because of the China-Pakistan Economic Corridor (CPEC) and BRI, which have created a new opportunity for Turkiye and Pakistan".

Turkiye's exports to China could be routed through Pakistan, he pointed out, adding that the Islamabad-Tehran-Istanbul road transport corridor was successfully carrying commercial cargo on Pakistani trucks to Turkiye and vice versa up to Chinese markets. Zafar Iqbal underscored that Pakistan and Turkiye had positive trade relations and investments by Turkish companies in Pakistan increased by over $1 billion. They have also signed a strategic economic framework agreement that covers a broad spectrum of cooperation in science and technology, defence, tourism, education and healthcare. He said that PCJCCI would help enhance Chinese investment to create a sustainable economic triangle.