Post-war Afghanistan: 'Pakistan helping promote Kabul’s foreign trade'

Finance minister attends a flurry of meetings in Washington.

WASHINGTON:

Pakistan stands by Afghanistan as it transitions after a decade-long war and prepares a platform for realising its economic potential, Finance Minister Dr Abdul Hafeez Shaikh said on Thursday.

Pakistan is crucially contributing to expansion in Afghan trade with the international community, Shaikh said while speaking at an event titled “Transition and Resource Corridor in Afghanistan” co-chaired by the World Bank and Afghanistan during the IMF-WB meetings.

A landmark development has been the realisation of the new transit trade agreement that allows landlocked Afghanistan to truck its products across Pakistan to the Wagah border with India and to other countries through Gwadar and Karachi ports, he said.

The finance minister said he has worked hard with his Afghan counterpart Dr Omar Zakhilwal to promote trade, investment and business activity.

“Our trade has crossed $1 billion and despite budgetary constraints, Islamabad has committed $330 million for development of health, infrastructure and education sectors in Afghanistan,” Shaikh said.

“All this will help make Afghanistan a central location for trade and economic activity between South and Central Asia,” he added.

“Two decades ago, a conflict in Afghanistan was won but peace was lost and the world has paid a heavy price for it,” Shaikh said, adding that “let’s ensure that this time, peace is won.”

Shaikh’s day out

Shaikh also met with leaders of major financial institutions here on Thursday, during the IMF-World Bank meetings and discussed cooperation for Pakistan’s development.

He had a detailed meeting with David Lipton, the first deputy managing director of the International Monetary Fund, and discussed with him ‘various aspects’ of cooperation, officials said.

He also discussed cooperation with the World Bank team for Pakistan in health, education, infrastructure and economy.

Earlier, the finance minister attended a meeting of Commonwealth finance ministers and spoke about collaboration within the body.

Shaikh also met with the prime minister of the Bahamas, Hubert Ingraham, who is chairing the annual IMF-World Bank meetings this year.



Published in The Express Tribune, September 24^th, 2011.