Diplomats of ASEAN countries stressed for enhancement of economic cooperation and bilateral Trade with Pakistan.
ISLAMABAD ( WEB NEWS )
FPCCI in collaboration with Regional Rapport had organized an interactive session on Economic integration between Pakistan & ASEAN region at FPCCI President Secretariat Islamabad Chaired by Mr. Atif Ikram Sheikh President FPCCI ECO-CCI and VP CACCI. The seminar was attended by Federal Minister for National Food Security & Research Rana Tanveer Hussain and Federal Minister for Investment Qaiser Ahmad Sheikh along with Islamabad-based ASEAN countries’ ambassadors, high commissioners and diplomats from Brunei, Indonesia, Malaysia, Myanmar, Philippines, Thailand, and Vietnam attended the event.
During the session the Mr. Atif Ikram Sheikh President FPCCI, Rana Tanveer Hussain & Qaisar Ahmed Sheikh Federal Ministers, Mr. Tariq Khan Jadoon, Mr. Aun Ali Syed, Ms. Qurratulain Vice Presidents FPCCI, Mr. Karim Aziz Malik Chairman Capital Office addressed the gathering while Tufail Mehmood DG BOI delivered a detailed presentation about investment potential of Pakistan for ASEAN countries while another presentation on potential of Blue Economy of Pakistan was delivered by Aon Ali Syed, Vice President FPCCI.
All Ambassadors of ASEAN countries shared their views for enhancement of economic cooperation and bilateral Trade with Pakistan and stressed on actions to step forward and said that it’s the time to be practical.
The session was also attended a large number of gathering prominently Dr. Afshan Malik Advisor To President FPCCI, Mr. Iftekhar Khan Advisor to President FPCCI, Ms. Hina Mansab Khan Chairperson SAARC-SCWEC, and other members of FPCCI. The seminar emphasized “Economic Integration Between Pakistan & ASEAN Region, Leveraging ASEAN’s Economic Power, Boosting Bilateral Trade and Investment, Free Trade Agreements (FTAs) and Preferential Trade Agreements (PTAs), Regional Connectivity, Collaboration in various Sectors, Removing Trade Barriers and Role of Private Sector.
The ASEAN envoys appreciated FPCCI on its keen engagement with the Association of Southeast Asian Nations (ASEAN) countries to foster economic cooperation and explore trade opportunities. The ambassadors deliberated on the scope and opportunities to accelerate ASEAN-Pakistan business, trade and investment.
The Federal Minister Rana Tanveer emphasized on deepening economic engagement between Pakistan and the ASEAN region. He commended the leadership of FPCCI President Mr. Atif Ikram Sheikh for organizing the session at a critical time when regional cooperation and trade diplomacy are vital to shared prosperity.
ASEAN, with over 700 million people and a collective GDP of more than $3.9 trillion, has emerged as a powerful economic bloc on the global stage. Pakistan, he said, shares longstanding cultural, historical, and strategic ties with ASEAN nations and is now seeking stronger commercial and investment linkages, said the minister.
Despite this huge potential, trade volumes between Pakistan and ASEAN countries remain below their true capacity. He urged for collective efforts to reduce trade barriers, enhance market access, and promote bilateral and multilateral investment. The Minister also underscored the need for collaboration in technology transfer, digital entrepreneurship, and skill development, drawing on ASEAN’s strengths in innovation and vocational training.
He particularly highlighted sectors such as textiles, agriculture, pharmaceuticals, IT, and energy, where mutual cooperation could bring meaningful results. The Minister also underscored the need for collaboration in technology transfer, digital entrepreneurship, and skill development, drawing on ASEAN’s strengths in innovation and vocational training.
Minister for Investment, Qaiser Ahmad Sheikh in his remarks said Pakistan highly valued ties with ASEAN countries and offered tremendous opportunities of investment to the ASEAN businessmen, investors and companies.
He vowed to protect the interest of the investors as the government is working to simplify the rules and regulations regarding business and investment in the country. He reiterated the Government of Pakistan’s full commitment to enhancing regional economic integration and promoting effective trade diplomacy.
Atif Ikram Sheikh highlighted trade imbalance between ASEAN and Pakistan. Pakistan’s exports to ASEAN stand at US$2.2 billion while Pakistan’s imports from ASEAN countries figure at US$6 billion. “Due to Pakistan’s strategic significance, ASEAN countries can find a new booming market for investment and trade here in Pakistan, he offered.
Millions of skilled people from Pakistan are serving in ASEAN countries, and investors from ASEAN countries should take advantage of investment opportunities in various sectors in Pakistan, he said.
He said that Pakistan and ASEAN countries have a lot of potential in the areas of seafood, agriculture, leather industry and others.
While giving a briefing by Karim Aziz Malik, former Vice President FPCCI on the occasion, he said that ASEAN’s model of economic integration, its collective voice in global affairs, and its strategic initiatives such as the Regional Comprehensive Economic Partnership (RCEP) have made it a vital pillar in the new global economic order. There is immense room for growth particularly in textiles, agriculture, rice, pink salt, pharmaceuticals, IT, and energy, where mutual cooperation could bring meaningful results, he added.
Aoun Ali Syed, Vice President FPCCI said that Pakistan and ASEAN have huge potential to increase the current trade volume of $11 billion to exceeding its to $30 billion in the coming 10 years. During his presentation he focused on the potential of blue economy of Pakistan and drawn the attention of the ambassadors towards to get access in central Asian market through Gwadar port. Pakistan through CPEC provides ASEAN countries easy access to Middle East and Central Asia, he further said. Among the promising sectors for bilateral trade include Science & Technology, Agriculture and Information Technology, he said
Malaysia High Commissioner Dato Azhar Mazlan, as current Chair of the ASEAN Committee, expressed gratitude on behalf of the ASEAN missions’ heads and deputy heads and commended the FPCCI for organizing a seminar on a very pertinent subject.
ASEAN is going to become the fourth largest economy of the world by 2030 and Pakistan should enhance trade with ASEAN instead of Middle East or other parts of the world. In Malaysia for instance, there are many Pakistanis who are doing successful business for many years and the ASEAN countries are full of promise for the investors and foreign businessmen.
He also mentioned Prime Minister Shehbaz Sharif’s upcoming visit to Malaysia later this year hoping it would also give further boost to the economic cooperation between ASEAN and Pakistan in general and Malaysia and Pakistan in particular.
Mr. Tariq Jadoon, Vice President expressed thanks to the diplomats and distinguished guests and said that by pursuing regional cooperation, enhancing existing relations and strengthening economic ties with ASEAN countries. He also expressed his hope that this session will help in developing linkages between FPCCI and ASEAN countries toward prosperous shared future.