Though business and trade moots in Pakistan, which are arranged by the government agencies to spell out economic prospects of the country, often turn into social gatherings and without achieving any goals in real terms. However,experts do hope positive effects of the business moots in the long run. The China-Pakistan Economic Corridor is the best example for the South Asian countries to enhance regional connectivity and boot SAARC trade. But for the purpose, the leaders will have to work overtime to revive the South Asia Free Trade Agreement and evolve standard operating procedures to increase volume of trade within the states in the region which is currently at five percent.The experts at the 8th South Asia Economic Summit, organised by Sustainable Development Policy Institute, hoped that a thaw in relations between Pakistan and India is necessary to enhance regional trade. The future of South Asia lies in the regional trade and development of infrastructure is the basic requirement to achieve this end.
The China Pakistan Economic Corridor is $46 billion project with focus not only on infrastructure, but also on power and energy projects. If the countries in the region want to enhance trade, they will have to offload the burden of the bitter past and take a fresh start. At least one third of the world population lives in this region with only 3 percent of the global trade.Half of the population in South Asia lives below the poverty line. Pakistan on its part is enhancing connectivity not only with China, but also with Afghanistan and beyond. The CASA 1000 project with Central Asian States and the economic corridor project with China will change the lot of this nation. But again, the countries in this region are the hostage of the bitter past as the leaders are refusing to learn from the European countries. According to experts, the international trade has fallen from 10 percent to below 2 percent due to global economic crisis and losses can be covered by enhancing regional trade.
Despite all odds, the civil society in South Asian region is very strong it needs to persuade their respective governments to soften their stances. On its part, the civil society in Pakistan is very strong and is effectively doing its job. On the government side, Pakistan has signed mega projects like Turkmenistan-Afghanistan-Pakistan-India (TAPI) and Central Asia and South Asia (CASA), which will pave the way for regional trade and investment. This is not the era of conflicts but cooperation.
