Finance Minister Aurangzeb recently expressed concern over the limited trade relations between Pakistan and its neighboring countries, pointing out the missed opportunities that could bolster the economy through regional cooperation. Addressing economic stakeholders, he emphasized the strategic importance of strengthening trade ties with neighboring nations, noting that current trade volumes remain significantly below potential levels.
Minister Aurangzeb highlighted how closer economic collaboration with neighbors could serve as a powerful catalyst for Pakistan’s economic growth, opening avenues for job creation, investment inflows, and technological exchanges. He acknowledged that while political and historical tensions have sometimes hindered economic relations, there remains substantial room for cooperation, especially in sectors like agriculture, energy, textiles, and information technology. Improved trade could also facilitate regional stability, as economic interdependence has the potential to create mutual incentives for peace and development.
To unlock these benefits, the Finance Minister called for proactive steps to overcome the barriers restricting cross-border commerce. This includes streamlining trade regulations, reducing tariffs, and enhancing border infrastructure. Aurangzeb noted that creating more accessible routes for trade with Afghanistan, Iran, China, and India would also lower costs for Pakistani businesses and consumers, making local industries more competitive.
He further highlighted the example of regional economic blocs such as ASEAN and the European Union, where member countries have flourished by leveraging their geographic proximity to enhance trade. By strengthening economic ties within South Asia, Pakistan could similarly benefit from shared resources, technology transfer, and a larger market base for exports.
Aurangzeb concluded by urging policymakers and business leaders to actively seek diplomatic and economic solutions that could promote cross-border trade. He expressed optimism that, with mutual effort, regional trade could be transformed from a missed opportunity into a key driver of Pakistan’s economic future, helping to build a more integrated and prosperous South Asia.
