On 20th March 2018, CGSS organized an interactive session for the visiting CARs delegation with Mr. Shaukat Tareen, Former Federal Finance Minister of Pakistan, who gave a presentation to all the participants on ‘Pakistan: A land of opportunity for Central Asian Republics’. He began his presentation by expressing his enthusiasm on Pakistan hosting the Central Asian Republics at such a massive scale, after quite long. The presentation began with the Former Minister explaining the Say’s Law, according to which “Supply Creates Its Own Demand”. At the heart of it, the law means if you want something that others produce, you must have something of value to exchange it with – which is the basis of trade. Trade is a major source of nation building and generates wealth that flows through the entire economic system. Thus, all nations must collaboratively understand that trade is central to human development and prosperity since the beginning of times. The impetus to trade has always come from the opening of trade routes through which, secure passages that enable the movement of goods from producers to consumers.
Mr. Shaukat made the audience aware of the changing times by stressing that the Belt and Road Initiative has the propensity to bear results that will be un-parallel in recent history. BRI will serve to develop better relations between Central Asia and Pakistan. And In 2017, the 25th anniversary of the establishment of diplomatic relations between Pakistan and Central Asian Republics will take place, but unfortunately the regional integration has not been sufficiently benefitted from. Total trade in 2016 between Pakistan and Central Asian Republics was only USD 87 million. And less than 1 % of CAR’s imports constitute goods/services from Pakistan. In recent years, Pakistan has undergone a massive transformation with regards to banking sector reforms, public sector reforms, worker remittances and special economic zones along with China-Pakistan Economic Corridor (CPEC).