ISLAMABAD: Federal Minister for Investment Qaiser Ahmed Sheikh has underscored Pakistan’s commitment to economic reform, digital transformation, and regional trade integration during the second day of the fifth CAREC Institute Research Conference.

The conference co-organised by institutions including the Islamic Development Bank, Pakistan Single Window, Allama Iqbal Open University, and the International Road Transport Union hosted and the University of Sargodha.

Addressing a panel discussion, Qaiser Sheikh highlighted Pakistan’s progress in creating a business-friendly environment and reaffirmed the country’s ambition to become a regional trade and investment hub.

He acknowledged the support of the CAREC Institute in advancing economic cooperation and praised the platform for facilitating vital dialogue among stakeholders.

A statement issued here said that Qaiser Sheikh pointed to significant macroeconomic improvements, including a sharp decline in inflation — from 38 percent to near zero — and a reduction in the policy rate from 22 percent to 11 percent, describing them as indicators of a stable investment climate.

He emphasised the ongoing digitisation of government procedures through platforms like the Pakistan Business Portal to improve transparency and reduce bureaucratic hurdles for investors.

Highlighting flagship initiatives such as the China-Pakistan Economic Corridor (CPEC), the minister said Pakistan was investing in infrastructure to strengthen regional connectivity and cross-border trade.

He also noted active collaboration with institutions like the Asian Development Bank in supporting trade logistics and regulatory reforms.

Kazakhstan’s Ambassador to Pakistan, Yerzhan Kistafin, echoed similar sentiments, stressing the strategic importance of regional connectivity.

He outlined the growing trade relationship between Kazakhstan and Pakistan, with bilateral trade surging from $50 million to $239 million, and projected to reach $14 billion.

The envoy emphasised plans for a consortium on transport and logistics, along with a regional Business Council to facilitate government-to-government and business-to-business cooperation.

In another panel, speakers discussed Pakistan’s potential to become a transit hub linking Central Asia, the Gulf, and beyond. While praising Pakistan’s geographic advantage, they called for cohesive legal frameworks and a dedicated Ministry of Logistics to optimise transit operations.

Emphasis was also placed on the need for integrated inter-modal transport networks and full utilisation of the TIR (Transports Internationaux Routiers) system, which Pakistan joined in 2017.

The event served as a vital forum to advance regional cooperation and promote practical solutions for trade facilitation across Central and South Asia.

Published in Dawn, May 31st, 2025