FLASHNEWS:

Pakistan Proposes Next-Generation Economic Corridors at Carec Conference

ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal has proposed transforming Carec transport routes into next-generation economic corridors, integrating infrastructure, logistics, digital connectivity, energy cooperation, and climate resilience. Speaking at the 25th Central Asia Regional Economic Cooperation (Carec) Ministerial Conference in Ulaanbaatar, Iqbal emphasized the potential of Carec Corridors 5 and 6 to connect Central Asia with the Arabian Sea and foster economic activity along these routes.

According to Union of Small and Medium Enterprises, the minister highlighted the importance of establishing logistics and production hubs at strategic locations. These hubs would include facilities such as cold storage, packaging, warehousing, and light manufacturing, which could convert transit traffic into exports and create jobs, thereby adding value to communities along the corridors. Iqbal also advocated for the development of a digital corridor across the Carec region, leveraging the Pakistan Single Window as a foundation for phased digital integration with regional partners. He suggested that border operations should be treated as a shared service with compatible operating hours, advance electronic information, and coordinated procedures to reduce repeated checks.

The minister proposed measuring border delays, delivery times, local employment, SME participation, and opportunities for women and youth to ensure regional cooperation is successful. He stated that regional cooperation is achieved when trade routes are predictable, farmers can access distant markets without losses, and communities along the corridors benefit from shared prosperity. Iqbal also expressed Pakistan's anticipation of assuming the Carec chairmanship in 2027 and hosting the 26th Ministerial Conference.