ISLAMABAD-APP:The meeting of Shanghai Cooperation Organization (SCO) summit in Islamabad provides a unique opportunity to its members states to take advantage of Pakistan’s vital geographical link in Eurasian connectivity for bolstering regional trade and investment for mutual benefits.
The gathering of top leadership of SCO members states has not only allowed Pakistan to strengthen its bilateral and economic ties with the regional powers, but also positions the country as an essential player in the broader Eurasian connectivity initiative. The country’s Karachi and Gwadar ports, airports and motorways offer great opportunities for SCO states especially Central Asian Republics.
As the summit unfolds in Islamabad, the focus is mainly on fostering regional peace, security, and prosperity through enhanced diplomatic and economic collaboration.
Providing a pivotal moment for Pakistan to elevate its economic and geopolitical aspirations on an international stage besides highlighting its principled stand on regional issues, the experts say SCO summit would open gates of investment for Pakistan.
Established in 2001, the SCO now comprises nine member states, including founding members like China and Russia, alongside members such as Pakistan, India, and Iran, which joined in 2017.
Professor Dr. Adnan Sarwar Khan, former chairman of the International Relations Department at the University of Peshawar, highlighted the summit’s potential to economic prosperity and foreign investment besides diplomatic importance.
He said Pakistan carried a unique strategic geographical location in South Asia vital for trade, business and investment point of view, adding this summit provides an unparalleled opportunity for the nation to position itself at the heart of regional connectivity.
Professor Dr. A.H. Hilali, former chairman of the Political Science Department at the University of Peshawar, underscored the SCO’s role as a significant diplomatic platform that could reshape not just regional dynamics but economic cooperation by supporting devoloping countries and global relations as well.
“Discussions on trade, regional connectivity, environmental concerns, and security challenges at SCO are vital for the stability of the region,” he remarked.
Dr. Naermur Khattak, former chairman of the Economics Department at the University of Peshawar, highlighted the economic ramifications of hosting the SCO summit.
“This event apparently marks a significant shift in Pakistan’s approach from a geo-strategic focus to a geo-economic one,” he explained, emphasizing the importance of enhancing connectivity with Central Asia.
With bilateral trade between Pakistan and China nearing $20 billion, the integration of Central Asian resources through enhanced connectivity could yield substantial benefits for all parties involved.
Khyber Pass Economic Corridor (KPEC) project connecting Peshawar with Afghanistan had been approved that after completion would help accelerate pace of economic development and bolstering industrialization benefiting the entire region.
KPEC’s 47.5 kilometer four lane expressway would connect Pakistan with Afghanistan and onward Central Asian Republics (CARs), he said and added that about USD 385.6 million would by provided by Federal Govt while KP government’s share is about USD 75 million.
He said SCO also serves as a platform for the SCO’s top leadership to engage in constructive dialogues addressing pressing regional issues.
The experts predicted that the recent inauguration of the Gwadar airport by Pakistani and Chinese Prime Ministers heralds a new era of prosperity for Balochistan, further solidifying Pakistan’s role as a pivotal player in the region.
As discussions progress, the eyes of the world remain on Islamabad, where Pakistan is poised to make significant strides in asserting its influence and fostering collaborative efforts within the SCO framework.
The experts said the summit is expected to culminate with key declaration that will fortify economic partnerships among the member states for mutual prosperity of their people.
