In a bid to create regional markets by removing trade barriers, the Regional Conference on Economic Cooperation and Trade is expected to be held in the end of this year. The Planning Commission in collaboration with World Bank and the Department for International Development UK has proposed to hold a Conference on “Regional Conference on Economic Cooperation and Trade” during the last quarter of 2012. The government has also declared 2012 as the Year of Regional Cooperation and Economic Activity. According to the official, the Conference will build on the current momentum for greater regional trade and utilize opportunities to take full advantage of emerging economic cooperation.
The official said the conference will help to address overarching challenges in building greater regional trade by enhancing connectivity between people and economic sector and by opening access to finance as means to expand opportunities for cross-border investment and financial risk mitigation. The Conference is expected to help build the knowledge and analytical base for these efforts. The focus countries for this Conference are regional partners that share a border with or have recently announced the intention to signing a free trade commitment with Pakistan. This includes: Afghanistan, China, India, Iran, and Turkey other developments that could enhance trade with Pakistan’s neighbors include: progress in structuring commercial arrangements to underpin the proposed TAPI gas pipeline between Turkmenistan, Afghanistan, Pakistan, and India.
