CPEC to complement regional connectivity: Dar

ISLAMABAD: Pakistan is implementing the China Pakistan Economic Corridor (CPEC), which will complement the regional connectivity initiatives of the Central Asia Regional Economic Cooperation (CAREC) countries, minister for finance Ishaq Dar said on Wednesday.

“The CPEC offers a massive opportunity for connectivity between Central Asia, Middle East and Africa and is bound to play a defining role in the economic development of our region,” Dar said in his welcome address at the 15th CAREC ministerial meeting on the theme of linking connectivity with economic transformation in CAREC.

The meeting was organised by the ministry of finance and economic affairs division. Minister Dar said improving transport corridor is not an end in itself, but it is an investment in establishing sound infrastructure and complementary frameworks for opportunities in shared prosperity for the present and future generations of the region.

“CAREC and transport and trade facilitation strategy provided the platform to ensure effective implementation of communications, transport and trade related projects,” he said. “This will enable more efficient and comprehensive approach to achieving the goals of establishing competitive corridors, facilitating movement of goods and people through these corridors and providing sustainable safe and user-friendly transport and trade networks.”

Dar said once the six CAREC corridors and major seaports start providing access to the global markets they will deliver services that will be important for national and regional competitiveness, productivity, employment mobility and environmental sustainability.

“Areas of collaboration and specific initiatives under the CAREC programme will significantly improve connectivity in the region,” he said.

“The projects being implemented in the four core areas of communications, trade facilitation, trade policy and energy coupled with the economic corridor development will enable increased trade, enhanced availability of energy and improvement in quality of lives for all people in the region.”