Pakistan Taking Steps to Become Regional Trade Hub

Islamabad: Pakistan is taking active steps to become a regional trade hub by strengthening trade connectivity between Central Asian states and the ports of Gwadar and Karachi. According to Radio Pakistan, Uzbekistan has started using new trade corridors to reach Pakistan that bypass Afghanistan. Tashkent is now transporting agricultural machinery and industrial raw materials through the Gabdari-Mandan border crossing on the Pakistan-Iran border. The report said that Pakistan introduced the alternative routes after the closure of the Torkham and Chaman border crossings in October last year due to security concerns. It said over 14,000 metric tons of cargo have already been transported through the new corridor, reflecting growing demand for the logistics network. Economists say the new transport network will promote the TIR system and the Single Window customs platform, while further strengthening the role of Gwadar Port under Phase II of CPEC. Experts also say Pakistan has the potential to earn up to three billion dollars annually in transit and logistics revenue from Central Asian states.