Pakistan, ASEAN trade 11 billion dollars, Gwadar will become the gateway

The multinational corporation will invest 20 million dollars in the next 3 years. Photo: File

Islamabad: Trade between Pakistan and ASEAN countries reached 11 billion dollars.

Inauguration of joint feasibility study for free trade agreement between ASEAN and Pakistan, East Asia has become Pakistan’s main trading partner, ASEAN will become the fourth largest economy in the world by 2050, the combined GDP of the member countries is 3 trillion dollars, Gwadar. It will become a gateway to ASEAN.

According to the Wealth Pak report, CPEC has provided Pakistan with an excellent opportunity to attract investment from various countries including ASEAN members.

According to Chairman of ASEAN Committee Islamabad Nguyen Tien Phong, trade between Pakistan and ASEAN countries reached 11 billion dollars during the last financial year.

ASEAN has become a dynamic 10-member organization whose members include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam, with a combined GDP of over $3 trillion. ASEAN is now the fifth largest economy in the world and will become the fourth largest economy by 2050.

Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal has said at various forums that Pakistan should follow Malaysia’s model to transform its economy and increase per capita income and GDP.

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