Pakistan finds fair opportunities to develop economic ties with ASEAN
Pakistan Times Foreign Desk Report

BEIJING (China): Pakistan gets fair opportunities to take part in economic activities, undertaken by the 10-member Association of Southeast Asian Nations (ASEAN).

ASEAN has a sectoral dialogue relation with Pakistan which joined the Treaty of Amity and Cooperation and the ASEAN Regional Forum in July 2004.

A senior official of the Association said that the two sides have wide scope to develop cooperation under regional and bilateral framework, in the areas like science, technology, education, environment and counter-terrorism.

It was agreed at the last ministerial-level meeting that a feasibility study on expanding ASEAN-Pakistan economic relations be undertaken. He hoped the necessary work to this effect will be completed as early as possible.

Relations between ASEAN and its dialogue partners, including China, Japan and South Korea, have kept on broadening and deepening in various spheres, in economic areas in particular.

The Ties

The ties between ASEAN and its dialogue partners have become ever more substantial with an increasing number of specific cooperation projects and initiatives being implemented.

At the 8th consultation between economic ministers from ASEAN+3 held in Laos in late September, reaffirming the role of ASEAN+3 process as the main vehicle for the eventual establishment of an East Asian Community, the delegates agreed that all economic cooperation projects and initiatives should have a common vision toward the community.

The Plus Three countries reiterated their support for the block's role as the major driving force in East Asia cooperation.

ASEAN+3

To foster the cooperation, ASEAN+3 have carried out a large number of short-term as well as medium and long-term measures, including the establishment of the East Asia Business Council, the East Asia Forum, the Network of East Asian Think-tanks, and the upcoming organization of the first East Asia Summit in December in Malaysia.

Some trade-related measures are being implemented via bilateral cooperation between ASEAN members and the Plus Three countries. Bilateral trade arrangements will act as the building blocks of an East Asian free trade area which is to accelerate intra-regional trade and investment through the creation of a market of 1.8 billion consumers, the biggest in the world.

Statistics show that trade volume among ASEAN+3 surged by 25 percent from 206.5 billion US dollars in 2003 to 258.2 billion dollars in 2004.●