By NNN-APP,
Beijing : Underscoring the importance of the Karakuram Highway (KKH) that provides an important alternate trade route to China and Central Asian countries, a senior official at Pakistan Embassy here stressed the need to be further supported and sponsored by the concerned countries in view of its huge multi-purpose scope and potential in the context of present scenario of globalization and promotion of regional trade.
This was stated by Economic Minister at Pakistan Embassy, Sardar Aminullah Khan in an interview on Monday.
He pointed out that most of the countries of the world are promoting regional trade, China, Pakistan and Central Asia are no exception.
The international energy crisis may lead them to consider developing the Energy corridors also and their leaders have already broached the idea, the Minister told.
Geo-strategic location of China, Central Asia and Pakistan and their desire to develop their otherwise economically under-developed adjoining regions will further enhance the scope of mutually supportive actions through trade with the trade routes, thus it will ultimately bring positive impact on their respective economies through trade and development, he noted.
A significance step has already been taken by signing of Quadrilateral Transit Agreement between Pakistan, China, Kazakhstan and Kyrgyzstan, he noted.
The role of logistics in this connection is very important in making the present route worthy of handling the trade to its significance potential, he explained.
Referring to the policy of the Chinese government to economically develop the western provinces, the Minister pointed out that these provinces and adjoining Central Asian countries and some Russian provinces are landlocked and can greatly utilize the KKH to reach the hot waters for their trade promotion.
Pakistan, he said in its part has taken the initiative and the contract for expansion of KKH has already been awarded to a Chinese company, which has started the construction work.
On the other hand, Sardar Amin said that the Gwadar port facility provides tremendous scope for these regional countries to import and export instantly their goods to and from Middle East, Africa and beyond.
The scope of development of trade through this route is un-limited and the desire of all concerned is there.
The Economic Minister stated that in view of available policy, support of the major partners, the success factor of developing KKH as a secure and reliable trade route is very high.