Latest news with #ASEAN-Pakistan
Business Recorder
21-06-2025
- Business
- Business Recorder
Pakistan faces challenges in Free Trade Agreement talks with ASEAN
ISLAMABAD: Pakistan is reportedly facing challenges in negotiation of Free Trade Agreement (FTA) with ASEAN (Association of Southeast Asian Nations) due to her status of a Sectoral rather than Full Dialogue Partner, compounded by Singapore's opposition to Pakistan's elevation to full partnership status, sources in Commerce Ministry told Business Recorder. Pakistan was granted Sectoral Dialogue Partner (SDP) status by ASEAN in 1993, marking the beginning of formal cooperation. The first official meeting establishing ASEAN-Pakistan Sectoral Dialogue Relations was held in Islamabad in 1997, initially focusing on key areas including trade, industry, investment, science and technology, tourism, and human resource development. The relationship was further institutionalised in 1999 with the creation of the ASEAN-Pakistan Joint Sectoral Cooperation Committee (APJSCC), which has since convened seven times, most recently in Jakarta in September 2023. During the 4th APJSCC meeting in 2010, Pakistan formally proposed negotiations for a Free Trade Agreement (FTA) with ASEAN. Pakistan plans to revisit FTAs, mulls bankruptcy law Currently ASEAN has signed Free Trade Agreements with six countries (China, Australia, New Zealand, Japan, South Korea and India), all of which are its Full Dialogue Partner countries. On February 6, 2025, ASEAN and Pakistan reaffirmed commitment to further deepen their partnership at the 8th Meeting of the ASEAN-Pakistan Joint Sectoral Cooperation Committee held at the ASEAN Headquarters Secretariat in Jakarta The meeting noted the progress made in the first year of implementation of the ASEAN-Pakistan Sectoral Dialogue Partnership: Practical Cooperation Areas (PCA) (2024-2028). Both sides recognised notable cooperation in some areas such as trade and investment; business-to-business linkages; science, technology, and innovation; information and media; and human resource development. ASEAN and Pakistan shared the view that there remain tremendous opportunities for closer collaboration and recognised the need to work closely to tap the full potentials of the partnership for mutual benefit. ASEAN encouraged Pakistan to support the forthcoming ASEAN Community Vision 2045 and its Strategic Plans while actively undertaking practical cooperation with ASEAN across the four identified key areas of cooperation of the ASEAN Outlook on the Indo-Pacific (AOIP). ASEAN also encouraged Pakistan to support the implementation of the Master Plan on ASEAN Connectivity 2025 (MPAC) and the Initiative for ASEAN Integration (IAI) Work Plan IV, and welcomed collaboration with ASEAN centres of excellence. Looking ahead, they explored opportunities to continue strengthening collaboration in the areas of mutual interest as guided by the PCA 2024-2028, including combating transnational crime, peace and reconciliation, trade and investment, digital economy and cybersecurity, business-to-business networking and linkages, food security, halal industry, energy security, tourism, renewable energy, circular and green economy, infrastructure development, disaster management, climate change, education; human resource development, media, health, climate-change, disaster management, as well as, people-to-people exchanges. To overcome this challenge and to deepen its ingress in ASEAN, Pakistan has adopted a strategic shift toward strengthening bilateral relations with individual member states within ASEAN region. This approach aims to build stronger economic and political ties that could eventually facilitate Pakistan's transition to Full Dialogue Partner status and revive prospects for a comprehensive ASEAN-Pakistan FTA. Pakistan and Malaysia signed the Malaysia-Pakistan Comprehensive Economic Partnership Agreement (MPCEPA) in 2007, establishing a free trade agreement between the two nations. This agreement is Pakistan's first-ever comprehensive partnership agreement, covering goods, services and investment. Currently, both countries are engaged in review and revision of this existing FTA to further enhance bilateral trade and economic cooperation. Pakistan and Indonesia signed a Preferential Trade Agreement (PTA) in 2012 to boost bilateral trade. The two nations have agreed to look into further expansion of the PTA in light of the Framework Agreement signed by the two in 2005. Pakistan and Thailand initiated negotiations on signing of an FTA in 2015. Both sides held nine rounds of negotiations after which the negotiations have come to a pause. Recently, Pakistan has proposed to negotiate a Preferential Trade Agreement (PTA) instead. Pakistan has recently established a trade mission in Singapore to strengthen bilateral economic ties and explore new trade and investment opportunities. Pakistan has also shared a draft MOU for establishing JTC with the Singapore. Singapore side is of the opinion that both countries first need to increase B2B exchanges and interaction. Opening of Pakistan's Trade Mission will facilitate these exchanges. Pakistan opened its trade mission in Manila last year, to enhance bilateral trade relations and foster economic cooperation with the Philippines. As a result, for the first time, delegates from Philippines have participated in flagship events of TDAP. Pakistan and Vietnam have initiated negotiations to explore the possibility of signing a Preferential Trade Agreement (PTA) during their upcoming 5th Joint Trade Committee (JTC) meeting on July 10-11, 2025, as part of efforts to strengthen bilateral trade relations. Pakistan and Cambodia have established their first institutional mechanism, a Joint Trade Committee (JTC), with the inaugural meeting taking place in January 2025 during the Commerce Minister's visit to Phnom Penh. Copyright Business Recorder, 2025
Business Recorder
21-06-2025
- Business
- Business Recorder
Country faces challenges in FTA talks with ASEAN
ISLAMABAD: Pakistan is reportedly facing challenges in negotiation of Free Trade Agreement (FTA) with ASEAN (Association of Southeast Asian Nations) due to her status of a Sectoral rather than Full Dialogue Partner, compounded by Singapore's opposition to Pakistan's elevation to full partnership status, sources in Commerce Ministry told Business Recorder. Pakistan was granted Sectoral Dialogue Partner (SDP) status by ASEAN in 1993, marking the beginning of formal cooperation. The first official meeting establishing ASEAN-Pakistan Sectoral Dialogue Relations was held in Islamabad in 1997, initially focusing on key areas including trade, industry, investment, science and technology, tourism, and human resource development. The relationship was further institutionalised in 1999 with the creation of the ASEAN-Pakistan Joint Sectoral Cooperation Committee (APJSCC), which has since convened seven times, most recently in Jakarta in September 2023. During the 4th APJSCC meeting in 2010, Pakistan formally proposed negotiations for a Free Trade Agreement (FTA) with ASEAN. Pakistan plans to revisit FTAs, mulls bankruptcy law Currently ASEAN has signed Free Trade Agreements with six countries (China, Australia, New Zealand, Japan, South Korea and India), all of which are its Full Dialogue Partner countries. On February 6, 2025, ASEAN and Pakistan reaffirmed commitment to further deepen their partnership at the 8th Meeting of the ASEAN-Pakistan Joint Sectoral Cooperation Committee held at the ASEAN Headquarters Secretariat in Jakarta The meeting noted the progress made in the first year of implementation of the ASEAN-Pakistan Sectoral Dialogue Partnership: Practical Cooperation Areas (PCA) (2024-2028). Both sides recognised notable cooperation in some areas such as trade and investment; business-to-business linkages; science, technology, and innovation; information and media; and human resource development. ASEAN and Pakistan shared the view that there remain tremendous opportunities for closer collaboration and recognised the need to work closely to tap the full potentials of the partnership for mutual benefit. ASEAN encouraged Pakistan to support the forthcoming ASEAN Community Vision 2045 and its Strategic Plans while actively undertaking practical cooperation with ASEAN across the four identified key areas of cooperation of the ASEAN Outlook on the Indo-Pacific (AOIP). ASEAN also encouraged Pakistan to support the implementation of the Master Plan on ASEAN Connectivity 2025 (MPAC) and the Initiative for ASEAN Integration (IAI) Work Plan IV, and welcomed collaboration with ASEAN centres of excellence. Looking ahead, they explored opportunities to continue strengthening collaboration in the areas of mutual interest as guided by the PCA 2024-2028, including combating transnational crime, peace and reconciliation, trade and investment, digital economy and cybersecurity, business-to-business networking and linkages, food security, halal industry, energy security, tourism, renewable energy, circular and green economy, infrastructure development, disaster management, climate change, education; human resource development, media, health, climate-change, disaster management, as well as, people-to-people exchanges. To overcome this challenge and to deepen its ingress in ASEAN, Pakistan has adopted a strategic shift toward strengthening bilateral relations with individual member states within ASEAN region. This approach aims to build stronger economic and political ties that could eventually facilitate Pakistan's transition to Full Dialogue Partner status and revive prospects for a comprehensive ASEAN-Pakistan FTA. Pakistan and Malaysia signed the Malaysia-Pakistan Comprehensive Economic Partnership Agreement (MPCEPA) in 2007, establishing a free trade agreement between the two nations. This agreement is Pakistan's first-ever comprehensive partnership agreement, covering goods, services and investment. Currently, both countries are engaged in review and revision of this existing FTA to further enhance bilateral trade and economic cooperation. Pakistan and Indonesia signed a Preferential Trade Agreement (PTA) in 2012 to boost bilateral trade. The two nations have agreed to look into further expansion of the PTA in light of the Framework Agreement signed by the two in 2005. Pakistan and Thailand initiated negotiations on signing of an FTA in 2015. Both sides held nine rounds of negotiations after which the negotiations have come to a pause. Recently, Pakistan has proposed to negotiate a Preferential Trade Agreement (PTA) instead. Pakistan has recently established a trade mission in Singapore to strengthen bilateral economic ties and explore new trade and investment opportunities. Pakistan has also shared a draft MOU for establishing JTC with the Singapore. Singapore side is of the opinion that both countries first need to increase B2B exchanges and interaction. Opening of Pakistan's Trade Mission will facilitate these exchanges. Pakistan opened its trade mission in Manila last year, to enhance bilateral trade relations and foster economic cooperation with the Philippines. As a result, for the first time, delegates from Philippines have participated in flagship events of TDAP. Pakistan and Vietnam have initiated negotiations to explore the possibility of signing a Preferential Trade Agreement (PTA) during their upcoming 5th Joint Trade Committee (JTC) meeting on July 10-11, 2025, as part of efforts to strengthen bilateral trade relations. Pakistan and Cambodia have established their first institutional mechanism, a Joint Trade Committee (JTC), with the inaugural meeting taking place in January 2025 during the Commerce Minister's visit to Phnom Penh. Copyright Business Recorder, 2025
Business Recorder
23-04-2025
- Business
- Business Recorder
Inclusive prosperity promotion: Minister calls for Pakistan-ASEAN technology alliance
ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal has called for a technology alliance between Pakistan and ASEAN to promote inclusive prosperity. The minister expressed these views while addressing the ASEAN-Pakistan Technology Expo 2025 as the chief guest at the National University of Sciences and Technology (NUST) in Islamabad on Monday. The minister said that our vision is to make Pakistan a knowledge economy that empowers the youth, strengthens its industries and plays a meaningful role in regional cooperation. The two-day event brought together distinguished delegates from ASEAN member states, academia, industry leaders, and students to foster collaboration in science, technology, and innovation. The minister underscored the significance of the Expo as a symbol of shared commitment between Pakistan and ASEAN nations to harness the transformative power of technology. He emphasised the dual nature of technological change, which offers immense promise but also presents serious challenges. From artificial intelligence to clean energy, Iqbal noted that disruptive innovations are reshaping global economies and societies, and highlighted the risks posed by the growing technology gap, digital divide, and skills mismatch in developing regions. Iqbal outlined the common challenges faced by Pakistan and ASEAN countries, including climate change, youth unemployment, and uneven digital infrastructure, while also pointing to shared strengths such as a young and tech-savvy population, robust universities, and a growing appetite for innovation. He stated that this synergy forms the foundation for deeper cooperation in science and technology. Reaffirming Pakistan's strong commitment to its partnership with ASEAN, Iqbal proposed a forward-looking vision for ASEAN-Pakistan technology collaboration. He outlined three strategic pillars to drive this agenda: fostering knowledge and talent exchange through academic partnerships and innovation fellowships; building joint research and development platforms in emerging fields; and ensuring that technology contributes to sustainable and inclusive development, particularly in areas such as climate resilience, health, and education. The minister also highlighted recent milestones in Pakistan's journey toward a knowledge-based economy. These include the launch of the National AI Policy, the creation of Special Technology Zones to attract global investment, the digitisation of governance through the E-Pakistan initiative, and the strengthening of institutions such as NUST and Ignite to support startups and applied research. He emphasised that the future must be built through cooperation, innovation, and shared vision. Commending NUST for its leadership in technology education and research, he called upon the youth to develop technologies that serve not just markets, but the greater public good. The minister expressed hope that the ASEAN-Pakistan Technology Expo would mark the beginning of a new era of collaboration, shaping a smarter, greener, and more inclusive future for the region. In his concluding remarks, Iqbal issued a compelling call to action, urging all stakeholders to reimagine ASEAN-Pakistan relations not merely through the traditional lenses of trade and diplomacy, but as a dynamic technology alliance for inclusive and sustainable prosperity. He also proposed the following action steps for consideration at EXPO 2025: Establish an ASEAN-Pakistan Technology Cooperation Forum that convenes annually to identify joint initiatives, exchange innovative ideas, and evaluate collaborative progress. Launch an ASEAN-Pakistan Startup Bridge aimed at connecting incubators, venture capitalists, and entrepreneurs across the region to foster a vibrant cross-border innovation ecosystem. Promote the development of regional standards and interoperability in digital technologies to enable efficient, seamless collaboration and integration among member states. Encourage the co-hosting of technology expos, hackathons, and innovation challenges that actively crowdsource solutions to shared developmental challenges and stimulate youth-led innovation. Institutionalise a structured digital dialogue bringing together policymakers, academia, industry leaders, and young innovators to ensure that technology policies remain inclusive, future-oriented, and people-centered. In his welcome remarks, Umar Khan, Project Director of the National Centre of Robotics and Automation (NCRA) at NUST, acknowledged the pivotal role of Ahsan Iqbal in establishing key national research centers. He highlighted that the NCRA, along with the National Centre of Artificial Intelligence, National Centre of Big Data and Cloud Computing, National Centre of Cyber Security, and the National Centre of GIS and Space Applications, were all launched in 2017-2018 as part of the minister's vision to propel Pakistan into a technology-driven future. He noted that Iqbal's unwavering dedication has transformed these initiatives into thriving ecosystems of innovation, commercialisation, and national impact. Copyright Business Recorder, 2025
Business Recorder
22-04-2025
- Business
- Business Recorder
Pakistan proposes tech alliance with ASEAN, eyes inclusive digital future
Minister for Planning and Development Ahsan Iqbal has called for a strategic technology partnership between Pakistan and ASEAN to foster inclusive prosperity. Speaking at the ASEAN-Pakistan Technology Expo in Islamabad on Tuesday, he reiterated Pakistan's commitment to building an innovation-driven future. According to a statement from the Ministry of Planning, Development & Special Initiatives, Minister Iqbal emphasized the dual-edged nature of technological progress in his address 'Disruptive innovations are reshaping global economies and societies,' the minister said, as he highlighted the 'risks posed by the growing technology gap, digital divide, and skills mismatch in developing regions.' He identified shared challenges like climate change and youth unemployment, while highlighting synergies such as 'young, tech-savvy populations and robust universities.' The minister proposed three strategic pillars for cooperation, involving knowledge exchange through academic partnerships, joint R&D platforms in emerging fields and inclusive tech development for climate resilience and healthcare. Noting Pakistan's strides like the National AI Policy and Special Technology Zones, Iqbal urged stakeholders to 'reimagine ASEAN-Pakistan relations not merely through the traditional lenses of trade and diplomacy, but as a dynamic technology alliance for inclusive and sustainable prosperity.' He announced concrete steps, including an annual ASEAN-Pakistan Technology Cooperation Forum and a Startup Bridge to link regional innovators. NUST's Umar Khan credited Iqbal's leadership for establishing pivotal research hubs like the National Centres of AI and Cybersecurity in 2017-18, now thriving innovation ecosystems. Concluding with a call to action, Iqbal stressed: 'Future must be built through cooperation, innovation, and shared vision.' The Expo aims to catalyze what he termed 'a smarter, greener, and more inclusive future for the region.'
