Archives Pakistan - Page 15 of 22 - New Eastern Outlook

Pakistan has long been vying for expanding its economic relations with the Central Asian countries. The state resolved to follow a foreign policy based on geo-economics under the tenure of the PTI, abandoning the previous one based on geostrategic issues. The Central Asian region holds immense economic potential. The Pakistani leadership has been engaging with different Central Asian countries to materialize this ambition. The landlocked Central Asian countries could also benefit from cordial relations with Pakistan, as the latter can provide them access to the deep sea.

The International Transport Corridor (INSTC) was established in September 2000 by Iran, Russia, and India in St. Petersburg. The corridor expanded with the admission of 13 major corridor member countries such as Azerbaijan, Belarus, Armenia, Kazakhstan, Kyrgyzstan, Oman, Russia, Tajikistan, and Turkey. INSTC connects India to the Caspian Sea, Russia, and Northern Europe through Iran. By bypassing the Suez Canal, INSTC is 40% shorter and 30% cheaper than traditional routes in terms of distance and time.

The recent elections in different parts of the world are deciding factors in shaping the future of the globe. Various South Asian countries also held general elections during the first half of 2024. Bangladesh, Pakistan, and India – some of the SAARC members, also held general elections during this time, while elections in Sri Lanka are also likely to be held before October this year. These general elections in the SAARC countries will not only decide the future trajectories of these countries but will also be the pivotal determinants of the fate of the South Asian Association for Regional Cooperation (SAARC).