East-West Economic Corridor: Formal launch of landmark research report
He was addressing a high-level gathering of diplomats, experts, and development partners at the formal launch of a landmark research report examining the feasibility of an East-West Economic Corridor connecting South Asia and Central Asia on Tuesday.
The event was graced by the Ambassador of Kazakhstan, Yerzhan Kistafin, along with other distinguished dignitaries, and marked a pivotal moment in shaping the vision for greater economic collaboration in the region.
The report, jointly developed by RAND Corporation with the support of the Junaid Family Foundation and the RAND Center for Asia Pacific Policy Advisory Board, offers key insights into the prospects of a trans-regional economic corridor at a time when the global economic order is undergoing major realignment.
Minister Iqbal stated that South and Central Asia have historically shared civilisational, cultural, and commercial ties. He highlighted that even as political borders have hardened, the logic of economic geography persists. He stressed the urgent need for regional integration, particularly for landlocked Central Asian countries seeking access to global markets—a goal Pakistan is well-positioned to support through its ports in Gwadar and Karachi.
Underscoring Pakistan's strategic location at the crossroads of South Asia, China, and Central Asia, the minister said, 'Our country lies at the heart of a 3-billion population region, offering tremendous opportunity for trade and commerce.' He emphasised that regional connectivity is not just a slogan but a strategic imperative under Pakistan's national development vision.
Referencing the government's 5Es Framework, with a strong focus on Energy and Infrastructure, he explained that Pakistan is promoting multimodal regional connectivity and is making sustained investments in rail, road, and port infrastructure.
'We are actively working to operationalize CPEC 2.0 and Central Asia Regional Economic Cooperation (CAREC) corridors, aimed westward through Pakistan to Central Asia,' he added.
Minister Iqbal outlined Pakistan's tangible steps, including: Upgrading Gwadar Port; Expanding the ML-1 railway; Digitising customs and border crossings; Developing Special Economic Zones (SEZs), and Expanding power transmission capacity.
He reaffirmed that these projects are backed by substantial allocations under the Public Sector Development Programme (PSDP), with the largest share of funding dedicated to infrastructure, logistics, and energy.
'Our commitment is visible through ongoing projects that aim to make connectivity both feasible and functional,' he stated.
The planning minister emphasised that connectivity cannot thrive in an environment of coercion, occupation, and hegemonic ambition, and stressed that regional peace is the first prerequisite for regional trade.
'The idea of an East-West Economic Corridor connecting Central Asia, Afghanistan, Iran, Pakistan, and India is not new, but it must evolve from aspiration to actionable policy backed by political will and mutual trust,' he said.
Concluding his address, Minister Iqbal reiterated Pakistan's firm commitment to a foreign policy anchored in geo-economics, saying: 'Pakistan stands for peaceful coexistence, regional integration, and mutually beneficial cooperation. Our national development model, Uraan Pakistan, places connectivity, trade, and sustainable growth at the heart of our strategy.'
He acknowledged the immense potential of regional corridors, especially a land-based East-West corridor, to unlock economic prosperity and access to global markets for all partner countries.
Copyright Business Recorder, 2025
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