Maritime synergy…Warisha Rashid
The emergence of the Association of Southeast Asian Nations (ASEAN) with a combined GDP of more than $3 trillion as a key global economic player represents great opportunities for Pakistans maritime connectivity and economic growth.
Pakistans strategic access to the Arabian Sea through Gwadar and Port Qasim positions it as ASEANs premier transit hub. With its geographical advantage and existing maritime infrastructure, Pakistan has the potential to become a key trade and investment hub for Asias thriving economies. However, this potential is largely untapped.
Pakistan needs to improve its maritime connectivity and infrastructure to capitalise on this strategic advantage. It can also open up new opportunities for growth and prosperity by embracing technological advancements and deepening economic ties through FTAs. This vision not only promises to improve Pakistans financial standing but also foster greater regional stability and cooperation.
ASEAN is expanding its global footprint, and Pakistan can serve as a transit port for member countries by leveraging Gwadar and Port Qasim. The maritime connectivity between Pakistan and ASEAN has the potential to facilitate not only trade but investment as well. Which Pakistan can attract by leveraging its position as a gateway to Central Asia and its connection to the China-Pakistan Economic Corridor (CPEC). It can also sign with ASEAN to export textiles and agricultural products, as well as import high-value manufactured goods and technology from ASEAN member countries.
Strengthening maritime connectivity between Pakistan and ASEAN holds significant geopolitical effects. Enhanced trade ties can foster stronger diplomatic and economic relationships, contributing to regional stability and cooperation. In an era of geopolitical tensions and trade conflicts, building resilient and mutually beneficial economic partnerships is vital for fostering regional security and prosperity.
Certain challenges, however, need to be addressed. First, security concerns such as piracy and maritime crime, particularly in the Straits of Malacca and other critical routes, threaten shipping safety and economic stability, potentially increasing costs and preventing investment. Both ASEAN and Pakistan participate in broader regional and international frameworks that focus on maritime security, such as the ASEAN Regional Forum (ARF), which addresses various security issues and promotes regional cooperation.
Second, political stability, such as government changes, unrest, or policy shifts, can disrupt or delay key initiatives. Bilateral and regional tensions may also undermine cooperative efforts, as diplomatic disputes erode trust and willingness to engage in joint ventures. ASEAN and Pakistan can mitigate the impact of political instability by diversifying their partnerships across multiple sectors and also through consistent and clear communication.
Third, regulatory barriers such as trade and customs regulations, differing across countries, can impede seamless trade flows, making harmonisation crucial for efficient maritime connectivity. Investment and business environments are similarly affected by varying regulatory frameworks, whereas simplified and unified regulations can enhance investment attractiveness. Addressing these issues through cooperative frameworks and bilateral agreements will be essential for ensuring smooth and secure trade flows.
Lastly, to fully realize this prospect, strategic investments in infrastructure and logistics are crucial for maritime connectivity. These include the integration of advanced technologies in port operations, customs procedures, and supply chain management, which can significantly enhance the efficiency and competitiveness of maritime trade and reduce costs. Embracing digital tools and innovative solutions will not only streamline processes but also attract more international partners and investors.
By leveraging Pakistans strategic location, investing in infrastructure, and fostering regional cooperation, both Pakistan and ASEAN can unlock new avenues for trade and investment.
The synergy between these dynamic regions can drive economic progress, strengthen diplomatic ties, and contribute to a more interconnected and prosperous global economy. As we look towards the future, the alignment of interests and collaboration between Pakistan and ASEAN will be pivotal in realizing the full economic potential of this proposed maritime corridor.
The writer is a researcher at the
Centre for Aerospace and Security Studies (CASS), Lahore. She can be reached at: info@casslhr.com
Courtesy The News