The establishment of the central secretariat of the SAARC Chamber of Commerce and Industry in Islamabad has been described as a significant step toward strengthening regional economic cooperation and trade integration in South Asia.
Speaking on the occasion, Rafiq Suleman, spokesperson of the Businessmen Panel (South) and former Chairman of the Rice Exporters Association of Pakistan, congratulated the leadership of the SAARC Chamber, particularly Vice President Anjum Nisar, on the inauguration of the new headquarters in Pakistan.
He said the establishment of the central secretariat marks a positive development that will help facilitate regional trade, policy dialogue, and research-based economic initiatives among member countries.
Suleman stressed that intra-regional trade within South Asia remains extremely low at around 5 percent, despite the region’s vast economic and demographic potential. He noted that South Asia accounts for nearly one-fifth of the global population, yet continues to remain one of the least economically integrated regions in the world.
He compared SAARC’s trade performance with other regional blocs, pointing out that intra-regional trade stands at approximately 36 percent in ASEAN and over 60 percent in the European Union, highlighting significant structural and policy gaps in South Asia.
The business leader also emphasized that enhanced regional cooperation could improve economic indicators across member states and reduce dependence on external markets. He called for stronger collaboration in key sectors such as agriculture, healthcare, pharmaceuticals, education, and tourism.
Suleman further stated that Pakistan’s increasing diplomatic engagement and efforts to support regional stability have enhanced its importance in South Asia, creating a favorable environment for economic collaboration.
He urged SAARC member countries to move beyond political differences and focus on economic integration by reducing trade barriers, improving connectivity, and harmonizing regulations across the region.
The new SAARC Chamber headquarters is expected to serve as a platform for advancing joint strategies aimed at strengthening trade ties and unlocking the region’s economic potential.
