Asia becomes new world economic centre

KARACHI: With speedy changes in global economics scenario, particularly Europe where economics development has achieved its optimum level and growth becomes stagnate that demanding reforms in prevailing political economics system as in past they had significant economics prosperity especially the region of South Asia.

This was stated by President of Federation of Pakistan Chambers of Commerce and Industry, Senator Haji Ghulam Ali during interaction with media here at Federation House on Saturday.

He said that European Union after having the highest rate of economic growth and becoming strong economic base is showing downward tendency.

Asia especially SAARC member countries would have a very important role in future. SAARC states must respond very seriously to the on-going global changes.

These countries need to develop better and more active ties / cooperation with each other for the good of their people. The world has realized the importance of regional trade.

We also should do the same, he said. “World Economic experts are unanimous that closer and active working relations with the neighboring countries are essential for economic prosperity of a country," he added.

He emphasized that SAARC and ASIAN blocks should do trade in one currency and should have one visa.

“If Germany, France and European Union can use one visa and one currency, why not SAARC and ASIAN," Senator Ali questioned.

FPCCI President said that Pakistan can be very attractive for international investors as the work-force is very much available here and its cost is comparatively lower.

Highlighting the achievements of FPCCI during his president-ship for last one year, Senator Hajji Ghulam Ali said it increased interaction with the Federal, Provincial and Local Governments and other concerned authorities for resolution of business community's problems. FPCCI also focused on Central Asian Republics which have a big potential for trade and investment in future.

"If environment is good in Torkham area, we can reach CARs within 7 to 8 hours. We can also touch Russia through these states," he explained



Earlier, he gave ' Certificates of Recognition' to economic reporters for their contribution towards promotion of trade and industry in the country.[/align]