Pakistan Strengthens Trade Ties with Central Asia Amid Turkmen FM’s Visit

Pakistan is set to bolster its role as a pivotal trade and transit hub connecting Central Asia with the rest of the world as Turkmenistan’s Foreign Minister Rasit Meredow arrives in Islamabad for a three-day visit on Monday. This visit comes amid increased diplomatic and economic engagement between Pakistan and Central Asian states, including Uzbekistan and Azerbaijan.

Foreign Minister Meredow will engage in extensive discussions with Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar, and will also call on other Pakistani leaders during his stay. The talks will cover a wide range of bilateral relations, with an emphasis on regional and global developments, according to state-run Radio Pakistan.

Central Asian countries, though landlocked, are rich in resources and require better access to regional markets, including Pakistan, China, India, and West Asia. Pakistan, leveraging its strategic geopolitical position, aims to facilitate this access and strengthen trade and investment relations with its allies. This initiative is part of Islamabad’s broader strategy to stabilize its fragile $350 billion economy amid an acute balance of payment crisis, soaring inflation, and surging external debt.

The China-Pakistan Economic Corridor (CPEC) project, in which Beijing has pledged approximately $65 billion in energy, infrastructure, and other projects in Pakistan, presents a significant opportunity for Central Asian states. Through CPEC, these states can transport their goods more efficiently to regional and global markets, thereby enhancing economic connectivity and cooperation in the region.

Recent months have seen a surge in visits, investment talks, and economic activities between Pakistan and Central Asian states, underscoring the mutual interest in strengthening economic ties and regional integration. This visit by Turkmenistan’s Foreign Minister is a significant step towards realizing these goals and fostering greater regional cooperation.