Connect with us

Featured

Pakistan Follows Indian Foot-Steps With Its Own ‘Act East Policy’

Published

on

India’s Look East or Act East Policy was an attempt by New Delhi to promote extensive economic and strategic relations Southeast Asian Nations (ASEAN) to boost its standing as a regional power and a counterweight to the strategic influence China. Now Pakistan seems to be following the Indian Act East Policy under new PM Imran Khan.

Why are ASEAN Leaders Thronging India on 26th January, Republic Day 2018?

Pakistan’s Act East Policy commenced with Malaysian PM Mahathir Mohamad arriving in Islamabad for a three-day official visit to Pakistan. Mohamad is visiting Pakistan at the invitation of PM r Imran Khan and will attend the Pakistan Day parade as the chief guest.

Mohamad, who is accompanied by a high-level delegation, was received at the Nur Khan airbase by Prime Minister Khan, Foreign Minister Shah Mahmood Qureshi and Planning and Development Minister Khusro Bakhtiar.

In a statement, Foreign Office Spokesperson Dr Muhammad Faisal said the focus of Mohamad’s visit was on improving economic, trade, investment and defence. The visit, he added, would advance the brotherly and friendly relations between Malaysia and Pakistan.

Duqm Project in Oman to Serve As Indian Gateway to the Middle East

The visit largely aimed at enhancing business-to-business contacts and using them for Pakistan’s outreach to ASEAN (the Association of Southeast Asian Nations), Razak Dawood, Adviser to Prime Minister on Commerce, told a press conference in Islamabad.

During the visit, he said, businessmen from the two countries would sign $800 million worth of memorandums of understanding (MoUs) in the areas of “telecommunication, technology, automobiles and halal food”.

Pakistan’s Act East Policy

Dawood said Pakistan wanted to increase its outreach to the far-eastern countries through Malaysia because the country looked to change its ‘China-centric’ economic policies. “We believe Malaysia will be an opening for us to the ASEAN countries,” he said.

Dawood, who had been critical of the China-Pakistan Economic Corridor (CPEC) projects in past, told a press conference hours before arrival of Mahathir Mohamad that the time had come for Pakistan to look towards other Asian nations.

India’s ‘Act East Policy’ and China’s ‘One Belt One Road’ Compliment Each Other

“Pakistan was China-centric during past five years and there was China, China and China in everything,” Dawood said, adding that China had helped Pakistan address bottlenecks in power and infrastructure sectors but “we have to learn how to keep relations with other countries as well.” He, however, acknowledged that Pakistan hugely benefited from the Chinese investment.

Dawood said that Pakistan wanted to use connections of the Malaysian businessmen to get access to ASEAN. In return, the adviser said, Malaysia would get access to the Central Asian states via Pakistan. “Our policy is to reach out to Far East Asia through Malaysia,” he added.

ASEAN is a market of 651 million people with a combined gross domestic product (GDP) of approximately $3 trillion and a high human capital development index, according to the Board of Investment. Statistics of State Bank of Pakistan showed that Pakistan received $1.6 billion foreign direct investment (FDI) during July-February period of the current fiscal year and 55% of it came only from China alone.

Dawood said that there was a hope that CPEC would supplement the FDI in Pakistan but due to a preferential treatment given to the Chinese investors, the investment from other countries declined massively in the past five years.

When asked about Prime Minister Mohamad’s decision to cancel some of the Chinese projects due to their high cost, Dawood said that every country had its own dynamics and “cancellation of Chinese investment deals by Malaysia does not mean that Pakistan will also follow the suit”.

More News at EurAsian Times

 

Advertisement
Advertisement

Facebook

FEATURED

SAUDI-IRAN SAUDI-IRAN
Featured7 mins ago

Both Saudi Arabia & Iran ‘Shot-Down’ Pakistan’s Proposal On Kashmir; Reaffirm Support To India

Once again, Pakistan has failed to place its rhetoric on Kashmir among its “key allies” after Saudi Arabia and Iran...

macron-erdogan macron-erdogan
Europe33 mins ago

French Macron vs Turkish Erdogan: Clash of Personalities, Ambitions or Civilizations?

The French government has called for a crackdown on “radical Islam” following the beheading of a history teacher for showing...

SANSKRIT SANSKRIT
Featured1 hour ago

Did NASA Accept That Sanskrit Is The Best Suited Language For Computer Programming?

Social media is abuzz with hailing Sanskrit as the “best language” for computers, citing a National Aeronautics and Space Administration...

Karot-Hydropower-Project Karot-Hydropower-Project
Featured2 hours ago

Crack Appearing In Pakistan, China Relations As Beijing Demands Higher Interest Under CPEC?

Beijing’s ambitious Belt and Road Initiative (BRI) hailed by Pakistan and supported through the China-Pakistan-Economic-Corridor (CPEC) has reportedly hit a...

HYPERSONIC-MISSILE HYPERSONIC-MISSILE
Americas12 hours ago

Outstripped By Russia & China, US To Adopt Chinese Model In Developing Hypersonic Weapons

After vehemently criticizing China for its civil-military fusion model, Pentagon has now decided to follow China’s lead by awarding a...

XB-51 XB-51
Americas13 hours ago

Watch – The Historic US’ XB-51 Attack Aircraft That Was Shelved For Its Weird Looks & Unorthodox Features

Long before the dawn of modern aircraft like the F-35s, F-22 Raptors, the Nighthawk, and even the Blackbird, the United...

US-AIRLINES US-AIRLINES
Featured14 hours ago

World’s Busiest Airports – French CDG Beats London Heathrow, Beijing Airport Hit The Hardest

The air travel industry saw its darkest months as traveling was restricted around the world amid the COVID-19 pandemic. Beijing...

qatar-saudi qatar-saudi
Featured15 hours ago

US Warns Its Citizens Of An Imminent Suicide Drone Attack On Riyadh, Saudi Arabia

Scores of nations across the globe led by the likes of the United States, Israel, Turkey, China, and the United...

US-ELECTIONS-20202-TRUMP-BIDEN US-ELECTIONS-20202-TRUMP-BIDEN
Americas17 hours ago

US Air Force Scrambles F-16 Jets Over A Donald Trump Rally; Fires Warning Shots – WATCH NOW

The audience at a Trump campaign rally in Bullhead City, Arizona, were caught by surprise when a US Air Force...

Terrorism-Pakistan Terrorism-Pakistan
Featured18 hours ago

France Knife Attack: Another Person Beheaded In France; Officials Calls It Terror Attack

Three people have been killed in a knife attack in the French city of Nice, according to the latest reports....

Advertisement