Access to the Central Asian markets through the Wakhan trade route holds significant potential for Pakistan to enhance economic partnerships and regional connectivity. In an interview with WealthPK, Yusuf Saleem, former federal secretary for trade and commerce, said leveraging Wakhan Corridor as an alternative route to international markets could significantly reduce costs and ensure timely transportation of goods from Pakistan to the Central Asian markets. As reported by the State Bank of Pakistan, during the initial nine months (July-March) of FY2022-23, Pakistan experienced a notable surge in exports to Central Asian countries, registering a remarkable 33% growth. The export value reached $166.205 million, surpassing the figure of $124.774 million recorded during the same period in the previous fiscal year.

Historically, the Wakhan Corridor has consistently served as a vital route, connecting China, Iran, Central Asia, and the Indian Subcontinent, the former federal secretary said. Mentioning the trade potential of Pakistan through this route, he said, “Pakistan is renowned for its textile and garment industry. Exporting fabrics, clothing, and fashion items to the Central Asian markets can leverage Pakistan's strength in this sector. Pakistan has a significant leather industry as well. Exporting leather goods, footwear, and accessories can find a market in Central Asia.” The Wakhan trade route holds potential not only for the transit of goods but also for energy resources. It can facilitate the transit of energy supplies between the energy-rich Central Asian countries and Pakistan, contributing to energy security, he added.

Talking about the strategic significance of this corridor for Pakistan, China, and Afghanistan, he said, “China has shown its intentions to extend its economic cooperation to Afghanistan after the US withdrawal. Connecting the Wakhan Corridor to the Karakoram Highway would establish the most direct route for China to reach its major projects in Afghanistan, while simultaneously offering Afghanistan the shortest path to access the expansive Chinese market.” Despite challenges such as geopolitical complexities, security concerns, and absence of coordinated regional efforts, Yusuf Saleem remains optimistic that the Wakhan Corridor can still be made functional for the collective benefit of South Asian countries in general, and Pakistan in particular.

Credit: Independent News Pakistan (INP)