Former SAARC Chamber of Commerce and Industry president Iftikhar Ali Malik has welcomed the recent understanding between Pakistan and Bangladesh to revive the South Asian Association for Regional Cooperation (SAARC), describing it as a “major breakthrough” with the potential to significantly enhance regional trade and cooperation.
In a statement issued Tuesday, Malik expressed satisfaction over the “meaningful and result-oriented” meetings in Bangladesh where the two countries agreed to work toward reinvigorating the SAARC forum. He recalled Pakistan’s longstanding contribution to the organization, noting that the country donated prime commercial land in Islamabad for the SAARC Chamber headquarters — a nine-story, state-of-the-art building completed under his supervision as Chairman of the Construction Committee.
Malik added that Pakistani industrialists had borne more than 80 per cent of the total construction cost. Calling the renewed engagement a “good omen,” he said Pakistan and Bangladesh had not only focused on bilateral relations but also prioritized revitalizing regional cooperation through SAARC.
“This development will help restore mutual trust among member states and pave the way for greater regional trade and economic integration, which is the real essence of SAARC’s founding charter,” he remarked.
Emphasizing that Pakistan and Bangladesh are two key economies with immense trade potential, Malik said their reconciliation would send a positive signal to other member states. He pointed out that despite being home to one-fourth of the world’s population, South Asia still lags behind blocs such as ASEAN and the European Union in regional trade.
Looking ahead, he expressed hope that SAARC’s revival would promote shared prosperity, industrial growth, and poverty reduction across South Asia, while urging the private sectors of both countries to tap into untapped trade opportunities. He underlined that peace, harmony, and political stability remain essential for unlocking stronger economic cooperation.
