BUSINESS News

August 4, 2015 15:53

American analyst predicts ‘bright future’ of Pakistan on economic front.

An American analyst Daniel Runde, in his recent article, has highlighted the potential of Pakistan on economic front and compared the Muslim country with that of Colombia in the late 1990s when “drugs, gangs, and failed state” were freely associated with the Andean country before it became a progressive state after surviving the worst period.

In his piece for the Forbes, Mr. Runde suggested U.S. policymakers and business leaders to look at Pakistan beyond the security lens. He said the United States ought to be Pakistan’s preferred partner given its 70-year relationship.
He wrote Pakistan will continue to experience attacks by fringe groups, but policymakers and investors need to stop operating as if the Pakistani Taliban is at Islamabad’s doorstep.
The writer believes that “Chinese investment is another reason why the United States should reassess its Pakistan calculus. Since Xi Jinping first announced the $46 billion China-Pakistan Economic Corridor (CPEC) in 2014, the project has quickly become the centerpiece of diplomatic relations between the two countries.”
“Pakistan is the world’s 26th largest economy in terms of purchasing power parity. Its national economic growth plan, Vision2025, aims much higher. With 90 percent of the country employed through SMEs, Pakistan has one of the most entrepreneurial economies in the world.”

He said negotiations for a U.S.-Pakistan Bilateral Investment Treaty (BIT) have stalled due to reservations on both sides, “but a successfully concluded BIT would be a strong signal of certainty and stability for US based investors interested in deeper engagement in Pakistan.”