Pakistan: Foreign Policy

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Pakistan: Foreign Policy

Pakistan, a land of many splendors and opportunities, a repository of a unique blend of history and culture for both the East and West has been the cradle of one of the oldest civilizations. The Indus valley, is the ninth most populous Area in the world, with 134 million tough, conscientious, hard working people wishing and striving hard to enter into the 21st century as equal partners in the community of the different developed nations. During the last 20 years Pakistan's economy has been one of the fastest growing in the world-the seventh fastest in Asia (www.forisb.org/fpolicy). Pakistan's economy has been becoming large on a worldwide scale, with the annual gross domestic product growing at more than six percent a year. It is now a member of the Economic Cooperation Organization, and the South Asian Association of Regional Cooperation (www.forisb.org/fpolicy). Pakistan is strategically located in close proximity to the affluent Middle East. It is in position geographically to be a gateway of trade for many land-locked countries, such as Afghanistan and those of central Asia. It is also in proximity to the enormous East Asian Markets. The trade relations of Pakistan have been very diverse, for trade has been opened between them and countries in the Middle East as well as the Far East. The trade policy in Pakistan has been dramatically changed over the last few years. One of the main policies for trade through Pakistan is… in order to decrease manufacturing cost of the exporters, all imports by all direct and indirect exporters under various schemes including no duty, no draw back, manufacturing in bond and temporary import schemes, will be allowed without payment of custom duty, sales tax and with-holding income tax (www3.jaring.my/pakistanhc/page19.html).

Pakistan now has a highly developed financial sector consisting of local as well as foreign commercial banks, investment banks, leasing companies, mutual funds and...
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