Regional economies can no longer afford to work in isolation: Iftikhar Malik
LAHORE: SAARC Chamber of Commerce and Industry former President Iftikhar Ali Malik Sunday stressed the urgent need for greater regional cooperation and innovation to build integrated capital markets capable of mobilising investment, enhancing resilience, and fostering sustainable growth across Asia.
In a statement here today he said that in an era of rapid geopolitical and economic transformations, regional economies can no longer afford to work in isolation. Instead, he urged SAARC member states to focus on harmonising financial frameworks, reducing trade barriers, and strengthening institutional linkages to create a more vibrant and interconnected economic landscape. He emphasised that integrated capital markets would not only boost cross-border investments but also enable countries to pool resources, diversify risks, and attract global investors seeking stability and long-term returns. According to him, Asia’s vast potential remains underutilised largely due to fragmented financial systems, inconsistent regulations, and limited regional collaboration. By adopting modern financial technologies, improving governance standards, and ensuring transparency, he said regional markets could be transformed into engines of inclusive and sustainable development,he added.
Iftikhar Ali Malik also highlighted the importance of public-private partnerships in accelerating this regional economic integration. He said that governments must work closely with the corporate sector, chambers of commerce, and financial institutions to design investor-friendly policies and foster innovation-driven growth. He reaffirmed that increased cooperation within SAARC would create new opportunities for trade, industrial expansion, and job creation, ultimately benefitting millions across the region. He added that the time has come for Asian economies to shift from conventional economic practices to more dynamic, technology-powered strategies in order to remain competitive in the global marketplace. Strengthened regional capital markets, he said, hold the key to unlocking Asia’s economic future by ensuring stability, sustainability, and shared prosperity.
