Pakistan seeks trade expansion and Global South financial reforms

Pakistan is seeking to expand its role as a regional transit hub and advocate for financial reforms benefiting the Global South. Federal Minister Abdul Aleem Khan highlighted that despite facing significant economic challenges, including high energy costs and global uncertainty, Pakistan is utilizing its geoeconomic position to facilitate trade. He noted that Karachi Port remains operational 24/7, handling over 54.685 million tons of cargo in the last fiscal year.

Minister Khan also emphasized the importance of economic-strategic partnerships, specifically mentioning the potential for cooperation with Azerbaijan regarding East-West corridors.

On the international stage, Pakistan is pushing for reforms in global economic governance to provide developing nations with greater influence over development finance. This includes calls for expanded access to concessional financing, meaningful debt relief, and development strategies driven by national priorities rather than donor interests. Domestically, the country is pursuing fiscal consolidation under an IMF program, with reports indicating progress in primary surpluses and contained inflation during the first half of FY2026.