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Diplomacy

Pakistan's Deputy Prime Minister Emphasizes Economic Diplomacy for Development

Strategic Insights

— 1 min read

Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar emphasized the need to shift Pakistan's diplomatic initiatives from conventional diplomacy to economic diplomacy, prioritizing the country's development agenda. He highlighted the importance of equipping young diplomats with the necessary skills to promote trade, investment, tourism, and workforce opportunities. Dar also underscored the potential of Pakistan's workforce, resources, and economy, recalling the country's improvement in economic indicators between 2013 and 2016, before its decline in the following years.

Key Takeaways:

  • Deputy Prime Minister Mohammad Ishaq Dar stressed the need for Pakistan to adopt economic diplomacy to advance its development agenda.
  • Dar emphasized the importance of equipping young diplomats with skills to promote trade, investment, tourism, and workforce opportunities.
  • Pakistan has great potential in terms of workforce, resources, and economy, with mineral reserves worth over $10,000 billion.
  • The country's economic indicators were impressive between 2013 and 2016, with a 6% economic growth rate, a 3.6% CPI inflation rate, and a 2% food inflation rate.
  • Unfortunately, Pakistan's economy declined in the following years, dropping to 47th global economy.
  • Dar expressed confidence that Pakistan, with its nuclear power, strategic location, and natural resources, will one day lead the Muslim Ummah.

Statistics:

  • $10,000 billion: Worth of Pakistan's mineral, granite, and stones' reserves.
  • 6%: Economic growth rate in 2013.
  • 3.6%: CPI inflation rate in 2013.
  • 2%: Food inflation rate in 2013.
  • 47th: Global economy ranking of Pakistan in recent years.
  • 24th: Global economy ranking of Pakistan in 2013-2016.
  • Every 3-4 years: Duration of Pakistan's economic turnaround between setbacks.

Sources:

  • [Speech by Deputy Prime Minister Mohammad Ishaq Dar at the passing ceremony of 43rd passing out specialized diplomatic course at the Foreign Services Academy]
  • [Al-Quds newspaper]

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