Makkah Agreement: ‘Pakistan’s strategic relevance should be used to secure economic dividend’
KARACHI: Mian Zahid Hussain, president of the Pakistan Businessmen and Intellectuals Forum as well as the All Karachi Industrial Alliance, has said that the real success of the Makkah Pact will be measured not only by the security it provides but also by the investment, exports, industrialization, technology and employment it generates. Pakistan should use its growing strategic relevance to…
Pakistan Businessmen and Intellectuals Forum president Mian Zahid Hussain believes the success of the Makkah Pact should be judged by its economic impact, not just security. He highlights how the pact, which includes partnerships between Pakistan, Türkiye, and Saudi Arabia, can generate significant investment, exports, industrialization, technology, and employment.
The pact, which provides a collective defense for the three countries, was discussed as a major step toward regional stability and economic cooperation. Hussain emphasized that the pact's economic potential is significant, with the combined economic strength of the three nations estimated at around $3.33 trillion. Pakistan's substantial population of 250 million, combined with Türkiye's 85 million and Saudi Arabia's 37.5 million, further boosts this potential.
The pact also offers Pakistan access to Türkiye's defense technology and Saudi Arabia's robust defense budget. Hussain believes that if more countries join this alliance, it could expand into a larger regional framework, providing Pakistani businesses with vast market opportunities and increasing their export potential.
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