Pakistan’s Economic Diplomacy: Balancing Trade and Economic Security
DOI:
https://doi.org/10.21015/vtess.v13i1.2177Abstract
This essay highlights Pakistan's shift from traditional geopolitics to a geo-economic approach while providing a full analysis of the evolving dynamics of its economic diplomacy. At the core of this change are important initiatives like the Economic Outreach Initiative and the China-Pakistan Economic Corridor (CPEC), which aim to promote trade and tourism, boost foreign investment, and strengthen regional integration. A key advantage of Pakistan is its strategic location, which enables it to manage complex ties with neighboring nations like India and Afghanistan while also interacting with regional powers like China, the United States, Iran, and members of the Shanghai Cooperation Organization (SCO). The study explores the intricate relationship between economic diplomacy (ED) and economic security (ES) using a qualitative methodology that includes case studies, questionnaires, and documentary analysis. Using realism, constructivism and Economic Statecraft The paper demonstrates Pakistan's efforts to balance commercial liberalization with national security needs. The results demonstrate Pakistan's strength and ability to benefit from free trade agreements (FTAs) and regional cooperation, despite significant challenges such as political unrest, poor infrastructure, and non-tariff constraints. The article concludes with recommendations for changing policies, making targeted investments, and committing to sustainable development in order to secure Pakistan's economic success in a rapidly evolving global marketplace.
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