Maritime Trade: Comparing Pakistan with Maritime Neighbours

Abstract

Economic and development strategy in Pakistan has not been up to the standard deemed as prerequisite of any nation that tends to develop rapidly. Inland, offshore, and ocean resources are not exploited as they should have been. This is primarily due to lack of consistency in the development policies, inflation, unemployment, and most importantly, persisting trouble in the balance of trade and payments. The maritime sector, in this regard, has been a quarry for carelessness and years of neglect. While the shipping industry is way off target, fisheries have become the only coastal resource being exploited out at sea. Maritime vulnerabilities are growing, giving rise to a consistent decline in trade and tariffs, and to gauge Pakistan's economy, the economic viability of this sector is further becoming limited. This article focuses on the state of Pakistan's maritime trade and compares it with Pakistan's maritime neighbours, i.e., India, Iran, and Oman.