It was revealed during the Carec Business Forum in Bishkek, where global development partners, including the Asian Development Bank (ADB), renewed commitments to cross-border digital connectivity.
The losses in foreign trade due to the lack of digitisation in Pakistan were discussed during the international event where the ADB announced plans to invest over $10 billion by 2030 to support projects under the Central Asia Regional Economic Cooperation (Carec) framework, aiming to build a digitally connected and resilient region.
The urgency for transparency and traceability in trade has grown following the International Monetary Fund’s (IMF) recent identification of an $11 billion discrepancy in Pakistan’s trade data, urging Islamabad to modernise reporting and restore global trust.
Addressing the Carec Business Forum, galaxefi Founder and CEO Asif Pervez said Pakistan stands at a pivotal moment where technology-driven reforms can unlock significant trade gains and position the country as a digital trade hub for the entire Carec corridor.
“Pakistan cannot afford to lose $36 billion annually when technology offers a direct solution to overcome these systemic bottlenecks,” he said. “The government must act decisively to build a trusted digital ecosystem for regional trade.”
His remarks align with findings from the Carec Institute, which has consistently warned that the region’s major trade barrier is not physical infrastructure but the absence of a unified multimodal e-logistics system. While Pakistan Single Window (PSW) has digitised government procedures, nearly 70% of private logistics operations remain manual, keeping Pakistan uncompetitive across global supply chains.
ADB President Masato Kanda told delegates that countries which “connect faster and trade smarter” will lead the next wave of economic growth.
He announced that ADB will quadruple private-sector financing to $13 billion a year by 2030, dedicating 30% of future operations to regional connectivity and digital corridors. “This connectivity is designed with purpose making commerce smoother, greener and more inclusive,” he said.
Pakistan signed two major memoranda of understanding (MoUs) at the forum – the Carec Innovation and Venture Investment Catalyst Facility and the Carec Digital Corridor Initiative – both aimed at deepening digital cooperation.
“Pakistan must seize this moment,” Pervez stressed. “The technology, infrastructure and partnerships already exist. What we now need is decisive alignment from the public sector. This is how we eliminate $36 billion in losses and transform into a competitive regional force.”