DefinePK

Abstract

Commercial liberalism advocates for equitable trade and diplomatic ties, highlighting the interconnectedness of individuals and nations. It emphasizes reducing tariffs and streamlining administrative processes to lower trading expenses. With 75% of the world's energy reserves, Eurasia aspires to economic prosperity through integration. In 2000, Russia, Iran, and India initiated the International North-South Transport Corridor (INSTC) to enhance connectivity and reduce transportation costs across Eurasia. This qualitative research, utilizing sources such as books, journals, government reports, and periodicals, delves into the geopolitical, strategic, economic, and infrastructural aspects of the INSTC. The corridor aims to boost regional integration and economic vitality by improving connectivity and cutting transportation expenses. It addresses conflicts, trade restrictions, and infrastructure development, with its expansion contingent on multiple factors. Strategic planning is vital for the corridor's development in tandem with neighboring regions. Future research should focus on infrastructure growth, geopolitical analysis, economic impacts, international collaboration, and environmental and social effects, thereby enhancing the INSTC's efficiency and potential. For Pakistan, the INSTC presents significant economic opportunities. As a key transit country, Pakistan stands to benefit from increased trade flows, reduced transportation costs, and improved regional connectivity. This will spur industrial development, job creation, and economic growth, reinforcing Pakistan's role in the regional economy and fostering stronger ties with neighboring countries.