Caretaker Prime Minister Anwaarul Haq Kakar has stressed for making the Economic Cooperation Organization (ECO) more vibrant and efficient through accelerated reforms to realize its full potential.
Addressing the 16th ECO Summit in Tashkent, Uzbekistan, Kakar said a well-connected region can bring colossal economic and peace dividends for the peoples.
The caretaker prime minister noted that the corridor-based approach adopted by the ECO to maximize potential was a step in the right direction. Such corridors will lead to greater connectivity amongst the member countries and usher in a new era of massive economic growth in the region, he added. He said the corridor projects will facilitate an enabling environment for the private sector to widen business and investment opportunities.
Terming operationalization of the Istanbul-Tehran-Islamabad corridor a significant development, he said Pakistan is upgrading its rail and road infrastructure to facilitate trade with the neighbours and beyond. He further said it is imperative that more border crossing points in the ECO regional are notified so that trade operations are facilitated.
Kakar said Afghanistan has a critical role in regional connectivity. Pakistan looked forward to working closely with other ECO countries towards the shared goal of building a peaceful, prosperous and interconnected Afghanistan.
The PM pointed out that the ECO trade agreement quota is a landmark preferential trade arrangement. He urged the member countries to sign the quota and thus promote regional trade.
Highlighting the latest developments in the investment landscape of Pakistan, Kakar said the government has established a Special Investment Facilitation Council (SIFC) that will serve as single window platform for cooperation in five key sectors, including agriculture, defense production, IT, energy, and mining.
This body has the mandate to give directions to any government institution, and ensure policy continuation and execution.
Denouncing Israeli atrocities in Gaza, the PM said this issue needs to be addressed in accordance with the relevant UN Security Council resolutions. He urged the ECO member countries to push for a ceasefire in Gaza, support call for provision of humanitarian assistance, and rally efforts to hold Israel to account.
Highlighting the Indian atrocities in held Kashmir, Kakar said Pakistan continues to rely on its fraternal ECO countries to support the exercise of right to self-determination by the people of Kashmir in the light of relevant UNSC resolutions.
Meeting with Uzbek president
Earlier, Kakar held a bilateral meeting with Uzbekistan President Shavkat Mirziyoyev on the sidelines of the ECO Summit.
The leaders exchanged views on deepening bilateral cooperation in a range of areas, including political, trade, economic, security, defence, and connectivity.
Expressing satisfaction at the growing level of bilateral cooperation, the PM stressed the importance of sustaining the momentum. He underlined that the recent operationalization of Preferential Trade Agreement (PTA) and Transit Trade Agreement (UPTTA) would boost bilateral trade and transit trade in addition to streamlining Economic Cooperation Organization Trade Agreement (ECOTA).
The two leaders reiterated their resolve to finalize the Strategic Partnership Agreement at the earliest to promote regional economic integration and reaffirmed their commitment to play an active role for regional connectivity. They also reaffirmed commitment to the early completion of Uzbekistan-Afghanistan-Pakistan railway project.
Prime Minister Kakar and President Mirzyiyoyev also discussed the ongoing humanitarian situation in Gaza and other regional and global developments.
