ISLAMABAD: The Advisor to the Prime Minister on Foreign Affairs, Sartaj Aziz, Tuesday said that the region especially Western China and Central Asia has tremendous development potential that would offer opportunities to the Economic Cooperation Organization (ECO) countries.
Commenting on Ministerial Council meeting of ECO, he said the most significant document ECO vision 2025 has been adopted in the council meeting which would help bring about change in the lives of the people this region. However, he added, all members have to work jointly to realize this document for establishing communication, trade and economic ties.
He said that China’s one belt one road initiative is a significant tool to achieve the objectives of the ECO and the China Pakistan Economic Corridor (CPEC) is the key project of this initiative that would open up new avenues not only for these two countries.
CPEC he said would bring benefits to all member countries. Its effectiveness would increase manifold after its linkage with other corridors in the region, he added. He said it is important that the physical infrastructure should be in place to realize the goals of the ECO vision 2025 which was important for enhancing trade activity in the region. It would cut the transportation charges and time consumption, he added.
He said due to security reasons, the summit is being held two years later. ECO was expanded in 1992 but it could not make major breakthrough due to certain reasons due to lack of political will. The political will is a pre-requisite for achieving the objectives of ECO for which, he added, the summit will play its role, enabling it to achieve its goals..
He said that Pakistan was already working on energy and gas projects from Central Asian states to meet the energy shortage.
The ongoing 22nd Economic Cooperation Organization (ECO) Council of Ministers Meeting (COM) on Tuesday elected Adviser to the Prime Minister on Foreign Affairs Sartaj Aziz. Addressing the council, Sartaj Aziz said the region is facing terrorism and extremism which was eating up major chunk of the resources of these countries. He underlined the need to put in joint and concerted efforts to face this challenge.
He said the enhanced cooperation and strong ties would help bring prosperity for the people of this region. He also termed the China Pakistan Economic Corridor as significant game changing project for the the countries in the region.
Sartaj Aziz said that Pakistan has accelerated its economic growth from an average of 3% in 2007-2012 to 4.7% in the last four years.
The priority goal of the government has been economic development, as an important pre-requisite for achieving peace and stability he said adding that all macro-economic indicators are looking up which has raised the investors confidence in the country.
Pakistan was taking serious steps to upgrade road infrastructure in order to facilitate smooth flow of goods with our neighhours. “We are confident that China- Pakistan Economic Corridor (CPEC) would galvanize trade opportunities with the ECO region. Pakistan has also launched Integrated Transit Trade Management System to revamp the transport infrastructure”, he added.
“We have also made good progress in combating the scourge of terrorism and extremism through a comprehensive strategy of law enforcement and targeted military operations. We are therefore confident of providing safe transit passage for smooth flow of trade activities without any barriers”, he said. He said that the ECO region is poised for economic prosperity, peace and stability through enhanced regional connectivity, greater integration and removal of trade barriers. Greater connectivity among the Member States through rail, road, sea and air linkages will act as a catalyst to boost intra-region trade, he added. The ECO region can benefit from the CPEC and Gwadar port as it would bring down the cost and time of transportation considerably, he said adding, “Let us all work towards transforming the ECO region to a formidable economic block and realise the vision of our leadership by using the full potential of our natural and human resources”. He also expressed his deep appreciation to Foreign Minister of the Islamic Republic of Iran, Mohammad Javad Zarif, for steering ECO with great distinction since 2012.
He also acknowledged and appreciated Secretary General ECO, Halil Ibrahim Acka and his team for their hard work and dedication in preparing for the Summit.
The Secretary General of the Council, Halil Ibrahim expressed his gratitude for the hospitality and the arrangements made by the host country for the ECO summit. He said that the ECO member countries collective gross domestic product is over one trillion US dollars that reflect the existence of huge potential of the region.
He added that ECO has a status of observe in many bodies of the United Nations besides it had signed 45 agreements with the UN.
He said a comprehensive plan has been envisaged to ensure effective communication linkage among the member countries.
The foreign Minister of Iran Jawad Zareef also highlighted the need to fight the challenges jointly.
He said ECO was an appropriate forum for cooperation among the member countries for the benefit of the people of this region.
He acknowledging the hospitality and arrangements made by Pakistan for holding the summit, he said the ECO vision 2025 should be worked upon unitedly and hoped it would bring prosperity in the region. APP