ISLAMABAD: Prime Minister’s Advisor on Foreign Affairs Sartaj Aziz has been elected as Chairman of ECO Ministerial Council on Tuesday.
Addressing the meeting after assuming Chairmanship of the 22nd Council of Ministers Meeting, Advisor on Foreign Affairs Sartaj Aziz called for joint efforts to transform ECO into a formidable economic block through full exploitation of its human and material resources.
He also identified the priority areas for ECO to help realize the dream of transforming the organization into a strong economic block.
Sartaj Aziz said immediate attention should be paid to increase intra-regional trade which is far below the potential. He called for implementation of ECO trade agreement and removal of trade and non-trade barriers besides establishment of a Free Trade Area in the region.
He pointed out that lack of regional connectivity was a major impediment to economic cooperation. He said for movement of goods, there should be focus on corridor based projects for greater connectivity different corridors.
The Advisor said there is need to increase the membership, scope and activities of ECO Trade and Development Bank as well as ECO Re-Insurance Company.
He also proposed enhanced cooperation of public and private sectors of member states through ECO Chambers of Commerce and Industry.
He suggested an increase in membership and ratification of ECO Science Foundation to promote scientific and technological cooperation in the region.
Sartaj Aziz called for using the platform of Parliamentary Assembly of ECO to promote democratic values among member states.
The Advisor also briefed the participants about Pakistan’s economic achievements that have restored investors’ confidence.
He said the Government is focusing on creation and improvement of infrastructure and expressed the confidence that China-Pakistan Economic Corridor would galvanize trade opportunities within the region. He asked the ECO countries to use Gwadar and the CPEC for economical trade of their goods to other countries.
The Adviser pointed out that the region is faced with multiple challenges including terrorism, drug trafficking and other trans regional organized crimes. He said concerted efforts are required to meet the challenges and take forward the development agenda of the region.
Highlighting the economic progress made by the country over the last four years, the adviser said all the economic indicators are positive which has raised the confidence of investors. He said the country is also pursuing a comprehensive anti terrorism policy. He said we are committed to provide smooth and safe transit for trade of goods.
