Caretaker PM stresses reforms, actions to realize ECO objective for economic, peace dividends
Caretaker Prime Minister Anwaar-ul-Haq Kakar on Thursday, reiterating Pakistan’s commitment to the ECO Vision 2025, called for collective efforts and accelerated reforms to achieve the Organisation’s objectives and region’s trade potential for bringing “colossal” economic and peace dividends.
“Let us make ECO an organisation, not just of words, but actions, not just commitments but implementation. It is crucial for us to work collectively and diligently to realise the goals and objectives of the Organisation… Our region, if well connected, can bring colossal economic and peace dividends for our people,” the prime minister said addressing the 16th Summit of the Economic Cooperation Organisation (ECO).
The prime minister’s address encompassed an array of issues, including the ECO’s existing trade and true potential, the humanitarian situation in Gaza, Indian atrocities in the Indian Illegally Occupied Jammu and Kashmir, Islamophobia as well as the ECO’s projects of regional connectivity.
He said being blessed with natural resources, geographical linkages and cultural heritage, the ECO region had been unable to exploit its true trade potential as it had just two percent share in global trade and eight percent in intraregional trade.
He said in 2022, the trade within the ECO region was recorded at $39 billion against $577 billion with the world and the intraregion exports also stood at $46 billion.
He said the ECO Vision 2025, which was adopted by the 13th ECO Summit in Islamabad had called for increasing regional trade, strengthening connectivity, operationalising major transport corridors and seeking energy security.
Calling for deliberations to expand share in the global and intra-region trade, he emphasised reducing barriers, developing infrastructure, and formulating environment-friendly and sustainable policies, besides reducing poverty.
Prime Minister Kakar supported the ECO’s corridor-based approach like Kyrgyzstan-Tajikistan-Afghanistan-Iran (KTAI), Islamabad-Tehran-Istanbul (ITI), Kazakhstan-Turkmenistan-Iran (KTI) and others, and said the integrated transport projects would help promote trade and connectivity.
Editor: Raja Kamran