ISLAMABAD, Feb 28 (APP): The meeting of Council of Foreign Ministers of Economic
Cooperation Organisation began here on Tuesday to approve the Islamabad
deceleration to be adopted in the 13th ECO Summit to be held on Wednesday.
The council is expected to approve the “ECO Vision 2025” and text of Islamabad
declaration, recommended by the senior officials of the member states during their
two-day deliberations. Islamabad declaration 2017 contains the salient points of
cooperation among the members of ECO in connectivity, trade, transport and energy
fields.
Addressing the meeting after assuming chairmanship of the 22nd Council of
Ministers Meeting, Advisor to PM on Foreign Affairs Sartaj Aziz called for joint
efforts to transform ECO into a formidable economic bloc through full exploitation
of its human and material resources.
He also identified the priority areas for ECO to help realise the dream of
transforming the organisation into a strong economic bloc.
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 in different corridors.
The advisor said there was 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 galvanise
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 organised 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.
Addressing the meeting, outgoing Chairman of the Council of Ministers and Iran’s
Foreign Minister Javad Zarif said the organisation should invest more time and
energy for implementation of ECO Vision 2025.
He said the member states want the ECO to focus on projects and programmes which
bring about maximum economic benefits to members and the region as a whole.
He said continued regional cooperation within the ECO framework would require
enhanced institutional and operational capacities in the organisation.
The Iranian Foreign Minister expressed the confidence that the Vision 2025 and
associated plans of action would broaden regional integration and cohesion.
Secretary General of ECO Halil Ibrahim in his address to the meeting stressed the
need for sustained efforts and exploring all possibilities for harnessing the full
potential of the Organization for development and prosperity.
He said population of ECO region has reached 471 million and its GDP has cross one
trillion dollars. He pointed out that ECO intra-regional trade has increased to
8.3 percent in 2016 as compared to 5.3 percent in 2000.
The Secretary General highlighted projects and plans being implemented in
different fields including trade and investment, transport, communication, energy,
environment and others.
He said the ECO has signed forty-five MOUs and Agreements with UN System and other
International organizations and these are at various stages of implementation.
He said the ECO is in the process of development a regional framework for disaster
risk reduction.
The ECO Summit is expected to review the state of affairs of the Organization in
the light of the new and emerging global and regional circumstances.
It will also agree on the course of actions ECO should follow in expanding
regional economic cooperation among its member States.
APP/Was/mka/ VNS Islamabad
