PHOTO: FILE
Talking to Kyrgyz Republic Minister of Economy Kojoshev Arzybek Orozbekovich at the Prime Minister Office on Thursday, the premier said promotion of regional connectivity was one of the seven pillars of the government's development strategy.
He said the government was actively pursuing the initiative, which had the potential to integrate South Asia, China and Central Asia - the three engines of growth in Asia.
‘Pakistan can tap trade potential of Central Asian states’
Citing the positives achieved by the government, Sharif said Pakistan economy’s growth rate had increased by 4.84% over the last three years and it now offered great investment opportunities to foreign investors.
“Pakistan has embarked on a major reform programme that is aimed at fiscal stabilisation, mobilising domestic resources, phasing out subsidies, restructuring the power sector and public sector enterprises and strengthening social safety nets.”
Talking about the Casa-1,000 power supply project, the premier emphasised that it would play an important role in addressing power shortages in Pakistan and expressed satisfaction at the pace of progress on the project.
Pakistan to receive more as Afghanistan abandons share in CASA-1,000
He mentioned that recent meeting of the Joint Working Group, held in Dubai on December 5-8, 2016, took some important decisions, which would ensure the project's timely completion.
He was of the view that the volume of trade between the two countries could be further enhanced and the third session of the Pakistan-Kyrgyzstan Joint Ministerial Commission (JMC) would prove fruitful in enhancing the trade and economic relationship.
Third JMC session
The third JMC session concluded on Thursday with the decision to further enhance cooperation in various fields of economy, particularly trade and energy.
The two-day session was jointly chaired by Federal Minister for Water and Power Khawaja Asif and Kyrgyzstan Minister of Economy Arzybek Orozbekovich.
Both the ministers signed a protocol at the end of the meeting. It was decided to take measures for developing better interaction between trade promotion organisations of both the countries and develop trade linkages, including activation of the Joint Business Council.
It was agreed that a joint working group on industry would be established and it would hold its first session soon, while a joint venture would be launched for textile manufacturers.
Pakistan, Kyrgyzstan look to boost energy, trade ties
Kyrgyz representatives expressed keen interest in exploring the potential of import of Pakistani goods, especially surgical, textile, sports and cutlery products.
The possibility of procurement of Kyrgyz ammunition for firearms by the armed forces of Pakistan was also explored.
Both the sides expressed satisfaction over the progress achieved so far on the Casa-1,000 project and expressed the resolve to initiate physical work as early as possible to meet energy requirements by the summer of 2020.
The JMC agreed to enhance work under the Quadrilateral Agreement for Traffic in Transit signed by Kyrgyzstan, Pakistan, China and Kazakhstan.
Pakistan also offered fully funded short-term training in the banking sector under the Pakistan Technical Assistance Programme and sought nominations from Kyrgyzstan by April.
Media talk
Later, talking to media persons, Asif said the trade volume between the two countries was just $2.5 million, which was far lower than the potential.
He emphasised that arrangements for importing electricity through Casa-1,000 had been finalised, adding that efforts were under way to overcome energy shortage by 2018.
However, he said load-shedding would be linked with the recoveries, adding, “Cent per cent recoveries will mean 100% electricity.”
The minister said work on the Diamer-Bhasha and Dasu dams would be executed simultaneously to improve water and energy supplies. APP
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