PHOTO: AFP
ISLAMABAD: Economic Cooperation Organization (ECO) countries can achieve true economic and trade potential through greater integration and connectivity, said Finance Minister Ishaq Dar.
Talking to the heads of ECO Chamber of Commerce and Industry (ECO CCI) delegations at a meeting at the Prime Minister’s office, he said that that the role of private sectors will be vital for achieving ECO’s vision 2025.
Welcoming the guests, the minister conveyed felicitations on behalf of the prime minister and the people of Pakistan on conclusion of a successful ECO summit.
He said that the ECO region accounts for 16% of the world’s population but only 2% of the world’s trade.
“Trade and investment are the areas the ECO countries especially need to focus on and for that regional connectivity is all the more necessary.”
In addition to ECO initiatives and China-Pakistan Economic Corridor (CPEC), regional connectivity is being enhanced through bilateral and multilateral agreements, he added.
Dar cited the CASA-1000, TAPI and Central Asian Regional Economic Cooperation, adding that with dedicated efforts ECO countries can achieve the objectives described in the declaration of the just concluded summit.
He said that it was necessary to ease procedures for visa facilitation, especially for the business community among ECO countries.
“Pakistan has achieved macro-economic stability and is now treading on the path of sustainable and inclusive growth,” said Dar, adding that international experts have acknowledged the economic headway made by Pakistan.
“We are eyeing a GDP growth rate of 7% in another year or so and look for greater engagement with ECO countries.”
Published in The Express Tribune, March 5th, 2017.
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