Islamabad: (Parliament Times) Â The meeting of Council of Foreign Ministers of Economic Cooperation Organization held in Islamabad on Tuesday to approve the Islamabad Deceleration to be adopted in the 13th ECO Summit being held on Wednesday.
The Council approved 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.
Advisor on Foreign Affairs Sartaj Aziz
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.
Addressing the meeting, outgoing Chairman of the Council of Ministers and Iran’s Foreign Minister Javad Zarif said the organization 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 organization.
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.
Meanwhile, talking to PTV, adviser to Prime Minister on Foreign Affairs Sartaj Aziz said today’s meeting of Council of Foreign Ministers of ECO approved Islamabad Declaration which is a positive development. The declaration gives the roadmap of various activities to make the Economic Cooperation Organization more vibrant and robust.
He said more than 25years have passed since the establishment of ECO and there is still a long way to go. Sartaj Aziz said in the context of One Belt One Road project of China under which many corridors are envisioned, including China Pakistan Economic Corridor, the holding of summit is very relevant. He said today there was also talk of Free Trade Agreement between the member states and if materialized, this would enhance regional trade.
Replying to a question, Adviser to Prime Minister on Foreign Affairs said Pakistan has been actively working to expand its relations with the Central Asian states and both trade and energy connectivity will enhance with the completion of China Pakistan Economic Corridor.
He said there is a lot of potential in Central Asia and Western China and in future trade, oil transportation and other links will increase.
