Karachi, January 24, 2023 (PPI-OT):Foreign Minister Bilawal Bhutto Zardari has said that ECO is an important platform for promoting communication, trade and economic cooperation among member countries, there is a need to review its progress in terms of ECO Vision 2025. Member States should coordinate their policies to mitigate the negative effects of the current global economic crisis. All countries must act on an urgent basis to deal with climate change.
He expressed these views while addressing the 26th Ministerial Council meeting of the Economic Cooperation Organization (ECO) in Uzbekistan’s capital Tashkent on Tuesday. Foreign Minister Bilawal Bhutto Zardari stressed the need to work together for the betterment of the region and said that the world is facing problems like economic, climate change and Islamophobia, the steps taken now will determine our future he said Pakistan believes in solving problems through dialogue, we need to work together for the betterment of the region.
The foreign minister said that all countries have to work on an emergency basis to deal with climate change, the world is facing the effects of climate change, in 2022 Pakistan faced the worst flood in history.
Bilawal Bhutto Zardari said that due to the recent floods, Pakistan lost 30 billion dollars, more than 30 million people were affected by the floods, millions of houses and thousands of acres of standing crops were affected.
He said that flood victims and recovery of the economy is the first priority, Pakistan’s share in global carbon emissions is less than one percent. He congratulated the Minister of Foreign Affairs of Azerbaijan on assuming the chairmanship of the Ministerial Council.
The Foreign Minister said that Pakistan sees ECO as an important platform in the region which strengthens relations between member countries. It is an important platform for promoting communication, trade and economic cooperation between countries.
He said that since its inception, ECO has continuously developed and today the organization boasts of a solid framework of cooperation, a forward-looking agenda and an expanding horizon of activities.
Bilawal Bhutto Zardari said that more than 1500 people have lost their lives due to floods in Pakistan, including 400 children, while more than 33 million people, including women and children, have been displaced, and there is a threat to health and hunger.
He said that one million houses were destroyed and more than one million domestic animals were killed due to floods, standing crops on four million acres were destroyed, despite the passage of six months, a large part of the country is under water.
He said that the ECO region consists of 8 million square kilometres and half a billion people, which is about 15 percent of the world’s population, but its share in world trade is only 2. 2 percent. The foreign minister said that our intra-regional trade is less than 8 percent of the region’s total trade, unlike the European Union, where intra-regional trade is more than 70 percent.
He said the ECO Trade Agreement is a landmark preferential trade arrangement aimed at reducing tariffs in the region over a defined time frame. Pakistan attaches great importance to its early implementation, we hope that the ECO Trade Agreement tariff concessions will be implemented soon.
Pakistan will continue to give high priority to trade promotion and facilitation under the ECO framework. He said that ECO Vision 2025 is an important document adopted during the 13th ECO Summit in Islamabad which guides us towards increasing inter-regional trade.
Progress needs to be reviewed. He said development of road and rail projects, liberalized visa system and border system Connectivity by making the car easier will not only meet our inter-regional energy needs but also increase regional trade, enabling us to act as a bridge and promote mutual relations. Promotion of mutual trade and investment is a key strategy to strengthen our security, and greater economic cooperation between us will bring peace and stability to the region.
He said that an important development in recent times is the operationalization of the Istanbul-Tehran-Islamabad (ITI) road corridor as well as the establishment of a fund for the implementation of the Transit Transport Framework Agreement, under the TIR system.
Trucks of Pakistan’s National Logistics Cell are successfully transporting cargo through Iran, Pakistan is upgrading its rail and road infrastructure to facilitate smooth movement of goods within our neighbourhood and beyond. The Foreign Minister said that Pakistan is a victim of terrorism and it understands the value of peace and security, we have always tried to promote peace and stability and uphold international law and the UN Charter.
He said that our region plays an important role in the peace, stability and prosperity of Afghanistan. It is our utmost desire to see peace take root in the brotherly country of Afghanistan which has been suffering due to decades of war and instability.
Without peace and stability in Afghanistan, the aims and aspirations of the ECO region will be a dream. He urged the ECO member countries to coordinate their policies to mitigate the negative effects of the current global economic crisis. Free trade will be promoted which will be a factor of world peace, stability and prosperity.
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