President
Mamnoon Hussain on Thursday said that there
were numerous opportunities for social and economic development in the member
states of the Economic Cooperation Organization (ECO) and urged the countries
to enrich cooperation in the infrastructure and energy sectors.
Addressing a
dinner reception held in honor of the participants of the annual meeting of the
Regional Planning Council of the ECO, the president said that despite
consisting of six percent of world's population, the region had only two
percent share in world trade. He observed that the ECO countries from Europe,
Central Asia, Middle East and South Asia had enormous potential for bilateral
and multilateral trade as well as joint projects. He said in order to exploit
the potential, the member countries needed to enhance mutual cooperation so
that they could benefit from the emerging economic corridor between Asia and
Europe. The President said the objective behind ECO’s formation was to
establish closer ties and ensure the people’s welfare through free trade and
cooperation in energy and infrastructure.
He viewed
that the ECO countries must strengthen their economy by cashing in on the
opportunities of the connectivity and also suggested that they could also
achieve regional prosperity by waiving mutual taxes. The President said
effective regional cooperation in economic, social, cultural, technical and
scientific fields was a must to achieve the objectives of ECO charter. He
said as the fast growing trade corridor between Eurasia and Central Asia
coupled with a network of road and rail links and oil and gas pipelines was
further contributing in the importance of our region, the ECO member states
should enhance their bilateral and mutual cooperation. He said the prosperity
of the ECO countries could lead towards the regional peace and stability as
well. The President said Pakistan being a current chair of ECO was playing its
leading role to realize the ECO objectives.
He in this
respect referred to the recent meetings of ECO Customs Officials as well as
Regional Planning Council hosted by Pakistan and said a meeting of ECO Commerce
and Ministers would also be held in January 2018.
President
Mamnoon also cut a celebratory cake to mark founding day of the organization
and said the silver jubilee celebrations of the ECO provided them an
opportunity to renew the resolution to achieve its goals and objectives.
Deputy Chairman
Planning Commission Sartaj Aziz and Secretary General ECO Khalil Ibrahim Akca
also addressed the reception and highlighted its aims and objectives as well as
the achievements so far.
Federal
Minister for Inter Provincial Coordination Riaz Hussain Pirzada and delegates
from the member countries also attended the event.
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