Pakistan, Turkmenistan to develop closer ties in trade, investment

ISLAMABAD: Pakistan and Turkmenistan have agreed to develop closer economic engagement in the priority areas of trade and investment, energy, connectivity and information technology, and also emphasized the need for early finalization of transit trade agreement and a liberal visa policy to facilitate greater contacts between businessmen of the two countries.

This was agreed during the third round of Pakistan-Turkmenistan Bilateral Political Consultations held here at the Ministry of Foreign Affairs.

Deputy Prime Minister and Foreign Minister Ishaq Dar led the Pakistan side while Turkmenistan side was led by the visiting Deputy Chairman of the Cabinet of Ministers and Minister for Foreign Affairs Rashid Meredov.

According to a statement of the Foreign Office, the two sides reviewed Pakistan-Turkmenistan bilateral relations, including bilateral trade and investment, energy cooperation, connectivity and people-to-people linkages. It added that the two sides noted the positive trajectory of the relations and agreed to further enhance high-level dialogue and exchanges at the leadership level. The two sides will also strengthen bilateral dialogue mechanisms.

It was also agreed to intensify joint efforts to further expand and deepen bilateral cooperation including political, economic and defence domains. The two sides also agreed to develop closer economic engagement in the priority areas of trade and investment, energy, connectivity and information technology. The two sides also discussed the projects of TAPI Pipeline and TAP Electricity Transmission Line.

The statement added that Foreign Minister Dar expressed Pakistan’s commitment to further enhancing bilateral trade and economic ties commensurate with its true potential. He underlined, in this regard, the need for early finalization of the Transit Trade Agreement and liberalization of visa regime to facilitate businesspersons.

It was also agreed to promote bilateral parliamentary engagement and enhance cultural exchanges, educational scholarships including training of diplomats and people-to-people contacts. The two sides resolved to work closely to further strengthen bilateral cooperation and dialogue in multilateral settings including at the United Nations and Economic Cooperation Organization (ECO). Regional and global issues of mutual concern were also discussed including the situation in Afghanistan and in the Indian Illegally Occupied Jammu and Kashmir (IIOJK), it added.

Sharing details of the meeting at a joint press stake-out, Foreign Minister Dar said that the two sides undertook a comprehensive view of bilateral relations in all dimensions. He said the two countries have agreed to intensify joint efforts to further expand and deepen bilateral cooperation including in political, economic and defense domain. “We especially deliberated upon ways and means to develop close economic engagement in the priority areas of trade and investment, energy, connectivity and Information Technology,” Dar said.

He also invited the Turkmenistan’s companies to benefit from investment opportunities in Pakistan, adding that the Special Investment Facilitation Council (SIFC) is facilitating foreign investors to invest in different sectors in the country. Dar added that Pakistan’s seaports offer the business communities of both the countries to explore win-win opportunities. “We welcome businesses and enterprises in Turkmenistan to avail Gwadar and Karachi seaports for trade connectivity with Middle East, Africa and beyond,” he added.

Referring the TAPI gas pipeline and electricity transmission lines projects, he said that these projects offer enormous opportunities for the two countries and the region. “We have decided to promote bilateral parliamentary and cultural exchanges, educational scholarships and people to people contacts,” he added.

The foreign minister said that he also briefed the visiting dignitary about the dismal human rights situation in Indian occupied Jammu and Kashmir. He said that durable peace in South Asia remains contingent on peaceful resolution of Jammu and Kashmir dispute in accordance with UN Security Council resolutions and aspirations of Kashmir people.

In his remarks, Turkmen Minister for Foreign Affairs Rashid Meredov said that relations with Pakistan are one of the priority areas of his country’s foreign policy. “We have expressed the unwavering resolve to implement projects such as TAPI, power transmission lines and Fiber Optic communication,” he said, adding that these will not only strengthen the bond of friendship between the two countries but also exemplify the mutually beneficial partnership.

Copyright Business Recorder, 2024