Governor of Sindh Imran Ismail has urged for developing significant trade, investment ties and technological transfers among ECO member countries.
Speaking at 27th Executive Committee meeting of ECO Chambers of Commerce & Industry (ECO-CCI), he said that trade has been a major driver of the economic development and private sector has always assumed leading role in boosting economic activities in national, regional and global economies.
He said that ECO countries possess huge natural and human resources and their joint potentials are more than the European countries. He indicated that the current Government of Pakistan is very much optimistic to enhance its trade and economic relations with Muslim countries.
He invited all the member countries for joint ventures investments in Pakistan and expansion of trade with Pakistan.
President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Engr Daroo Khan Achkazai emphasised on promotion of mutual trade and investment among the ECO countries. He also highlighted intra ECO tariff and non-tariff related issues and their contribution in regional trade. He added that the member countries of the ECO still rely rather heavily on industrialised economies for their exports and imports. He stressed on the implementation of ECOTA, Agreement on Protection & Promotion of Investment, ECO Visa & White card scheme.
President ECO-CCI, Azarakhsh Haifizi emphasised on developing unity among member countries for enhancing trade and other ties. He urged for barter and cross border trade relations among the countries.
Vice President TOBB Selcuk Ozturk stressed upon the importance of the ratification and implementation of ECOTA to increase the respective countries wealth, intra-regional trade and consequently their share in the world trade.
He also underlined the importance to remove the barriers to trade and enhancement of intra-regional cooperation to increase the level of trade. He stated that the global order has been going through a drastic change where almost all of the economic and political developments are being shaped around the ECO region in this aspect, he stressed upon the importance of evaluating this process of change and increasing our cooperation in order to benefit from it.
Iranian representative stated that the ECO member states are of such very significant characteristics in terms of rich natural and human resources that they can expand their collaborations in all areas. He underlined the need to increase cooperation in health, tourism, education and energy sector. He stated that lack of bilateral Preferential Trade Agreements (PTAs) among the member states as well as non-implementation of the ECO Trade Agreement (ECOTA) are of the major reasons for the low intra ECO trade.
Prior to the executive committee meeting, the specialised committee meeting of trade facilitation and industry, investment & SMEs promotion held wherein the ECO investment conference, promotion of Halal industry, harmonisation of visa regime, problems related to SME, promotion of barter trade and opening of border gates, implementation of ECO trade transit agreement, holding of ECO trade facilitation agreement, ECO trade fairs were discussed in detail.
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