3 days ago
Pakistan PM to push for regional trade, energy cooperation at ECO summit tomorrow
ISLAMABAD: Prime Minister Shehbaz Sharif will attend the 17th Economic Cooperation Organization's (ECO) summit in Baku, Azerbaijan from July 3-4, the foreign office said on Wednesday, where he will push for intra-regional trade, connectivity and energy cooperation.
Originally founded in 1964 by Pakistan, Iran and Turkiye, the association now includes member states from South Asia, Central Asia and parts of West Asia and the Caucasus. ECO aims to promote sustainable economic development in the region, aiming at joint welfare and wellbeing of its members.
The ECO region is home to over 460 million inhabitants and expands over 8 million square kilometers of land. It is counted among one of the oldest intergovernmental organizations. Its current members include Pakistan, Turkiye, Iran, Azerbaijan, Tajikistan, Afghanistan, Kazakhstan, Turkmenistan, Kyrgyzstan and Uzbekistan.
'During the Summit, the Prime Minister will share Pakistan's perspective on key regional and global challenges, reaffirm Pakistan's commitment to the ECO Vision 2025, and advocate for enhanced intra-regional trade, transport connectivity, energy cooperation, and sustainable development,' the foreign office said.
The statement said the Pakistani prime minister will also hold bilateral meetings with other ECO leaders on the sidelines of the summit to discuss matters of mutual interest with them.
The development takes place as Pakistan pushes for enhanced regional trade and security cooperation with its allies in the Central Asia, the Middle East and other regions.
Islamabad views trade, energy cooperation and increased connectivity as vital to consolidate its economic gains, especially as it looks to escape a macroeconomic crisis that has drained its resources and caused its foreign exchange reserves to plummet in the past few years.
Sharif's government has repeatedly called for mutually beneficial economic partnerships with regional allies instead of loans.
