Ambassador of Turkmenistan to Pakistan Atadjan Movlamov has said that his country possesses the world’s second largest gas reserves and is ready to provide 3000 MW electricity to Pakistan, which would cost Pakistan almost half of its current energy price helping its industry to achieve better growth.
He said this while giving a presentation to the business community at Islamabad Chamber of Commerce & Industry (ICCI) on potential areas of bilateral cooperation between Turkmenistan and Pakistan.
He identified 1840 Km TAPI (Turkmenistan-Afghanistan-Pakistan-India) gas pipeline, 1635 Km optic fiber line and power transmission line as potential areas of strong cooperation between Turkmenistan and Pakistan and added that materialization of these mega projects would bring multiple benefits to the economy of Pakistan. He said that Turkmenistan would start construction of the TAPI gas pipeline this year up to the Herat Province of Afghanistan. He said Turkmenistan could also supply LPG to Pakistan. Atadjan Movlamov said that Turkmenistan was waiting for the visit of Pakistani business community after the Covid-19 pandemic to explore new avenues of bilateral cooperation between the two countries. He said that lack of direct trade between Pakistan and Turkmenistan was a major hurdle in promoting two-way trade volume. He said that being a landlocked country, Turkmenistan considered Gwadar port and Karachi port very important to promote its trade and exports with other countries. He said that Afghanistan provided the shortest trade route to Pakistan for Turkmenistan and establishment of peace in Afghanistan would enable both countries to promote bilateral trade up to their actual potential.
He said that Pakistan was poised to become a hub of economic activities in the region and Turkmenistan was keen to strengthen its trade ties with it.
He said that Pakistan, Afghanistan and Turkmenistan should consider signing a transit trade agreement that would help in promoting trade volume between them. Speaking at the occasion, Sardar Yasir Ilyas Khan, President, Islamabad Chamber of Commerce & Industry (ICCI) said that current level of bilateral trade between Pakistan and Turkmenistan was much less than the potential of both countries, therefore, both should focus on developing strong business linkages between their private sectors to improve bilateral trade. He said that Pakistan and Turkmenistan should consider signing a free trade agreement to address hurdles and increase trade ties.
He said that regular exchange of business delegations and organizing trade exhibitions on reciprocal basis should be encouraged for further promotion of trade and economic relations. He said that all stakeholders should make strenuous efforts to establish peace in Afghanistan that would open a short route for Pakistan to Central Asian countries.
He said that after the coronavirus, ICCI would consider taking a delegation to Turkmenistan to explore new avenues of bilateral cooperation.
Fatma Azim Senior Vice President, Vice President ICCI, Mian Shaukat Masud and others also shared useful ideas for further improving bilateral trade ties between Pakistan and Turkmenistan.
Uzbekistan:
Pakistan and Uzbekistan have resolved to enter into Preferential Trade Agreement (PTA) for increasing the bilateral trade and promote trade liberalization on both sides. The two sides also discussed to revive the Joint Business Council, and assured that bilateral engagements like Inter Governmental Commission will be held more frequently, said a press release issued here.
The Advisor to the Prime Minister on Commerce and Investment, Abdul Razak Dawood, leading a delegation to the Republic of Uzbekistan and held bilateral trade negotiation with Uzbekistan to enhance the trade volume between both sides.
The visit is a follow-up to the visit of the Deputy Prime Minister of the Republic of Uzbekistan, Dr. Sardor Umurzakov in last September 2020.
Apart from Razak Dawood, the delegation includes officials of Ministry of Commerce and other related ministries and departments.
The first meeting of Joint Working Group on Trade and Economic Affairs and the meeting of Tripartite Working Group on the Implementation of the Trans-Afghan Railway Project held from February 1st to February 4th, 2021. During the 1st meeting of the Joint Working Group, both sides expressed their desire to enhance bilateral trade relations between the two countries.
In this regard, the two sides discussed Streamlining Bilateral Phytosanitary Standards, enhancing Banking Cooperation, working on Rail and Road connectivity matters and establishment of off dock terminal. Both side also discussed the possibility of establishment of Joint Cargo Company by private sector, which can mitigate connectivity issues.It was highlighted in the meeting that private sector is quintessential for bilateral trade, therefore the two sides resolved to have cooperation in shipping, textile, engineering and IT sectors.
The Uzbek side invited Pakistan Business Delegation to organize a Joint Exhibition in Tashkent in June, 2021. The Advisor called on the President of Uzbekistan Shavkat Mirziyoyev and discussed with him matters related to economic cooperation between the two countries. He also met the the President of the Chamber of Commerce and Industry of Uzbekistan Adkham Ikramov and discussed cooperation in textile, leather and Engineering Sector with him.