CPEC: Pak to become hub for regional trade: PM

ISLAMABAD: Deputy Chairman of Cabinet of Minister and Minister of Foreign Affairs of Turkmenistan, Rashid Meredov calls on Prime Minister Shahid Khaqan Abbasi, here at Prime Minister's Office, Monday. - PID photo

ISLAMABAD: Prime Minister Shahid Khaqan Abbasi says Pakistan is going to become a hub for regional trade and connectivity after completion of China-Pakistan Economic Corridor project.

He was talking to a delegation of International Federation of Freight Forwarders Associations (FIATA) headed by its President Babar Badat in Islamabad on Monday.

He said the CPEC had opened up new vistas of opportunities not only for Pakistan, but for the entire region. Those economic opportunities, he said, must be utilized for creating a win-win situation.

Minister of state for Industries and Production Sardar Muhammad Arshad Khan Laghari was also present during the meeting.

The delegation included Huxiang Zhao, ex-president FIATA, Robert A Voltman, Francesco S Parisi, Ivan Petrov, Basil Pietersen, Turgut Erkeskin and Hans Gunther.

Welcoming FIATA delegation, the prime minister said the growing economy of Pakistan with a growth rate of around 5.5%, offered huge business opportunities in diverse areas including logistics and transport sector.

With an addition of over 1,800 km of six-lane motorways and various other highways and expressways, Pakistan's huge road infrastructure could be utilized by the logistics companies for not only catering to the domestic requirements of a growing economy but of the entire region.

Babar Badat and his delegation said the FIATA was keen to expand its footprints in Pakistan in view of huge business opportunities after the construction of huge road infrastructure under the umbrella of CPEC project.

The prime minister assured the delegation that the government would provide every possible support to FIATA in undertaking profitable business ventures in the country.

Meanwhile, Prime Minister Shahid Khaqan Abbasi on Monday reiterated Pakistan's interest in early completion of energy projects with Turkmenistan and appreciated the progress made on Turkmenistan-Afghanistan-Pakistan-India (TAPI) project. The prime minister was talking to Deputy Chairman of the Cabinet of Ministers and Minister of Foreign Affairs of Turkmenistan Rashid Meredov, who paid a courtesy call on him here.

The Turkmen foreign minister was accompanied by Charymyrat Purchekov Minister of Energy, Myrat Archayev, State Minister of Turkmen Gas and Muhammetmyrat Amanov Chairman of the Board, CEO TAPI Pipeline Company Limited.

Foreign Minister Khawaja Muhammad Asif was also present during the meeting. The Turkmen foreign minister conveyed the greetings of President Gurbanguly Berdimuhammedov to the prime minister. He briefed the prime minister on the present status of TAPI Gas Pipeline Project and other energy projects including proposals for electricity transmission line and fiber optic connectivity.

He invited Pakistani companies to participate in the tenders floated by Turkmenistan for TAPI.

The foreign minister informed the prime minister of the Turkmen government's policies that allowed foreign investors to invest in Turkmenistan. In this regard, he said Turkmenistan government would welcome Pakistani participation in projects related to the petrochemical industry.

The two sides also agreed to expedite connectivity projects between the two countries including roads and rail linkages to increase trade between the two brotherly countries.

The foreign minister invited the prime minister to visit Turkmenistan at his earliest convenience, which the prime minister accepted.

Foreign Minister Meredov is visiting Islamabad from January 15-16, 2018 on the invitation of Foreign Minister Khawaja Muhammad Asif to participate in the inaugural session of Pakistan-Turkmenistan Bilateral Political Consultations (BPC) held earlier today. - NNI