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Money Matters Pakistan > Blog > Pakistan Regional Trade & Ties > Pakistan and Turkmenistan agree to expedite a transit trade agreement & liberalize visa policies
Pakistan and Turkmenistan agree to expedite a transit trade agreement & liberalize visa policies
Pakistan Regional Trade & Ties

Pakistan and Turkmenistan agree to expedite a transit trade agreement & liberalize visa policies

Money Matters
Published July 23, 2024
3 Min Read

Key Takeaways:

– Emphasis on deepening cooperation in trade, investment, energy, and IT.

– Progress reviewed on TAPI gas pipeline and electricity transmission projects.


Bilateral Political Consultations in Islamabad

Pakistan and Turkmenistan have committed to diversifying trade, finalizing a transit trade agreement promptly, and adopting a more liberal visa policy to foster business interactions. This agreement was reached during the third round of Bilateral Political Consultations held in Islamabad. Deputy Prime Minister and Foreign Minister Ishaq Dar led the Pakistani delegation, while Turkmenistan’s Foreign Minister Rasit Meredow represented his country.

Expanding Bilateral Cooperation

At a joint press briefing, Foreign Minister Ishaq Dar shared that both nations conducted a thorough review of their bilateral relations across various sectors. They agreed to strengthen cooperation in political, economic, and defense areas, with a particular focus on trade, investment, energy, connectivity, and information technology.

Both sides reviewed the status of the TAPI gas pipeline and electricity transmission line projects, acknowledging the immense opportunities these initiatives present for both nations and the region.

Investment Opportunities and Trade Connectivity

Dar invited Turkmenistan’s businesses to invest in Pakistan, highlighting the role of the Special Investment Facilitation Council in assisting foreign investors. He emphasized that Pakistan’s seaports, Gwadar and Karachi, offer significant trade connectivity opportunities for businesses in Turkmenistan, facilitating access to the Middle East, Africa, and beyond.

Progress on Major Projects

Both sides reviewed the status of the TAPI gas pipeline and electricity transmission line projects, acknowledging the immense opportunities these initiatives present for both nations and the region. The discussions also included plans to enhance parliamentary and cultural exchanges, educational scholarships, and people-to-people contacts.

Human Rights and Regional Peace

Foreign Minister Ishaq Dar briefed his counterpart on the human rights situation in Indian-occupied Jammu and Kashmir, stressing the importance of resolving the Kashmir dispute peacefully in line with UN Security Council resolutions and the aspirations of the Kashmiri people.

Turkmenistan’s Commitment

Turkmenistan’s Foreign Minister Rasit Meredow highlighted that relations with Pakistan are a priority for Turkmenistan’s foreign policy. He expressed a strong commitment to implementing projects like TAPI, power transmission lines, and Fiber Optic communication, which are expected to enhance the strategic partnership and friendship between the two countries. Meredow also emphasized the importance of creating international transport routes to maximize the transit potential of both nations.

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TAGGED:Money Matters PakistanPakistan economyPakistan Turkmenistan bilateral cooperationPakistan Turkmenistan tradeTAPI gas pipeline
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