Completion Of TAPI To Bring Multiple Benefits To Pakistan's Economy: Turkmenistan Ambassador

Completion of TAPI to bring multiple benefits to Pakistan's economy: Turkmenistan Ambassador

ISLAMABAD, (UrduPoint / Pakistan Point News - 2nd Feb, 2021 ) :Ambassador of Turkmenistan to Pakistan Atadjan Movlamov here on Tuesday said that his country possessed the world's 2nd largest gas reserves and was ready to provide 3000 MW electricity to Pakistan.

The electricity would cost Pakistan almost half of its current energy price helping its industry to achieve better growth, he added while giving a presentation to the business community at Islamabad Chamber of Commerce and 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 fibre line and power transmission line as potential areas of strong cooperation between Turkmenistan and Pakistan and added that materialization of these mega project 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 of a transit trade agreement that would help in promoting trade volume between them.

Speaking at the occasion, ICCI President Sardar Yasir Ilyas Khan 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 also urged the need that Pakistan and Turkmenistan 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 must be encouraged for further promotion of trade and economic relations.

He also urged the stakeholders to 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.