ISLAMABAD: Turkmenistan Foreign Minister Rasit Meredow will undertake a two-day visit to Pakistan from July 22-24, the foreign minister said on Friday, as the South Asian state pushes to boost trade with Central Asian states.
Pakistan hopes to leverage its strategic geopolitical position and enhance its role as a pivotal trade and transit hub connecting the landlocked Central Asian republics with the rest of the world. In recent months, there has been a flurry of visits, investment talks and economic activity between Pakistan and Central Asian states, including meetings with leaders from Uzbekistan and Azerbaijan.
“Foreign Minister Rasit Meredown will visit Pakistan from July 22-24,” foreign office spokesperson Mumtaz Zahra Baloch said during a weekly press briefing on Friday. “He will hold extensive talks with Deputy Prime Minister and Foreign Minister Ishaq Dar and also call on the Pakistan leadership.”
The talks would cover “all aspects of bilateral relations” as well as regional and global developments, the FO added.
Located in a landlocked but resource-rich region, Central Asian countries need better access to regional markets including Pakistan, China, India, and the countries of West Asia. Meanwhile, Pakistan has huge energy demands that can be satisfied by growing trade with Central Asia. The China-Pakistan Economic Corridor project, in which Beijing has pledged around $65 billion in energy, infrastructure and other schemes in Pakistan, also presents a strategic opportunity for Central Asian states to transport their goods more easily in regional and global markets.
Islamabad is seeking to bolster trade and investment relations with allies to stabilize its fragile $350 billion economy as it faces an acute balance of payment crisis amid soaring inflation and surging external debt.
Last week, Pakistan and the International Monetary Fund (IMF) reached an agreement for a $7 billion, 37-month loan, capping negotiations that started in May after Islamabad completed a short-term, $3 billion program that helped stabilize the economy and avert a sovereign debt default.
