Turkmenistan’s Foreign Minister, Rasit Meredow, will undertake a two-day visit to Pakistan from July 22-24, as Pakistan aims to boost trade with Central Asian states, according to a statement made by the Foreign Minister on Friday.
Pakistan seeks to leverage its strategic geopolitical position to 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 surge of visits, investment talks, and economic activity between Pakistan and Central Asian states, including meetings with leaders from Uzbekistan and Azerbaijan.
“Foreign Minister Rasit Meredow will visit Pakistan from July 22-24,” foreign office spokesperson Mumtaz Zahra Baloch announced during a weekly press briefing on Friday. “He will hold extensive talks with Deputy Prime Minister and Foreign Minister Ishaq Dar and will also meet with Pakistan’s leadership.”
The discussions will cover “all aspects of bilateral relations” as well as regional and global developments, the FO added.
Central Asian countries, located in a landlocked but resource-rich region, need better access to regional markets, including Pakistan, China, India, and West Asian countries. Meanwhile, Pakistan has significant energy demands that can be met through increased trade with Central Asia. The China-Pakistan Economic Corridor (CPEC) 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, which faces an acute balance of payments 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, concluding negotiations that began in May after Islamabad completed a short-term, $3 billion program that helped stabilize the economy and avert a sovereign debt default.
