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The Economic Cooperation Organization (ECO) is an intergovernmental
organization which was originally established in 1985 as a trilateral
Regional Economic Cooperation Organization between Iran, Pakistan and
Turkey. It is the successor organization of the Regional Cooperation for
Development (RCD) which was formed between the three mentioned countries
and remained active since its inception from 1964 up to 1979. With
accession of seven new countries, ECO was expanded to 10 Member States.
Countries namely Afghanistan, Azerbaijan, Kazakhstan, Kyrgyzstan,
Tajikistan, Turkmenistan and Uzbekistan joined ECO on 28 November 1992.
This day that is marked with the expansion of ECO from a trilateral
regional cooperation into a 10 members states organization is being
celebrated each year as the ECO Day.
Completing 13 years of
its life, ECO has been successful in promoting multidimensional regional
cooperation and creating proper conditions for sustainable socio-economic
growth and development. ECO has been trying to expedite implementation of
its goals and objectives as enshrined in its basic documents especially
the Treaty of Izmir. The core of these objectives has been to ensure
sustained economic development of the region by overcoming all physical
and non- physical as well as legal and procedural impediments wherever and
whenever prevails in the region. In line with its objectives, ECO has come
up with many projects in the areas of Transport and Communications, Trade
and Investment, Energy, Mineral and Environment, Agriculture, Health and
Industry and has taken concrete steps in various fields of common interest
to put forward constructive measures to obtain full advantages of new
opportunities in the region.
Envisaging a Free Trade
Area in the region by 2015, establishment of ECO Development Bank and
finalization of ECO Trade Agreement (ECOTA) are just a few instrumental
agreements for the promotion of regional cooperation among ECO member
states. ECO Trade Agreement (ECOTA) which has already been adopted by 5
ECO member states. ECOTA would lead to gradual and definite removal of
tariff and non-tariff barriers and brighten the prospects of intra-
regional trade among the ECO Member States. Tapping the vast natural
resources and economic potential of ECO region through involvement of the
private sector in an important challenge for our organization and we hope
ECOTA would provide the ground for economic liberalization and
privatization, mobilization and utilization of ECO region's material
resources and gradually establishing a Free Trade Area in the region by
2015.
ECO Council of Ministers
at its 15th meeting held recently in Astana, Republic of Kazakhstan,
adopted “ECO Vision 2015” which was suggested by the 8th ECO Summit on 14
September 2004 in Dushanbe. ECO Vision 2015 is a strategy in promotion of
intra-regional cooperation and enhancement of sustainable economic and
social development in ECO region and it will serve as a guideline for the
future plan and program of ECO to bring this organization in conformity
with the role that it should play as a dynamic regional organization
capable of leading its Member States.
ECO has enjoyed decent
funding and technical support of several international donors such as
Islamic Development Bank, Food and Agricultural Organization and United
Nations Development Program. Furthermore, it has signed more than 15
Memorandum of Understanding with different international organizations and
continues to have a very close working relationship with United Nations
and its related bodies.
ECO has been transformed
into a major regional cooperation organization and, undoubtedly, it would
achieve its goals with the support of its member states. Today, our
Organization has gained momentum to revitalize itself in the international
arena and will continue its development towards new heights to serve as a
more effective instrument in the interests of its members
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