1^st Meeting of ECO Insurance Experts’ Group

(Tehran/ September 6-7, 2005)

ECO Secretariat, Tehran, September 8, 2005

Press Release

The 1^st Meeting of ECO Experts’ Group was held at the Central Insurance of Iran in Tehran on September 6-7, 2005. The representatives from the Islamic Republic of Afghanistan, Republic of Azerbaijan, Islamic Republic of Iran, Republic of Kazakhstan, Islamic Republic of Pakistan, Republic of Tajikistan and Republic of Turkey as well as the ECO Secretariat delegation participated in the meeting.

In this meeting the participating delegations presented their reports of insurance facilities and regulations in their respective countries. They emphasized on the necessity of establishing a common insurance coverage scheme applicable to the all ECO member states aiming at facilitation of the smooth movement of carriers in the region.

ECO Secretariat briefed the Meeting on the background of holding such meeting and its relevance with the Transit Transport Framework Agreement (TTFA) and its Annexes which suggest establishment of an ECO Interim Motor Vehicle Third Party Liability Insurance Scheme. In this briefing the role of Bimeh Markazi Iran (Central Insurance of Iran) in providing the initial Draft Agreement for implementation of Annex V of TTFA was also explained.

The Iranian delegation suggested that since Iran is geographically located in the center of ECO region and has an important role in transit transport in the region and was initiator of providing a unified Third Party Liability Insurance Scheme and also prepared the relevant Draft Agreement, the Central Bureau of the Motor Vehicles Third Party Liability Insurance of ECO be established in Tehran and organized by Bimeh Markazi Iran (Central Insurance of Iran). This idea was supported by some of the participating delegations.

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