ECO and ASEAN have signed a Memorandum of Understanding (MoU)

ECO Secretariat, Tehran

18 January 2006 

Press Release

            The Economic Cooperation Organization (ECO) and the Association for South East Asian Nations (ASEAN) have signed a Memorandum of Understanding on 18^th January 2006.  The Memorandum of Understanding signed by H.E. Mr. Askhat Orazbay, Secretary General of the Economic Cooperation Organization (ECO) and H.E. Mr. Ong Keng Yong, Secretary General of the Association of South East Asian Nations (ASEAN) at the headquarters of the two organizations in Tehran and Jakarta respectively.

            The Memorandum of Understanding envisages cooperation between the two organizations in the fields of trade and investment, narcotics control, development of Small and Medium-sized Enterprises (SMEs) and tourism through exchange of information and experiences.

            In trade and investment fields, the two sides will exchange information on implementation of ASEAN Free Trade Area (AFTA) and Economic Cooperation Organization Trade Agreement (ECOTA), prevailing rules and practices, trade and investment promotional activities, development of customs reforms and procedures. 

In the field of narcotics control, the two organizations will exchange information on national laws, regulations and practical matters between ASEAN and ECO to suppress illicit drug trafficking and promote projects/activities on drug matters, promote civic awareness on the danger of drugs, etc. 

In the field of SMEs, the two sides will share data concerning the business environment and requirements in the two regions, including the development of business registries and database for inter-firm networking purposes, and the facilitation of networking trade missions involving SME entrepreneurs from the two regions. 

In the field of tourism, the two sides will cooperate with each other to develop tourism infrastructure and facilities in ASEAN and ECO, encourage the involvement of private sector and tour operators, travel writers with the tourism potential of regions and identify investment opportunities in tourism in ASEAN and ECO.

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