1. The 1st Meeting of ECO High Level Experts Group on Privatization and Private Sector Development was held in Islamabad, on 10-11 April 2007. The Meeting was hosted by the Privatization Commission, Ministry for Privatization & Investment of the Islamic Republic of Pakistan.
2. Delegates from Afghanistan, Azerbaijan, Iran, Kazakhstan, Kyrgyz, Pakistan, Tajikistan, Turkey, Turkmenistan and Uzbekistan as well as representatives of the ECO Secretariat participated in the Meeting.
3. H.E. Zahid Hamid, Minister for Privatization and Investment of the Islamic Republic of Pakistan, inaugurated the Meeting. He summarized privatization activities of his country in the last 15 years. He expressed hope that the delegates would have very useful and constructive discussions and that the Meeting would be very successful.
4. Mr. Mustafa Demirezen, Deputy Secretary General of ECO Secretariat delivered his welcome statement expressing that the shift in economic strategies towards free-market economies increased emphasis on the private sector development and the need for integration with global economy.
5. The Meeting considered devising a strategy for cross country investment and for inviting each other for tender / public notices of privatization and decided to establish a working group comprising Azerbaijan, Iran, Pakistan, Turkey and ECO Secretariat to study the details of establishment of a website on privatization related matters in ECO member states. The member states will submit their proposals on establishment of ECO website on privatization preferably by July / August 2007 to ECO Secretariat. Afterwards the technical aspects of the ECO website can be discussed by the Working Group scheduled for October 2007 in Tehran.
6. The meeting decided that the website of each member state would host Ordinances, Rules and Regulations, Laws and procedures on privatization, especially the case studies and experiences, which would be accessible by the member states. The member states shall compile a list of investor(s) / consortium of investors as well as investment bank(s) / financial institution(s) to which the member states can issue tender / public notices of privatization and convey to ECO Secretariat for hosting at its website.
7. Regarding the implementation of the Plan of Action on Privatization, the member states requiring capacity building may request ECO Secretariat to coordinate the member states for arrangement of technical assistance or on job training. ECO Business Council, establishment of which was proposed during the 2nd Meeting of HLEG on Industry, may be pursued for its realization which would help the member states in their efforts related to privatization.
8. Turkey declared its readiness to host the 2nd ECO Meeting of HLEG on Privatization in the first half of 2008.
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