The 1st Meeting of the Cooperation Council for implementation of ECOTA was held on 21-22 May 2008 at Mersin, Turkey. It was attended by representatives of all the five parties to the Trade Agreement, namely the Islamic Republic of Afghanistan, the Islamic Republic of Iran, the Islamic Republic of Pakistan, the Republic of Tajikistan and the Republic of Turkey along with the representatives of the ECO Secretariat.
The meeting was jointly inaugurated by H.E. Mr. Şevket ILGAÇ, Director General, Undersecretariat of the Prime Ministry for Foreign Trade of the Republic of Turkey and Mr. Khurshid Anwar, Secretary General of ECO.
In his inaugural statement, the Secretary General noted that trade liberalization in the region was the top priority of ECO. Progress made so far on ECOTA had not measured upto expectations but, at long last, it had turned the corner and entered a more challenging phase. He explained that ECOTA was a comprehensive Agreement covering many different aspects of trade. Its implementation would open up vast new opportunities. He also called for revival of the Fast Track Approach for its implementation. He stressed the need to avoid another spell of inaction/deadlock and keep our focus on achieving the goal of trade liberalization in the region.
The Director General, Undersecretariat of the Prime Ministry of the Republic of Turkey, emphasized that implementation of ECOTA would open a new path in regional cooperation. Apart from the direct economic benefits to the member states accruing from increased intra-regional trade, ECOTA would help the members become an integral part of the larger world market. By gradually eliminating non-tariff barriers and lowering the tariffs within the specified time, it would provide a smooth flow of trade in the region. It would make the producers more competitive due to decline in protectionist measures. Every step taken to facilitate intra-regional trade would contribute to the welfare of our people.
The meeting took important decisions, including:
1) The first installment of the Positive Lists containing 10% of the 80% of tariff lines and the Negative/Sensitive Lists comprising 20% of the total tariff lines shall be submitted to the Secretariat by 31st October, 2008. The Contracting Parties would start offering tariff concessions as of 1st January, 2009. The year 2008 would be taken as Base Year for preparing the product lists for tariff reductions.
2) As regards the format of the Positive Lists, it would indicate H.S. Codes, Product Descriptions, Applied (MFN) Tariffs, Margins of Preference for other Contracting Parties (This should not be less than 10% as provided in Article 4 of ECOTA) and Applied Tariffs for ECOTA.
3) As per Article 29 of the Agreement, the representatives of the Contracting Parties for the meeting of Cooperation Council would be at the senior officer level (Joint Secretary/Director General or their equivalent). They will also act as Focal Points for coordination with relevant Ministries/Departments in each Contracting Party.
4) A common understanding would be reached on the Rules of Procedures including the Terms of Reference for smooth functioning of the Cooperation Council before the next Cooperation Council meeting.
5) The Contracting Parties will circulate signatures and impression of stamps of the relevant authorities for issuing ECO Proof of Origin and the addresses of the relevant verification authorities not later than 30th October, 2008.
The 2nd Meeting of the Cooperation Council will be held in Ankara in the last week of November 2008.
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