The 2nd ECO Trade Fair was held in Karachi, Pakistan on July 23-26, 2008. On its sideline were held meetings of the 12th Executive Committee and 9th General Assembly as well as the 3rd Business Forum and Buyers and Sellers Meetings. It was attended by delegates from the Islamic Republic of Iran, the Republic of Kazakhstan, the Kyrgyz Republic, the Islamic Republic of Pakistan, the Republic of Tajikistan and the Republic of Turkey along with the representatives of the ECO Secretariat.
The Fair was opened by the President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Mr. Tanvir Ahmed Sheikh. Present on the occasion were representatives of the all participating ECO member countries and the ECO Secretariat. The Executive Committee, the General Assembly and the Business Forum meetings were inaugurated by Mr. Rifat Hisar Ciklioglu, Chairman of the ECO Chambers of Commerce and Industry (ECO-CCI)/President of the Union of Chambers and Commodity Exchange of Turkey (TOBB). In his inaugural addresses, he dilated on the importance of promoting cooperation among the private sectors of the member states. He explained ECO-CCI's efforts in that direction and made proposals for the improvement of such cooperation.
Mr. Tanvir Ahmed Sheikh, President of FPCCI, briefed the delegates on the world economic scenario and the role of ECO countries. He stressed the need for active cooperation among the private sectors of ECO countries and suggested measures for the ECO-CCI to strengthen economic relations among the ECO member states.
In his statement, Mr. Waqar Ahmad Shah, Director, Trade and Investment of ECO Secretariat explained the efforts of the ECO Secretariat to bring the private sectors of member states further closer. His statement covered trade liberalization measures, the status of different agreements and progress in trade facilitation and other fields.
The 12th Executive Committee unanimously recommended the final draft statute to the 9th General Assembly for approval. It agreed to have an ECO-CCI Women Entrepreneur Council with three nominees from each member state. The Secretary General of ECO-CCI, presented the progress report of the ECO-CCI. The meeting agreed to the proposal of ECO-CCI regarding the participation of its delegation in the activities of Euro Chamber's Global Chamber Network.
The 9th General Assembly approved recommendations of the Executive Committee, including the establishment of a Women Entrepreneur Council and the representation of ECO-CCI at Euro Chamber's Global Chambers Network. The General Assembly also approved signing an MoU between ECO and SAARC-CCI for mutual cooperation. The MoU was signed on 24th July 2008. The General Assembly was given presentations by representatives of the ECO Secretariat and the ECO Trade and Development Bank on ECO Trade Agreement (ECOTA), the Agreement on Promotion and Protection of Investment (APPI) and the ECO Trade and Development Bank.
The 3rd ECO Business Forum recommended an awareness programme for ECO to highlight different aspects of brand names, trade marks and labeling. It requested the Secretariat to assist in popularizing brands of regional manufacturers. It stressed the need to identify sectors for investment. The Forum urged the Secretariat to organize events, especially auto parts show in the member states. The ECO-TDB was requested to help with the development of Small and Medium Enterprises (SME's) and to prepare a plan for that purpose.
The participants of the Buyers Sellers meeting discussed prospects of imports and exports as well as investment and joint ventures in the field of auto industry. The businessmen attended the ECO events in Karachi utilized the opportunity to negotiate business deals. It has been agreed that such events would be held more frequently, more regularly and by rotation among the member states.
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