Tehran – December 11, 2024
The Turkish Minister of Trade, Prof. Ömer Bolat, arrived in Tehran to attend the Iran-Türkiye Joint Economic Committee meetings. Minister Bolat held his first meeting with the Secretary General of the Economic Cooperation Organization Dr. Asad Majeed Khan, during his visit.
The Turkish delegation comprised high-ranking officials, including the Turkish Ambassador to Tehran H.E. Mr. Hicabi Kırlangıç; Deputy Trade Minister Mr. Mustafa Tuzcu; and the President of the Foreign Economic Relations Board Mr. Nail Olpak. On the ECO side, Deputy Secretary General Mr. Emrah Ongut, ECO Director of Trade& Investment Mr. Zahid Hussain Abbasi, Chief of Staff Mr. Osman Gündoğdu, and Program Officer Mr. Mehmet Cetik participated in the meeting.
In his opening remarks, Secretary General Khan emphasized the critical importance of the ECO Trade Agreement (ECOTA) for fostering intra-regional trade. Highlighting ongoing efforts, he informed the delegation about the Secretariat’s efforts to finalize the ECOTA research study, and develop a roadmap for updating ECOTA’s modalities to ensure broader benefits for Member States. Dr. Khan also underlined the need for more frequent ECO Trade Ministers’ meetings, noting that only four have been held to date.
Minister Bolat underscored Türkiye’s commitment to enhancing multilateral economic cooperation through platforms like ECO. He highlighted the country’s trade growth with ECO Member States, which has more than doubled between 2020 and 2023, and expressed readiness to host the 5th ECO Trade Ministers’ Meeting in Ankara in June 2025.
The discussions also focused on reducing trade barriers, enhancing connectivity, and addressing logistical inefficiencies, such as improving railway systems between Iran and Pakistan. Both leaders emphasized the importance of streamlining customs procedures and organizing regular working group meetings to address trade facilitation and customs cooperation.
Secretary General Khan recognized Türkiye’s leadership role, noting that it contributes 63% of the ECO region’s total exports. He called for Türkiye and the Secretariat to organize additional business forums to showcase the benefits of regional economic cooperation. Minister Bolat agreed, highlighting the potential for such initiatives to drive ECOTA’s implementation and foster greater economic integration.
Other topics included the development of a long-term roadmap to reduce barriers to the free movement of goods, capital, and persons within the ECO region, with reference to the European Union integration. Minister Bolat also referenced Türkiye’s success in increasing intra-Muslim trade and reiterated the need for more frequent Ministerial and Deputy Ministerial meetings within ECO.
Both leaders expressed optimism about ECO’s potential to strengthen regional economic ties and enhance cooperation. The meeting set the stage for deeper collaboration, with a focus on actionable outcomes for the upcoming ECO Summit in Azebaijan on July 3-4, 2025.
