An ECO delegation headed by H.E. Ambassador Khusrav Noziri, Secretary General of the Economic Cooperation Organization (ECO), participated in the Plenary Session of the 21st Annual Meeting of the Board of Governors of the ECO Trade and Development Bank (ETDB) on June 21, 2022, in virtual mode.
In his statement, the ECO Secretary General thanked the bank’s management for financing the ECO’s priority projects keeping in view the monetary needs of the Member States amid the difficult financial situation in post Covid-19 period. He conveyed that the ECO Vision-2025 has set the targets of doubling intra-regional trade and increase contribution of the ECO region to global trade, especially exports by tapping regional potential. He highlighted the ECO Contribution to global trade and the meager share of intra regional trade among the ECO Countries and briefed about the efforts made by the Secretariats to effectuate ECOTA. The Secretary General also shared the details of prominent ECO Projects in the fields of Trade, Energy and Tourism to diversify economies for a sustained growth and socio-economic development of half a billion people of the region.
Ambassador Khusrav Noziri further enlightened the participants on different initiatives, the Secretariat is pursuing with International Partners like IsDB, UNIDO and UNCTAD, to ameliorate its cooperation. He invited the Bank to join the Secretariat for efficient translation of these initiatives into bankable projects, in line with the declaration of the 15th ECO Summit, namely ,کAshgabat Consensus for Action’, wherein the leaders of ECO entrusted the task to the Secretariat and the Bank for greater collaboration to shoulder more proactively their role in supporting and financing ECO projects, forging cooperative ties with international development partners.
The event’s proceedings commenced with welcome remarks by the ETDB’s honourable President, H.E. Mr. Yalçؤ±n Yüksel, and the honourable Chairman of the ETDB’s Board of Governors Mr. Abdul Qaher Haji Edris. Mr. Qaher hailed the strewn and positive role played by ETDB and expressed his hope for its continuation for the wellbeing of the people of ECO region.
The ETDB was established on 3 August 2005 with its headquarters located at Istanbul, Turkey and started its operations in 2008.
