Economic Cooperation Organization

In order to discuss ways and means to enhance cooperation among ECO and its Member States, on 4th July 2017 the ECO Secretary General Ambassador Halil Ibrahim Akca called on, H.E. Mohammad-Reza Nematzadeh, the Minister for Industry, Mine and Trade of the Islamic Republic of Iran.

In his remarks, the ECO Secretary General ECO appreciated the active participation of the Islamic Republic of Iran in the ECO events. He informed that the ECO Vision 2025 was approved in the 13th ECO Summit and 22nd COM meetings earlier this year. He further highlighted that amongst the priority areas of the Vision, trade continues to be the central theme of the Organization. Secretary General expressed hope for support from the Honourable Minister in implementation of trade-related components of the ECO Vision 2025. He also emphasized on the importance of trade facilitation measures and removal of trade barriers and requested the Minister for his support in operationalization of tariff concessions under the ECO Trade agreement (ECOTA), the flagship initiative of the Organization. He was of the view that improved cooperation in this area, will lead to meaningful dividends for the Region and will usher in prosperity for the people of the Member States.

In his welcoming remarks, the Honourable Minister underscored the importance and vast potential of regional cooperation and assured ECO Secretary General of his cooperation in expediting the efforts for constructive engagement to enhance intra-regional trade for economic development of the Region. He further assured that his team would look at the various options for early operationalization of tariff concessions under ECOTA. He also emphasized on the importance of banking and other trade-support services for enhancing intra-regional trade and stressed that increased regional cooperation in the banking sector will decrease transaction costs leading to decreased costs of doing business for the private sector.

The ECO Secretary General also extended an invitation to the Minister to attend the 5th ECO Ministerial Meeting of Commerce and Foreign Trade to be held in the Islamic Republic of Pakistan during the second half of 2017.