An ECO delegation headed by H.E. Amb. Khusrav Noziri, Secretary General of the Economic Cooperation Organization (ECO) participated in the 29th Executive Committee Meeting & 19th General Assembly Meeting of ECO-CCI, on March 7, 2022, in virtual mode.
At the outset, while thanking the President ECO CCI for invitation and welcoming the delegates, the ECO Secretary General, stated that trade has been a major driver of the economic growth and private sector has always assumed leading role in boosting economic activities at regional level leading to socio-economic development of half a billion people of the region, by creating more jobs and alleviating poverty, in line with targets set in the ECO Vision-2025. He apprised that the leadership of ECO has firmly affirmed their commitment for regional integration, as reflected in the outcome document of 15th ECO Summit ,کAshgabat Consensus for Action’.
The ECO Secretariat has always attached greater importance to a healthy collaboration among private sectors in the region, said Amb. Noziri, stating that private sector involvement through their representative body i.e. ,کECO CCI’ is ensured in the initiatives for harmonization of policies and other programmes contemplated by the Member States. The trade facilitation measures will further boost these productions, enabling additional competition at global levels. He further informed the Forum about important ECO events held in 2021 and expressed his continued support for future events to be fruitful in 2022.
Whilst apprising the participants about the acknowledgment of the Transport Ministers of the ECO Member States about the role of private sector in development of transport, during the Ministerial Meeting on 2nd February 2022, the Secretary General ECO invited ECO CCI to contribute in implementation of the ,کECO Transport Excellence Award’, approved by the Ministers to recognize and appreciate the best performing transport companies, associations and other related stakeholders in road, railways, maritime and civil aviation.
He emphasized that Post Covid-19 economic recovery of the ECO Region depends upon expanded intra-regional trade, which can be achieved with a proactive role of the National Chambers of the ECO Member States through a more productive coordination with their respective governments for taking concrete steps in implementation of preferential trade regime in the region by trade liberalization under ECOTA; trade facilitation under the Trade Facilitation Strategy/Trade Facilitation Agreement, collaboration among the ECO Zones; to reduce costs involved of trade in the region, attracting more investment to set up Regional Value Chains (RVCs). Whilst alluding to ratification of the “Agreement on Promotion and Protection of Investment (APPI)” by four ECO Member States, he hoped that it will be operationalized very soon to bolster the confidence of investors in the regional regulatory framework to promote investment. Operationalization of the ECO Reinsurance Company (ERIC), he informed, is also expected sooner, which is essential for secure trade in the region.
While concluding, he shared a hope that the Specialized, Executive Committee and General Assembly meetings of the ECO-CCI would be productive and result-oriented, benefiting the Member States and the region by providing guidelines to pave the way for a bright future.
It is pertinent to mention that ECO-CCI was founded by the Union of Chambers and Commodity Exchanges of Turkey, Iran Chamber of Commerce, Industries and Mines, and Federation of Pakistan Chambers of Commerce and Industry, in 1990, to promote commercial, industrial and economic cooperation among Member States. Today ECO-CCI has Ten Members.