The Coordination Meeting between the representatives of ECO Secretariat and the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) was held virtually on February 13, 2024 to exchange views on advancement of the ECO Regional Electricity Market (ECO-REM) and streamline a way forward.
UNESCAP made a briefing on the schedule of activities within the Project “Energy connectivity for sustainable development”, which is expected to support the Feasibility Study of ECO-REM. This project covers all 10 ECO Member States with the ultimate goal to deliver a set of targeted and actionable recommendations for policy and regulatory reforms that would enable the establishment of multilateral, multi-directional power trading where there is existing cross-border transmission infrastructure.
The representatives of ECO Secretariat expressed conviction that ECO-UNESCAP partnership will pave the way for launching and seamless development of ECO-REM. They further emphasized that “ECO Work Programme 2024” appreciated this engagement with UNESCAP and called on ECO Member States to pursue proactive partnership within ECO-REM Project.
Both sides highlighted the need for a continuous dialogue among ECO Member States with a view to define further steps on means of shaping the regional electricity market. The participants also acknowledged the importance of monitoring the progress of implementation in close coordination.
