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    • Meeting of the ECO Secretary General with the President ECO-Trade Development Bank to bolster mutual collaboration between ECO Secretariat and ECO TDB
      Meeting of the ECO Secretary General with the President ECO-Trade Development Bank to bolster mutual collaboration between ECO Secretariat and ECO TDB
      A Virtual Meeting was held on 29th December 2021, by the ECO Secretary General, Amb. Khusrav Noziri, with the President of ECO Trade development Bank (ECO-TDB) Mr. Yalcin Yuksel, to discuss collaboration of ECO Secretariat and ETDB to prepare a joint strategy to pursue the goals of expansion in trade and realize the socio-economic development targets set in ECO Vision 2025. The need for a common strategy was stresses by both sides to pursue these targets amid the increased mandate confided on them by the leaders in 15th ECO Summit in Ashgabat.
      The President of the ECO-TDB Mr. Yalcin Yuksel underscored the significance of mutual cooperation and face to face consultation and proposed his visit to ECO Secretariat at the beginning of New Year for deliberating on a joint strategy for effective negotiations to invite the remaining four ECO Member States to join the Bank.
      The Secretary General, Amb. Khusrav Noziri welcomed the proposed visit of the ECO TDB delegation to the Secretariat as good opportunity to discuss collaboration after 32nd Regional Planning Council (RPC) Meeting. He highlighted the novel approach of the Secretariat to implement greater number of projects in various priority areas mandated by the Council of Ministers. He alluded, in his remarks, to the need to increase the contribution of ECO region to the global trade from existing US$ 661 billion and intra-regional trade of US $ 49.8 billion in year 2020, to a level commensurate to its potential. Whilst, appreciating the role of ETDB for fostering and shouldering the process of development of ECO member states, he emphasised the need to strengthen the specialized role of the Bank to finance projects for reviving economic activity; bolstering Micro, Small & Medium Enterprises (MSMEs) and SMEs in the region. On the need for greater partnership for facilitation in financing regional project, he shared the details of ‘ECO Gate’ project for connectivity to harnessing the potential, with substantial contribution from IsDB and invited partnership of ETDB.
      Both sides agree to mull over a joint plan to enhance cooperation on all areas including the increasing membership of the ETDB.
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