Karachi, November 11, 2014 (PPI-OT): Mr. Zakaria Usman, president of the ECO Chamber of Commerce and Industry has indicated that a seminar for policy recommendation will be organized in December 2014 in FPCCI Auditorium. The objective of this seminar is to identify the root-causes of inactivity and slow growth in promoting the economic relations among the ECO countries.
After policy dialogues the policy recommendations will be prepared and responsibilities will be determined to remove all barriers in the promotion of strong and sustainable economic relations among the ECO countries.
It is noteworthy that presidency and secretariat of ECO Chamber of Commerce and Industry has been shifted to Pakistan for next three years and now it is responsibility of Pakistan to promote the economic and trade relations among ECO countries.
ECO Chamber of Commerce and Industry is one of the important organs of Economic Cooperation Organization (ECO), which is an inter-governmental regional organization. ECO was originally established as Regional Cooperation for Development (RCD) in 1964 by Iran, Pakistan and Turkey for promoting sustainable socio-economic development of the member states. Then it was renamed ‘ECO’ and expanded to include Afghanistan, Azerbaijan, Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan and Uzbekistan.
Sustainable economic development of the member states through the progressive removal of trade barriers, promotion of intraregional trade, gradual integration of the member states’ economies, development of transport and communications infrastructure linking the member states with each other and the outside world, economic liberalization and privatization, mobilization and utilization of ECO region’s material resources, effective use of the agricultural and industrial potential of the region and strengthening of historical and cultural ties among the peoples of the ECO region are included in the principles aims of Economic Cooperation Organization in its off shoot ECO Chamber of Commerce and Industry.
It is unfortunate that despite several efforts and agreements among the member countries the trade among the members has not increased, even a decline was observed in the last two years. The proposed seminar will identify the causes of inactive and insignificant performance to achieve the objectives.
It is expected that members of business community and diplomats of Turkey, Pakistan, Iran, Afghanistan, Uzbekistan, Turkmenistan, Tajikistan, Kyrgyzstan, Azerbaijan, and Kazakhstan will participate in the event and exchange their views. The core purpose of the seminar is to analyse the economic positioning of ECO countries and their joint economic strength in global context.
For more information, contact:
M. A. Lodhi
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Tel: +92-21-35873691, 93-94