ECO

"Coming together is a beginning: keeping together is progress; working together is a success " 

                                                 Herrg forrd.              Introduction.     

 Eco stands for economic corporation organization.    It is an intergovernmental regional organization established in 1985 by Iran, Pakistan, and Turkey. Ten countries are members of ECO: Afghanistan, the Republic of Kazakhstan, Tajikistan, Turkey, Turkmenistan, and Uzbekistan.      

History.   

•  Eco is the successor organization of the Regional Cooperation for Development (RCD).         
• It existed from 1974 to 1979. 
• It included seven new members.
•  RCD was reborn and converted into ECO.       
•  Aim and objectives.      
•   To enhance the economic development of member countries.    
• Improvement in living and quality of life.     
•  Improvement to social and cultural Harmony to inter-regional trade.      
• Improve transport and communication infrastructure to link eco countries with one another.  
• Initiatives for human resources progress.
•  Initiatives for industrial and agriculture
• To find new trade markets.  
•   sharing material resources.              Structure of ECO.    

 Different directorates were found under ECO.     Directors for business, trade, investment, mineral, agriculture, and communication.

Eco targets are categorized in three ways; trade facilitation activities, development in the energy sector, and improvement in transport and infrastructure.

Through these institutions and agencies many trade agreements developed among Eco members. 

  1. Eco trade agreement (ECOTA). 

 2.  Transit trade agreements TTA. 

3. Transit Transport Framework Agreement (TTFFA) 

4th meeting 

 In the 4th meeting of the Council of Heads of Customs Administration (CHCA). An agreement text Eco Smuggling and Customs Offense Data Bank was finalized in May 2005, signed by Afghanistan, Pakistan, and Turkey.

The institutional framework of ECO 

1. Summit and council of ministers.

2. Ministerial meeting on foreign trade and a ministerial meeting on economy and finance.

3. Meeting of experts and officials

4. specialized institution 

5. provide strategic guidance for trade and economic corporation

6. Make major decisions for trade and economic cooperation.

7. Discuss technical matters.

8.  .ECOTDB

      .RISCAM

      .etc

Trade facilitation activities of ECO 

1. Eco-member countries are located closely.

2. they have close cultural and historical links.

3. they have 6.8% of the world's crude oil.

3. During the 1998-2002 period trade increased, and exports reached a peak and touched us 94.6billion.

4. By 2004-6 about 215 regional trade agreements were functioned and 300 were in the pipeline.

Eco trade strategy is based on the following key pillars.

1. Trade liberalization

2. trade facilitation 

3. trade promotion

4. WTO accession

5. private sector corporation

6. regional connectivity

7. trade financing

ECO trade expansion approach 

Legal instruments include eco trade agreement ECOTA, customer, cooperation agreement transit transport framework agreement, agreement on promotion and protection of investment, and TFA.

Overcoming supply-side constraints through sharing trade capacity building in specific areas, understanding of international trading system dissemination of information, and recommending policy options.

Railroad corridor development for example Islamabad -Tehran-Istanbul container service

ITI road, Kazakhstan Tajikistan, Afghanistan, Iran road transport corridor.

Institutional framework including summit and council of ministries,.  ministries meeting of experts and officials, specialized institution

Key economic corporation agreement

1. Economic Corporation Trade Agreements (ECOTA ) signed in July 2003

2. decided that only eco member countries would be beneficial, presently Pakistan exports andv imports 1.3 billion and 1 billion.

3.Central Asia South Asia power project

13summit of ECO 

In the 13summit meeting enhancement of corporations in the energy sector was emphasized.

CASA-1000 was initiated on May 12, 2016, in Tajikistan. Under this agreement Tajikistan, and Kazakhstan export sulfur hydroelectricity to Pakistan and Afghanistan.

Transit trade agreements TTA.  

Transit Trade Agreements TTA  was signed in 1995, during the the 3rd summit. It was enforced in 2004. according to the agreement all member countries can use all means of transport i.e road railway, sea, and air for the transportation of goods. In the 2017 summit meeting the eco-member countries initiated a plan to become beneficial of CPEC.

15 ECO summit 

It was held on 28 November 2021 in Ashgabat, The Objectives of the ECO summit were to review the progress and implementation status of ECO programs, and activities and to make an exchange of views.

Reaffirming our commitment and realization of goods of ECO Vision 2025. 

Recognition of multilateralism.

Highlights the importance of un general assembly resolution date. September,9,2021.

Acknowledging of significance of regional cooperation and integration connectivity.

Noting the concern and the challenges in ensuring food security and agriculture development in the region.

To increase corporation in green energy.

To strengthen to support ensuring the peace in Afghanistan.

To expand industrial partnerships and work on environmental protection.

To encourage cooperation among members.

To enhance eco worldwide connectivity.

In trade, transport, and digital infrastructure.     Be cognizant of the changing global economic realities under covid.   

  Conclusion.  

Eco plays a very important role in trade, economy, transport, etc. eco held the countries together and made a bond between them.