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Economic Cooperation Organization (EC0) : Members of ECO

The Economic Cooperation Organization (ECO) was established in 1985 by Iran, Pakistan and Turkey to promote economic, technical and cultural cooperation among member states. ECO seeks to gradually decrease trade barriers and integrate the region into the global market. It has 10 member states located in a geopolitically important region between Russia, China, the Indian Ocean, and Persian Gulf. The organization aims to expand trade, promote economic growth, strengthen cultural ties, and develop a common approach to international trade forums. Key recommendations include improving transport infrastructure, developing workforce skills, reducing political differences, and strengthening relations with other regional blocs.

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242 views3 pages

Economic Cooperation Organization (EC0) : Members of ECO

The Economic Cooperation Organization (ECO) was established in 1985 by Iran, Pakistan and Turkey to promote economic, technical and cultural cooperation among member states. ECO seeks to gradually decrease trade barriers and integrate the region into the global market. It has 10 member states located in a geopolitically important region between Russia, China, the Indian Ocean, and Persian Gulf. The organization aims to expand trade, promote economic growth, strengthen cultural ties, and develop a common approach to international trade forums. Key recommendations include improving transport infrastructure, developing workforce skills, reducing political differences, and strengthening relations with other regional blocs.

Uploaded by

Nabiha Izhar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Economic cooperation organization

(EC0)
Economic Cooperation Organization (ECO) is an intergovernmental regional
organization established in 1985 by Iran, Pakistan and Turkey for promoting
economic, technical and cultural cooperation among the Member States. Under
the guidelines of ECO, all the member countries have been gradually decreasing
tariff and non-tariff barriers to promote intraregional trade and gradual
integration of the region with global market. The member’s states region enjoys
approximately 6.3% of total global population. The region occupies a vital
geopolitical location, bordered by Russia, China, the Indian ocean, the Persian
Gulf and the Caspian basin. Among the ECO, seven-member states are landlocked
countries while the remaining are dependent on transport for developing their
economics. Due to its geostrategic position, the ECO collectively and its member
countries individually has a significant connection between this group to other
regional and international economic groups.

Members of ECO
1. Islamic Republic of Afghanistan
2. Republic of Azerbaijan
3. Islamic Republic of Iran
4. Republic of Kazakhstan
5. Kyrgyz Republic
6. Islamic Republic of Pakistan
7. Republic of Tajikistan
8. Republic of Turkey
9. Turkmenistan
10.Republic of Uzbekistan

From RDC to ECO:


The origin of ECO dates back to the 1950s. In 1955 the Baghdad Pact was with the
participation of Turkey, Pakistan, Iran, Iraq, the USA and the UK in order to block
possible Soviet advances in Middle East. Upon the withdrawal of Iraq from
Baghdad Pact in 1958, the pact was renamed as the Central Treaty Organization
(CENTO). However, CENTO’s objectives were mainly military. And three regional
member countries of the CENTO, Iran, Pakistan and Turkey, formed a parallel but
new alliance on regional economic cooperation named as Regional cooperation
for Development (RCD) in 1964.

Establishment of ECO:
The RCD was revived in January 1985 under a new name, Regional Cooperation
Organization (ECO). Despite several meetings, it was soon realized that the
organization could not gain momentum without sufficient political and legal
backing. It was after ministerial Conference convened in June 1990 in Islamabad
and amendments to the Treaty of Yzmir were adopted, that ECO became
operational on January 11,1991, with its headquarter in Tehran, Iran.

Objective of ECO:
1. To expand trade among member states by providing freer access to each
other’s market.
2. To promote in each Member state condition for sustained economic
growth to achieve continuous improvement in standard of living of the
people.
3. To consolidate cultural affinities and spiritual and fraternal ties that bind
the people of the member states through social and cultural channels of
thought and action
4. To contribute to the growth of world trade and to strive for removing
wicked trading policies resulting in adverse terms of trade for developing
countries, by evolving a common approach in international forums.

Recommendations and policy options:


1. There is a dire need to develop transport sector for regional cooperation.
The development of transport system in ECO region will lower the
transportation costs. An efficient transport system may help in shaping the
economies.
2. The training and skill development is necessary to transform the human
resource into human capital.
3. ECO members should keep the political and regional differences at a side.
For this, there has to be political will on the part of the government.
4. ECO should strengthen their relations with other regional blocs such as
European Union, ASEAN, and learn the lessons for their successful
experience.

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