Baku has concluded a summit of the Economic Cooperation Organization (ECO), resulting in passing of the Baku Declaration. Azerbaijani President Ilham Aliyev said that the next summit will be held in Pakistan.
Turkish Prime Minister Recep Tayyip Erdogan said that Turkey was hoping to make the organization stronger and more influential. He noted that ECO underwent major economic and political changes in the past 20 years. The PM believes that the 12th ECO summit is essential for determination of goals and principles of development.
According to Erdogan, the total GDP of ECO members reached $1.7 trillion (about 2.4% of global GDP). Income per capita totaled $4000. Trade turnover totaled $768 billion (about 2% of global trade turnover).
Simplification of customs procedures and taxing would boost trade. ECO members plan to form a free trade zone before 2015.
Antalya will host a conference of agriculture ministers of ECO states on November 13-16, Trend reports.
Tajik President Emomali Rahmon said that transportation and energy infrastructure, efficient use of water and energy resources, formation of free trade zones, free movement of people, transport and goods were the priorities.
Rahmon noted that only a complex approach to ECO’s activities would transform the organization into an effective tool for development of regional trade-economic relations. A special group was formed in the last two years to study the real state of affairs in the organization and find idle resources, prepare recommendations to respond to new challenges and focus on realization of projects.
The Tajik leader pays special attention to energy and wants to realize related projects fast. He reminded about the Dushanbe Declaration, the energy action plan of 2011-2015 passed by Eco energy ministers in October 2010.
Pakistani President Asif Ali Zardari said that regional cooperation was important because ECO states should resolve problems together. Energy, transportation and trade require joint efforts, he believes. Private business needs support to encourage investments in ECO states.
The Economic Cooperation Organization was founded by states of the Middle Asia and Middle East in 1985. It is the successor of the Regional Cooperation for Development Organization, the structure founded by the Izmir Treaty signed by Iran, Pakistan and Turkey on March 12, 1977.
