Ashgabat, 27 November 2021 (TDI): President of Pakistan, Dr. Arif Alvi, is on an official two-day visit to Turkmenistan to attend the 15th Summit of the Economic Cooperation Organization (ECO).
Deputy Prime Minister of Turkmenistan, Chary Amanov, received the President upon his arrival at the Ashgabat International Airport. He was also presented Guard of Honor.
The President will address the plenary session of the 15th SCO Summit. He will also hold several bilateral meetings with other states’ officials on the sidelines of the Summit.
15th ECO Summit
President of Turkmenistan, Gurbanguly Berdimuhamedov is chairing the 15th Summit of ECO. This year’s theme of the Summit is “Into the Future Together”.
The 15th ECO Summit will review the activities and programs of the organization. It will also undertake a midterm review of Economic Vision 2020. The Economic Vision 2020 is a cornerstone for ECO revival and it laydowns a policy roadmap for future cooperation, among the ECO members, in various sectors. The member states adopted Economic Vision in 2017 during the 13th ECO Summit in Islamabad.
Additionally, the 15th Summit will also lead to the adoption of the Ashgabat Consensus for Action as an outcome document of the Summit.
Economic Cooperation Organization: An Overview
Economic Cooperation Organization (ECO) is an intergovernmental regional trade and development organization. It is a successor of Regional Cooperation for Development (RCD) , established in 1964. In 1985, the RCD was renamed Economic Cooperation Organization.
Pakistan, Iran, and Turkey are the founding members of this platform. In 1992, Afghanistan and six former Soviet Republics, including Azerbaijan, Turkmenistan, Uzbekistan, Tajikistan, Kyrgyzstan, and Kazakhstan, joined the ECO.
ECO encompasses an area of 8 million square kilometers which represents 6.3% of the world population. China, Russia, Europe, and Gulf states lie in its neighborhood. It contributes more than 2% of global trade. Moreover, the organization has a 3% share in global GDP.
The region encompassed by ECO is rich in fossil fuels and mineral resources. The intra-regional trade is 8%. Furthermore, European Union (EU), China, and the United States are its major trading partners.
Additionally, Pakistan hosted the 13th Summit of ECO titled “Connectivity for Regional Prosperity”. While Turkey virtually chaired the 14TH Summit having a theme “Regional Cooperation in the aftermath of COVID-19”. The 15th Summit, being chaired by Turkmenistan, will chalk out further avenues of strengthening cooperation among the member states.
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