Iran Urges Enhanced Economic Exchanges among ECO Members

Iran’s Deputy Foreign Minister for Economic Affairs Rasoul Mohajer has called for more efforts among the members of the Economic Cooperation Organization (ECO) to increase trade exchanges. Mohajer made the remarks in an address to the meeting at the level of deputy foreign ministers of the ECO member states, which was held at the organization’s secretariat in Tehran on Monday.

He said the volume of economic exchanges among the ECO members with the countries around the world stands at one trillion dollars, PressTV reported. “However, only 7% of this figure includes interactions among the ECO members, which needs to be improved,” the Iranian diplomat added.

During the session, Kazakhstan’s Deputy Foreign Minister Alibek Bakayev, whose country currently assumes the role of ECO secretary general, also delivered a speech. ECO, whose members are Afghanistan, Azerbaijan, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Turkmenistan, Turkey, and Uzbekistan, promotes regional trade and economic development.

The ECO region is endowed with appropriate capacities, opportunities, and platforms for cooperation in various fields, especially in energy, trade and transport. Iran, one of the founders of the organization, is a key member of the group due to its geopolitical and geoeconomic position.

With its impressive energy resources and the geographic location to transfer them to global markets, Iran is an important fulcrum for multilateral cooperation and regional convergence. Besides, it is best placed for transferring energy from Central Asia and the Eurasian region to the world market. - Mehr