The total GDP of
ECO countries accounts for US dollars 1.8 trillion and the Regional Trade in the
ECO is US $ 64.6 billion which is negligible in comparison to the other regional blocks.
Leadership in Pakistan accentuated
ECO's importance in the context of the regional connectivity and trade liberalization.
He also noted that Pakistan hosted numerous
ECO events during its Chairmanship since the 13th
ECO summit held on March 1, 2017, for the implementation of the Islamabad Declaration and the
ECO Vision 2025.
Dushanbe Communique was adopted, which reinforced the importance of regional connectivity for regional development in order to transform
ECO into a vibrant prosperous and progressive region.The meeting participants renewed their commitment to promoting regional economic integration among the
ECO member states and resolved to play an active role in the realization of the organisation's aims and objectives.
They will also discuss progress and assessment of the implementation of the goals and objectives defined in the "2025
ECO Prospects", the adoption of the New
ECO Program on Assistance to Afghanistan, as well as the administrative and financial issues of the Organization.
ECO secretary-general thanked the prime minister for the warm welcome and said that
ECO Secretariat was actively working on putting in place a framework for promoting trade, enhancing regional connectivity through greater rail and road links and tourism promotion besides other areas of mutual benefit.
The
ECO's share in global trade, he said has been stagnating around just 2 percent of the total trade of the
ECO member states despite the fact that
ECO has 6.2 percent of the world population.
Regarding energy sector, he informed 'We are in process of developing the next
ECO plan of action for energy and petroleum cooperation for teh period 2018-22, building on the achievements and shortcomings of the existing
ECO plan of action (2010-15), taking into account adopted '
ECO VIsion 2025' and the trending UN SDGs.
The following is the full text of the communique: Tehran Communique We, the Foreign Ministers of the Member States and Heads of Official delegations of the Economic Cooperation Organization (
ECO), convening, in a cordial and friendly environment, 21st Meeting of theEe
ECO Council of Ministers on 26 November 2013 in Tehran under the chairmanship of H.E Dr.
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