Strengthening ties: ECO Chamber calls for regional development

President says root causes of lower trade should be addressed

ISLAMABAD: Meetings of the executive committee, specialised committees and energy consortium of the ECO Chamber of Commerce and Industry (ECO-CCI), held from August 14 to 17 in Iran, ended with a resolution aimed at improving regional socio-economic development to raise living standards of the people.

In the first meeting of ECO-CCI’s energy consortium, various proposals and suggestions came under discussion along with meetings of the specialised committees on industry and investment, trade facilitation, transportation, tourism, arbitration and business rating.

The ECO-CCI prepared the draft concept paper of the ECO Vision 2025 and the secretariat gave a presentation on the significance of China-Pakistan Economic Corridor, investment opportunities in Pakistan and the small and medium enterprise sector of ECO countries. ECO-CCI President Abdul Rauf Alam emphasised the need for strengthening economic relations in the ECO region.

He suggested that this should be done through addressing the root causes of lower intra-regional trade and investment, harmonisation of trade and development of transport and communications and effective infrastructure linkages in the region and with the outside world.

He also called for early implementation of the TIR (International Transport of Goods) Convention, which would boost intra-regional trade.

Published in The Express Tribune, August 23^rd, 2016.

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