The ECO declaration

The ECO adopted a declaration on regional economic cooperation, climate change and ensuring energy and food security.

The 11^th summit of the heads of state of the member states of the Economic Cooperation Organisation (ECO) was recently held in Istanbul. It concluded with the adoption of a declaration focusing on regional economic cooperation, climate change and ensuring energy and food security. The declaration also included a reference to the establishing of a free trade zone in the region which it said would be contained in an ECO vision statement for 2015.

The heads of state of participating countries recognised that the global economic crisis had adversely affected economic growth and sustainable development in the region.

President Asif Ali Zardari emphasised the need to fulfil the objectives of the ECO and reaffirmed his commitment towards peace in the region, particularly in Afghanistan. He said that Pakistan has a vital stake in the peace, stability and economic development of Afghanistan and it should be seen as a part of the solution of the Afghanistan issue. The sacrifices rendered by Pakistan in the war against terror signified its intentions in fighting terrorists. He also said that Pakistan believed in a policy of non-interference in Afghanistan’s internal affairs. President Zardari noted that the conclusion of the new transit trade agreement would boost trade and economic opportunities in the region and help raise the current level of bilateral trade from $2 billion to $5 billion in the next few years.

President Zardari, who was visiting Turkey to participate in the summit, held important meetings with the heads of the participating countries. In his meeting with the Turkish president, he underlined the importance of Turkish investment in Pakistan. Mr Zardari vowed to remove bottlenecks in way of foreign investors and emphasised that both countries should encourage their private sectors to collaborate closely in energy, infrastructure development, engineering, textiles, agriculture, telecommunications and mining.

Turkey supported Pakistan generously at a time when the country was ravaged by the worst floods in its history. In order to deepen relations between the two countries, the president proposed an increase in the number of flights between the two countries.

The ECO declaration said further that the setting up of the ECO Trade and Development Bank should be expedited in that all member countries should become part of it. It also said that a cargo train initiated in August 2010 on the Islamabad-Tehran-Istanbul route had been successful and that a similar project would now be undertaken between Istanbul and Almaty during 2011.

Ten ECO member countries and guest states including Iraq, Qatar, Jordan, Lebanon and Syria attended the summit, with the attendance of Afghan President Hamid Karzai, Azerbaijani President Ilham Aliyev, Iranian President Mahmoud Ahmadinejad, Kyrgyz President Roza Otunbaeva, Pakistani President Asif Ali Zardari and Tajik President Emomoli Rahman.

Published in The Express Tribune, January 4^th, 2011.