Economic Cooperation Organization
|Motto: "Sustainable socioeconomic development for people of the region"|
Member states of the ECO
|•||Secretary General||Halil İbrahim Akça |
|•||Total||7,937,197 km2 (6th)
3,064,568.90 sq mi
|•||2010 estimate||416,046,863 (3rd)|
|GDP (PPP)||2015 estimate|
|•||Total||US $4.7 trillion (5th)|
|GDP (nominal)||2015 estimate|
|•||Total||US $1.9 trillion (8th)|
|Time zone||(UTC+2 to +5)|
The Economic Cooperation Organisation or ECO (Persian: سازمان همکاری اقتصادی, Urdu: اقتصادی تعاون تنظیم, Turkish: Ekonomik İşbirliği Teşkilatı, Kazakh: Экономикалық ынтымақтастық ұйымы, Uzbek: Iqtisodiy Hamkorlik Tashkiloti, Kyrgyz: Экономикалык Кызматташтык Уюмунун, Azerbaijani: İqtisadi Əməkdaşlıq Təşkilatı, Tajik: Ташкилоти ҳамкории иқтисодӣ, Pashto: اقتصادي همکاريو د سازمان) is a Eurasian political and economic intergovernmental organization which was founded in 1985 in Tehran by the leaders of Iran, Pakistan and Turkey. It provides a platform to discuss ways to improve development and promote trade and investment opportunities. The ECO is an ad hoc organization under the United Nations Charter (Chap. VIII). The objective is to establish a single market for goods and services, much like the European Union. ECO's secretariat and cultural department are located in Tehran, its economic bureau is in Turkey and its scientific bureau is situated in Pakistan.
- 1 History
- 2 Official names
- 3 Objectives & Principles of Cooperation
- 4 Membership
- 5 Structure
- 6 Activities
- 7 Summits
- 8 Regional Institutions & Agencies
- 9 Relationship with other organizations
- 10 Secretaries General
- 11 See also
- 12 References
- 13 External links
The Economic Cooperation Organization was the successor organisation of what was the Regional Cooperation for Development (RCD), founded in 1964, which ended activities in 1979. In 1985 Iran, Pakistan and Turkey joined to form the ECO. By the fall of 1992, the ECO expanded to include seven new members; Afghanistan, Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan. The date of the expansion to its present strength, 28 November, is referred to as "ECO Day". The status and power of the ECO is growing. However, the organization faces many challenges. Most importantly, the member states are lacking appropriate infrastructure and institutions which the Organization is primarily seeking to develop, to make full use of the available resources in the region and provide sustainable development for the member nations. The Economic Cooperation Organisation Trade Agreement (ECOTA) was signed on 17 July 2003 in Islamabad. ECO Trade Promotion Organization (TPO) is a new organization for trade promotion among member states located in Iran (2009). Under the agreement reached between ECO members, the common trade market should be established by 2015.
The official working languages of the Economic Cooperation Organization is English. The official names of the organization are:
- Azeri: İqtisadi Əməkdaşlıq Təşkilatı
- Persian: سازمان همکاری اقتصادی
- Kyrgyz: Экономикалык Кызматташтык Уюмунун
- Urdu: اقتصادی تعاون تنظیم
- Turkish: Ekonomik İşbirliği Teşkilatı
- Kazakh: Экономикалық ынтымақтастық ұйымы
- Tajik: Созмони Ҳамкории Иқтисодӣ
- Uzbek: Iqtisodiy Hamkorlik Tashkiloti
- Pashto: اقتصادي همکاريو د سازمان
Objectives & Principles of Cooperation
- Sustainable economic development of Member States;
- Progressive removal of trade barriers and promotion of intra- regional trade; Greater role of ECO region in the growth of world trade; Gradual integration of the economies of the Member States with the world economy;
- Development of transport & communications infrastructure linking the Member States with each other and with the outside world;
- Economic liberalization and privatization;
- Mobilization and utilization of ECO region's material resources;
- Effective utilization of the agricultural and industrial potentials of ECO region.
- Regional cooperation for drug abuse control, ecological and environmental protection and strengthening of historical and cultural ties among the peoples of the ECO region; and
- Mutually beneficial cooperation with regional and international organizations.
- Sovereign equality of the Member States and mutual advantage;
- Linking of national economic, development plans with ECO's immediate and long-term objectives to the extent possible;
- Joint efforts to gain freer access to markets outside the ECO region for the raw materials and finished products of the Member States;
- Effective utilization of ECO institutions, agreements and cooperative arrangements with other regional and international organizations including multilateral financial institutions;
- Common endeavors to develop a harmonized approach for participation in regional and global arrangements;
- Realization of economic cooperation strategy; and Exchanges in educational, scientific, technical and cultural fields
|Islamic Republic of Afghanistan||Kabul||647,500||26,023,100||40.2||$20.444 million||$614.892||Afghani||Dari, Pashto|
|Republic of Azerbaijan||Baku||86,600||9,676,500||111.7||$74.145 million||$6,794.432||Manat||Azerbaijani, Russian (interethnic)|
|Islamic Republic of Iran||Tehran||1,648,195||78,859,600||47.8||$416.490 million||$5,047.835||Rial||Persian|
|Republic of Kazakhstan||Astana||2,724,900||17,630,700||6.5||$216.036 million||$11,028.069||Tenge||Kazakh, Russian|
|Kyrgyz Republic||Bishkek||199,900||5,975,000||29.9||$7.402 million||$1,197.755||Som||Kyrgyz, Russian|
|Islamic Republic of Pakistan||Islamabad||796,095||192,208,550||241.4||$246.849 million||$1,427.085||Rupee||Urdu|
|Republic of Tajikistan||Dushanbe||143,100||8,354,000||58.4||$9.242 million||$949.052||Somoni||Tajik, Russian (interethnic)|
|Republic of Turkey||Ankara||783,562||77,695,904||99.2||$798.332 million||$9,290.425||Lira||Turkish|
|Turkmenistan||Ashgabat||488,100||4,751,120||9.7||$47.932 million||$7,534.021||Manat||Turkmen, Russian (interethnic)|
|Republic of Uzbekistan||Tashkent||447,400||31,022,500||69.3||$62.613 million||$2,129.504||Som||Uzbek, Russian (interethnic)|
Council of Ministers
The Council of Ministers (COM) is the highest policy and decision-making body and is composed of the various Ministers of Foreign Affairs or such other representatives of the ministerial rank as may be designated by the respective governments. The COM meets at least once a year by rotation among the member states.
Council of Permanent Representatives
The Council of Permanent Representatives (CPR) consists of the Permanent Representatives/Ambassadors of the member states accredited to the Islamic Republic of Iran as well as to the ECO and the Director General for ECO Affairs of the Ministry of Foreign Affairs of the Islamic Republic of Iran.
Regional Planning Council
The Regional Planning Council (RPC) is composed of the Head of the Planning Organization of member states or such other representatives of corresponding authorities.
The General Secretariat (GS) consists of six directorates under the supervision of the Secretary General and his deputies. Two specialized agencies and six regional institutes are acting under the supervision of the GS.
- ECO Directorate of Industry & Agriculture
- ECO Directorate of Trade & Investment
- ECO Directorate of Energy, Mineral & Environment
- ECO Directorate of Transport & Communications
- ECO Directorate of Economic Research & Statistics
- ECO Directorate of Project Research & Development
Activities of ECO are conducted through directorates under the supervision of Secretary General and his Deputies which considered and evolve projects and programs of mutual benefit in the fields of:
- Trade and Investment
- Transport and Telecommunications
- Energy, Minerals and Environment
- Agriculture, Industry and Tourism
- Human Resources & Sustainable Development
- Project & Economic Research and Statistics
List of summits
|Heads of State|
|1st||February, 16-17 1992||Iran||Tehran|
|2nd||6-7 May 1993||Turkey||Istanbul|
|3rd||14-15 May 1995||Pakistan||Islamabad|
|4th||14 May 1996||Turkmenistan||Ashgabat|
|Extraordinary||14 May 1997||Turkmenistan||Ashgabat|
|5th||11 May 1998||Kazakhstan||Almaty|
|6th||10 June 2000||Iran||Tehran|
|7th||14 October 2002||Turkey||Istanbul|
|8th||14 September 2004||Tajikistan||Dushanbe|
|9th||5 May 2006||Azerbaijan||Baku|
|10th||11 March 2009||Iran||Tehran|
|11th||23 December 2010||Turkey||Istanbul|
|12th||16 October 2012||Azerbaijan||Baku|
Regional Institutions & Agencies
ECO Chamber of Commerce and Industry
ECO-CCI was established on 10 June 1993. Its objectives are to contribute to enhance economic cooperation and relations in trade, industry, agriculture, tourism, contracting, engineering and banking sectors as well as to realize joint investments among the Member States. National Chambers of Afghanistan, Azerbaijan, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan and Turkey are member of ECO-CCI. The 7th General Assembly Meeting of ECO Chamber of Commerce and Industry (ECO-CCI), held on 20 April 2004 in Kabul, Afghanistan. The participating member states offered some proposals for developing new mechanism and modalities for better interaction between member chambers and to re-activate ECO-CCI.
ECO Reinsurance Company
In March 1995, Iran, Pakistan and Turkey agreed to establish ECO Reinsurance Company. The purpose is supplement the existing reinsurance services in the region, promote growth of the national underwriting and retention capacities, minimize the outflow of foreign exchange from the region and to support economic development in the region. The three member countries decided to form a Trilateral Interim Committee to pave the way for the establishment of this important institution. The Trilateral Interim Committee in its various meetings reviewed the relevant issues such as the development of the business plan and signing of the Articles of Agreement already finalized by a group of Experts from the three founding member countries.
ECO Consultancy & Engineering Company
Governments of all the ECO Member States has established a central resource pool in the shape of ECO Consultancy and Engineering Company (Pvt.) Ltd., or ECO-CEC, to assist in the development projects sponsored by ECO Member States or by its Trade and Development Bank. The founder States are Islamic Republic of Iran, Islamic Republic of Pakistan and Republic of Turkey which hold an equal share in ECO-CEC, Turkey being represented by two companies and Iran and Pakistan, by one each. The Iranian and Turkish Companies specialize mainly in oil and gas pipelines, refineries, petrochemical and industrial engineering, while the Pakistani partner in all other fields of development engineering, including communications, power, urban development public health, telecommunications, water resources development and agriculture. ECO-CEC provides its expertise in the entire range of consultancy operations, starting from conception, project planning and appraisal, through pre-feasibility, feasibility and financial studies, investigation and exploration, site selection to engineering design, material and equipment specifications, construction supervision, contract management, quality control and preparation of technical manuals for the operation and maintenance of the projects.
ECO Trade and Development Bank
The Economic Cooperation Organization Trade and Development Bank (ETDB) was established by the three founding members of the Economic Cooperation Organization (ECO) in 2005 which are the Islamic Republic of Iran, Islamic Republic of Pakistan and Republic of Turkey. The Republic of Azerbaijan, the Islamic Republic of Afghanistan and the Kyrgyz Republic became the member of the ETDB in 2013, 2014 and 2015 respectively.
As of 31 December 2015, the paid in share capital of the ETDB was SDR 310,870 thousand since Azerbaijan, Afghanistan and Kyrgyzstan are in process of payment of their paid-in capital contributions.
The Bank has successfully started its operations in 2008. Its headquarters is in Istanbul (Turkey) and representative offices are in Karachi (Pakistan) and Tehran (Iran). The primary objective of the Bank is to provide financial resources for projects and programmes in member countries. The Bank offers a range of medium-to-long term products i.e. project finance, corporate finance, trade finance and loans to support small and medium-sized enterprises directly or through financial intermediaries to private and state owned entities.
ECO Cultural Institute (ECI)
ECO Cultural Institute (ECI) is affiliated with ECO and aims at fostering understanding and the preservation of the rich cultural heritage of its members through common projects in the field of the media, literature, art, philosophy, sport and education. 
- ECO Supreme Audit Institutions
- ECO Cultural Institute
- ECO Science Foundation
- ECO Educational Institute
- ECO Drug Control Coordination Unit
- ECO Trade promotion Unit
- ECO Post
- ECO Shipping Company
Relationship with other organizations
All the ECO states are also member-states of the Organisation of the Islamic Conference (OIC), while ECO itself has observer status in the OIC since 1995.
|1||Alireza Salari||1988 - 1992|
|2||Shamshad Ahmad||1992 - 1996|
|3||Onder Ozar||1996 - 2000|
|4||Abdolrahim Gavahi||August 2000 - July 2002|
|5||Seyed Mojtaba Arastou||July 2002 - August 2003|
|6||Bekzhassar Narbayev||August 2003 - January 2004|
|7||Askhat Orazbay||January 2004 - August 2006|
|8||Khurshid Anwar||August 2006 - August 2009|
|9||Yahya Maroofi||August 2009 - August 2012|
|10||Shamil Alaskerov||August 2012 - August 2015|
|11||Halil İbrahim Akça||August 2015 - August 2018|
|source||ECO Secretaries General|
- ".:The Secretariat of Economic Cooperation Organization:.". Retrieved 29 April 2016.
- "ECOTA" (PDF). Retrieved 2012-02-09.
-  Archived 2 May 2009 at the Wayback Machine.
- "Report for Selected Countries and Subjects". Imf.org. 2015-06-10.
- "Report for Selected Countries and Subjects". Retrieved 29 April 2016.
- ECO Secretariat ECO Secretary General Meets the Representatives of Turkish Cyprus State in Tehran
- "The 12th ECO Summit Meeting". Retrieved 29 April 2016.
- "Leading News Resource of Pakistan". Daily Times. 2010-02-11. Retrieved 2012-02-09.
- "ECO Cultural Institute's Medals". http://en.ecieco.org/. Retrieved 31 October 2014. External link in
- "ECO Secretary Generals". Ecosecretariat.org. Retrieved 2012-02-09.
- ECO's Website
- ECO's Cultural Institute
- ECO's Trade and Development Bank
- ECO's Drug Control Coordination Unit
- ECO's Trade promotion Unit
- ECO's Post