Novel economic architecture required to reinforce ECO convergence: Zarif

March 1, 2017

TEHRAN- To ensure achievement of the expected “ECO VISION 2025” goals, Eco members need a new economic architecture to strengthen their cooperation and convergence, Iranian Foreign Minister Mohammad Javad Zarif said on Tuesday, IRNA reported.

Making the remarks addressing the 22nd Meeting of the ECO Council of Foreign Ministers (COM) in Islamabad, where he aimed to grant Iran’s periodical ECO chairmanship to Pakistan’s Advisor to Prime Minister on Foreign Affairs Sartaj Aziz, Zarif elaborated that the new economic architecture has to rely on a macroeconomic pattern and should match ECO countries’ models of economic growth.

The Iranian minister underscored that ECO is a member-oriented organization and can be successful in obtaining its goals in case all its members have an active participation and mutually the organization works in benefit of all the members. 

He announced Iran’s determination in supporting ECO on the way of achieving its targets.

The 13th ECO Summit will be held in Islamabad on Wednesday and Iranian President Hassan Rouhani will attend it.

The Summit will deliberate and decide on ways and means to augment cooperation in the areas of connectivity, trade, energy, tourism, investment, industry, economic growth, productivity, social welfare and environment.

ECO is an intergovernmental regional organization established in 1985 by Iran, Pakistan and Turkey for the purpose of promoting economic, technical and cultural cooperation among the member states.

In 1992, the organization was expanded to include seven new members, namely Islamic Republic of Afghanistan, Republic of Azerbaijan, Republic of Kazakhstan, Kyrgyz Republic, Republic of Tajikistan, Turkmenistan and Republic of Uzbekistan. 

Over the past years the member states have been collaborating to accelerate the pace of regional development through their common endeavors. 

HJ/MA

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