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Economic Cooperation Organization
The
Economic Cooperation Organization
(
ECO
) is anintergovernmentalorganizationinvolving sevenAsianand threeEurasiannations. It provides a platform to discuss ways to improve development and promote trade, andinvestment opportunities. The ECO is an
ad hoc 
organization under theUnitedNations Charter (Chap. VIII). The common objective is to establish asinglemarketfor goods and services, much like theEuropean Union. ECO's secretariat and cultural department are located inTehran, its economic bureau is inTurkey  and its scientific bureau is situated inPakistan. The organization's area is8,620,697 km². The organization was founded by Turkey, Iran and Pakistan.
History and role
Economic Cooperation Organization is an intergovernmental regionalorganization established in 1985 by Iran, Pakistan and Turkey for the purpose of promoting economic, technical and cultural cooperation among the member states. It was the successor organization of what was theRegional Cooperationfor Development(RCD), founded in1962,which ended activities in1979. In the fall of 1992, the ECO expanded to include seven new members, namelyAfghanistan,Azerbaijan,Kazakhstan,Kyrgyzstan,Tajikistan,Turkmenistanand Uzbekistan.The status and power of the ECO is growing. However, the organization facesmany challenges. Most importantly, the member states are lacking appropriateinfrastructure and institutions which the Organization is primarily seeking todevelop, to make full use of the available resources in the region and providesustainable development for the member nations.
Member states
Its member states are:1.Afghanistan2.Azerbaijan3.Iran4.Kazakhstan5.Kyrgyzstan6.Pakistan7.Tajikistan8.turkey9.Turkmenistan10.Uzbekistan
 
 Activities
Activities of ECO are conducted through Directorates under the supervision of Secretary General and his Deputies which considered and evolve projects andprogrammes 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
Objectives
•
Sustainable economic development of Member States;
•
Progressive removal of trade barriers and promotion of intra- regionaltrade; Greater role of ECO region in the growth of world trade; Gradualintegration of the economies of the Member States with the worldeconomy;
•
Development of transport & communications infrastructure linking theMember 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 ECOregion;
•
Regional cooperation for drug abuse control, ecological and environmentalprotection and strengthening of historical and cultural ties among thepeoples of the ECO region; and
•
Mutually beneficial cooperation with regional and internationalorganizations.
Principles of cooperation
•
Sovereign equality of the Member States and mutual advantage;
•
Linking of national economic, development plans with ECO's immediateand long-term objectives to the extent possible;
•
Joint efforts to gain freer access to markets outside the ECO region for theraw materials and finished products of the Member States;
•
Effective utilization of ECO institutions, agreements and cooperativearrangements with other regional and international organizations includingmultilateral financial institutions;
•
Common endeavors to develop a harmonized approach for participation inregional and global arrangements;
•
Realization of economic cooperation strategy; and Exchanges ineducational, scientific, technical and cultural fields
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razashabbir13

really good notes..by raza shabbir..college of banking and finance

reply11 / 09 / 2009
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