President Rouhani calls for reforms in ECO

Iranian President Hassan Rouhani has called for reforms in the Economic Cooperation Organization (ECO) to enable it to address the needs of the regional countries and its member states.

President Rouhani told the ECO ministerial meeting in Tehran on Tuesday that the reforms are needed in legal, structural, institutional and planning aspects of the organization.

The Iranian president added that given the current situation of global economy and emerging crises, “cooperation within the framework of regional organizations” can protect the ECO members from international economic upheavals.

Rouhani also stated that boosting regional trade can have a positive effect on the economic development of all the ECO member states.

The 21st Meeting of the Council of Ministers (COM) of the Economic Cooperation Organization (ECO) kicked off in the Iranian capital on Tuesday.

During the opening ceremony, Iran’s Foreign Minister Mohammad Javad Zarif took over the chairmanship of the ECO Council of Ministers from his Azerbaijani counterpart Elmar Mammadyarov.

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 member states.

The organization was expanded in 1992 to include seven new members, namely Afghanistan, Republic of Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan.

ECO provides its members with a platform to discuss ways of improving economic development, and promoting trade and investment opportunities.

By Press TV

 

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