Nov 26, 2013, 10:46 AM
News Code: 80922371
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ECO presents new model for regional cooperation: President

Tehran, Nov 26, IRNA – President Hassan Rouhani said on Tuesday that the Economic Cooperation Organization has provided a new pattern for regional cooperation.

The President made the remarks while addressing the opening session of the 21st ECO ministerial meeting in Tehran.

Iran is to take over the rotating chairmanship of the ECO Council of Ministers from Azerbaijan in the ongoing meeting for a one-year period.

“Over two decades of cooperation among ten ECO countries from South Asia, Middle East and Central Asia and Caucasia, has provided a new model for regional cooperation,” President Rouhani said.

He added that the ECO members have made major achievements, during the period, in the fields of energy, industry, agriculture, mining, environment, banking, technology and science, education and transportation.

However, noted the President, further progresses should be made in the field of regional cooperation with ECO members having brighter prospects in their minds.

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, 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.