ECO should support intra-local trade between members| MENAFN.COM

Monday, 06 February 2023 12:43 GMT

ECO should support intra-local trade between members


(MENAFN) Iranian Foreign Minister Hossein Amir Abdollahian joined Tuesday the ministerial conference of the Economic Cooperation Organization (ECO) in Uzbekistan's capital and gave an address in which he condemned the European Union for its emotional behaviors.

In his address, Amir Abdollahian discussed many problems as well as intra-regional trade, connectivity, energy, innovation, and the situation in Afghanistan.

“ECO should promote intra-regional trade between members. So far, this has been less so, and trade between members has not received sufficient support from ECO's trade mechanisms. I suggest and request that all members, and not just the 5 member countries of the ECOTA trade agreement, support and participate in the initiation of negotiations for trade liberalization at the regional level,” he added.

Amir Abdollahian said, “Transportation is one of the drivers of convergence and collective development and prosperity of the economic capacities of the region in the coming years. As a region, ECO is a transit route to connect peripheral regions including East and South Asia, North and Eastern Europe, and the south of the Persian Gulf.”

He as well touched on the energy security issues that is now damaging the world. “The current energy security crisis in the world and the region has clearly revealed the vulnerability of energy consuming countries to unexpected shocks. Climate changes and recent winter cold have also highlighted the vulnerability of some energy producing countries. The ECO region can become a model of partnership between energy producing countries and energy consuming countries.
Undoubtedly, participation in the gas and electricity sectors is one of ECO'S priorities in this regard,” he added, noting, “I would like to point out the initiative of the honorable presidency of the Islamic Republic of Iran under the title ‘Gas in the service of the recovery of the global economy after Covid’, which was presented in the assembly of gas exporting countries. This initiative can also be the basis for participation in the ECO region.”

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