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Heads of ECO Chambers of Commerce meeting in Istanbul on Tuesday

KARACHI: Heads of Economic Cooperation Organisation (ECO) Chambers of Commerce and Industry will be meeting at the executive committee meeting to be held on Tuesday, 30 July 2019.

President of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), Engr. Daroo Khan Achakzai, will leave for Istanbul to attend the executive committee meeting.

The meeting will also be attended by the heads of national chambers of all ECO countries including Afghanistan ; Azerbaijan ; Tajikistan ; Uzbekistan ; Turkmenistan ; Kazakhstan ; Kirgizstan ; Iran and Turkey.

The FPCCI chief will address the executive committee meeting being hosted by TOBB – the National Chamber of Turkey at Ankara. At present, the Presidency of ECO CCI is with Afghanistan and Secretariat of ECO CCI exists with TOBB.

The President FPCCI, in the meeting, will take-up the necessary issues of ECO countries hampering trade among the member countries.

The important issues which he will highlight include, transport, arbitration, investment, tourism, implementation of Economic Cooperation Organization Free Trade Agreement (ECOTA) , SME , women entrepreneur etc. before the executive committee meeting. There will be meetings of specialized committees on women entrepreneur, arbitration, transport, ECOTA of the ECO CCI.

The total GDP of ECO countries accounts for US $1.8 trillion and the regional trade in the ECO is US $64.6 billion, which is negligible in comparison to the other regional blocks.

The ECO member countries’ share in the global trade is 2%. Out of the 10 ECO member countries, three have sea ports and the rest seven are landlocked countries.

The President will also highlight the prospects of CPEC which will not only be beneficial for Pakistan but for the entire ECO region also. He will also emphasize on the need of transport facilitation particularly operation of ECO Train Project. He will also discuss the early implementation and operation of the ECO Arbitration Centre under OIC Arbitration Centre.

The FPCCI chief will also attend the 1st meeting of the Pak-Turkey Joint Chamber of Commerce & Industry formed under a MOU with TOBB. The main agenda items of the meeting include promotion of existing bilateral trade and economic relations between Pakistan and Turkey.

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