In 1955, Iran, Pakistan and Turkey founded the Economic Cooperation Organization (ECO).
The objective of the Economic Cooperation Organization (ECO) is to promote economic,
regional trade, technical and cultural cooperation among the
member economies: Islamic State of Afghanistan, Azerbaijan Republic, Islamic Republic of Iran, Republic of Kazakhstan, Kyrgyz Republic, Islamic Republic of Pakistan, Republic of Tajikistan, Republic of Turkey,
Turkmenistan and Republic of Uzbekistan.
One of the main goals of the ECO (Economic Cooperation Organization) is to promote International trade
within the region and the rest of the world based on the principle of
free trade. Several projects has been implemented:
The ECO (Economic Cooperation Organization) region is geographically immense and well
potential economic resources (agriculture, arable land, energy, mining, human resources).
The Economic Cooperation Organization (ECO) is a
huge strategic trade region.
- Population of the Economic Cooperation Organization (ECO): 400 million people,
(6% of the world population)
- Total trade share of ECO region in the world trade: 2%.
- The intra- export ratio of the
ECO region reached 6% in 2008.
ECO (Economic Cooperation Organization) economies are implementing reforms to create favorable conditions for attracting
Foreign direct investment (FDI):
optimizations in FDI legislation, privatization of state-owned companies, and
liberalization of Foreign direct investment flows.
Example of the course Economic Cooperation Organization (ECO):
ECO Chamber of Commerce and industry
ECO-CCI, was founded by the Union of Chambers and Commodity Exchanges of
Turkey, Iran Chamber of Commerce, Industries and Mines, and Federation of
Pakistan Chambers of Commerce and industry, in 1990.
The Economic Cooperation Organization Trade and Development Bank is a Multilateral Development Bank (MDB) established
in 2005 by Iran, Pakistan and Turkey.
Central Asian countries