ECO to develop regionally integrated transport network
By Khalid Amin

ISLAMABAD—The 18th Regional Planning Council meeting of Economic Coordination Organization (ECO) ended here on Thursday with a renewed pledge to develop a regionally integrated transport network in the ECO region. The four-day meeting was held to review the progress of ECO and future areas of common interest in trade and investment, transport and communication, agriculture, industry, human resource development sectors, energy and environment sectors.
Briefing the media after the concluding session of the meeting Secretary General ECO, Khurshid Anwar and Secretary Planning Commission Ghiasuddin Ahmed said that the meeting reviewed in detail the progress on implementation of ECO’s approved programmes and also took into consideration new projects for the next year. Secretary Planning Commission said that the meeting also agreed upon establishing geological data bank for the member states. “Sustainable development was another primary focus in the deliberations in the meeting to meet Millennium Development Goal (MDG’s) by 2015,” he added.
He said the meeting also stressed upon close liaison with other regional and international organizations and International Financial Institutions (IFI’S), including World Bank and Islamic Development Bank for concentrated development activities in basic health, primary and higher education. Secretary General ECO said that the region had great potential in trade and the meeting stressed upon member states to increase the mutual international trade volume from 7.5 per cent to 15 per cent in next 3-5 years.
He said in the energy sector, the meeting called for speeding up the feasibility study on interconnection of ECO Power Systems. The feasibility study is being carried out by NESPEC along with the institute of Energy and Communications of the Kyrgyz Technical University. “It will help promote power trade and power management among ECO countries,” he added.
The meeting appreciated establishment and ratification of ECO Trade Agreement by five countries i.e Pakistan, Afghanistan, Iran, Tajikistan and Turkey. It also recommended effective measures for the implementation of Free Trade Agreement among member states.
Given the regions’ vast trade potential, trade among members states is expected to increase sharply from the present volume of $38 billions as ECOTA takes effect. The member states will meet in Turkey next month to identify the ‘base year’ from which the tariff reduction under ECO Trade Agreement (ECOTA) would be carried out.
The meeting in its concluding session also adopted a set of recommendations, including a calendar of events for the year 2008-09. The meeting also discussed mutual means to promote technical expertise among manpower of member countries in order to fill the required needs. Close coordination with global organizations like World Bank and Islamic Development Bank was also stressed by members in order to fulfill the financial obligations of such projects like basic health, primary and higher education and development, energy supply and infrastructure.
An increase of 15% in mutual trade, from the current 7% between members in the coming 3- 5 years was also agreed upon, while all the participants, which included Pakistan, Turkey, Afghanistan, Tajikistan, and Iran expressed their satisfaction over the proceedings which also suggested and agreed to enhance the current trade volume of Rs 38 billion. A meeting in Turkey has been chalked out for this purpose, which would also focus on issues of problems being faced regarding reduction of tariff, and stressed on speeding work on ongoing feasibility study being prepared by NESPAK and Kyrgiz Technical University regarding ECO power system.