Economic Cooperation Organization

Economic Cooperation Organization

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The Economic Cooperation Organization (ECO) is an intergovernmental organization involving seven Asia
Asia
Asia is the world's largest and most populous continent, located primarily in the eastern and northern hemispheres. It covers 8.7% of the Earth's total surface area and with approximately 3.879 billion people, it hosts 60% of the world's current human population...

n and three Eurasia
Eurasia
Eurasia is a continent or supercontinent comprising the traditional continents of Europe and Asia ; covering about 52,990,000 km2 or about 10.6% of the Earth's surface located primarily in the eastern and northern hemispheres...

n nations, part of the South-central Asian Union. It provides a platform to discuss ways to improve development and promote trade, and investment opportunities. The ECO is an ad hoc
Ad hoc
Ad hoc is a Latin phrase meaning "for this". It generally signifies a solution designed for a specific problem or task, non-generalizable, and not intended to be able to be adapted to other purposes. Compare A priori....

organization under the United Nations Charter (Chap. VIII). The common objective is to establish a single market
Single market
A single market is a type of trade bloc which is composed of a free trade area with common policies on product regulation, and freedom of movement of the factors of production and of enterprise and services. The goal is that the movement of capital, labour, goods, and services between the members...

 for goods and services, much like the European Union
European Union
The European Union is an economic and political union of 27 independent member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community and the European Economic Community , formed by six countries in 1958...

. ECO's secretariat and cultural department are located in Tehran
Tehran
Tehran , sometimes spelled Teheran, is the capital of Iran and Tehran Province. With an estimated population of 8,429,807; it is also Iran's largest urban area and city, one of the largest cities in Western Asia, and is the world's 19th largest city.In the 20th century, Tehran was subject to...

, its economic bureau is in Turkey
Turkey
Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe...

 and its scientific bureau is situated in Pakistan
Pakistan
Pakistan , officially the Islamic Republic of Pakistan is a sovereign state in South Asia. It has a coastline along the Arabian Sea and the Gulf of Oman in the south and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. In the north, Tajikistan...

. The organization's population is 416,046,863 and the area is 8,620,697 km². The organization was founded by Turkey, Iran and Pakistan.

History and role


Economic Cooperation Organization is an intergovernmental regional organization established in 1985 by Iran, Pakistan and Turkey for the purpose of promoting economic, technical and cultural cooperation among the member states. It was the successor organisation of what was the Regional Cooperation for Development
Regional Cooperation for Development
Regional Cooperation for Development was a multi-governmental organization which was originally established in 1964 by Iran, Pakistan and Turkey to allow socio-economic development of the member states. In 1979, this organization was dissolved...

 (RCD), founded in 1964, which ended activities in 1979. In the fall of 1992, the ECO expanded to include seven new members, namely Afghanistan
Afghanistan
Afghanistan , officially the Islamic Republic of Afghanistan, is a landlocked country located in the centre of Asia, forming South Asia, Central Asia and the Middle East. With a population of about 29 million, it has an area of , making it the 42nd most populous and 41st largest nation in the world...

, Azerbaijan
Azerbaijan
Azerbaijan , officially the Republic of Azerbaijan is the largest country in the Caucasus region of Eurasia. Located at the crossroads of Western Asia and Eastern Europe, it is bounded by the Caspian Sea to the east, Russia to the north, Georgia to the northwest, Armenia to the west, and Iran to...

, Kazakhstan
Kazakhstan
Kazakhstan , officially the Republic of Kazakhstan, is a transcontinental country in Central Asia and Eastern Europe. Ranked as the ninth largest country in the world, it is also the world's largest landlocked country; its territory of is greater than Western Europe...

, Kyrgyzstan
Kyrgyzstan
Kyrgyzstan , officially the Kyrgyz Republic is one of the world's six independent Turkic states . Located in Central Asia, landlocked and mountainous, Kyrgyzstan is bordered by Kazakhstan to the north, Uzbekistan to the west, Tajikistan to the southwest and China to the east...

, Tajikistan
Tajikistan
Tajikistan , officially the Republic of Tajikistan , is a mountainous landlocked country in Central Asia. Afghanistan borders it to the south, Uzbekistan to the west, Kyrgyzstan to the north, and China to the east....

, Turkmenistan
Turkmenistan
Turkmenistan , formerly also known as Turkmenia is one of the Turkic states in Central Asia. Until 1991, it was a constituent republic of the Soviet Union, the Turkmen Soviet Socialist Republic . Turkmenistan is one of the six independent Turkic states...

 and Uzbekistan
Uzbekistan
Uzbekistan , officially the Republic of Uzbekistan is a doubly landlocked country in Central Asia and one of the six independent Turkic states. It shares borders with Kazakhstan to the west and to the north, Kyrgyzstan and Tajikistan to the east, and Afghanistan and Turkmenistan to the south....

.

The status and power of the ECO is growing. However, the organization faces many challenges. Most importantly, the member states are lacking appropriate infrastructure and institutions which the Organization is primarily seeking to develop, to make full use of the available resources in the region and provide sustainable development for the member nations.

The Economic Cooperation Organisation Trade Agreement (ECOTA) was signed on 17 July 2003 in Islamabad
Islamabad
Islamabad is the capital of Pakistan and the tenth largest city in the country. Located within the Islamabad Capital Territory , the population of the city has grown from 100,000 in 1951 to 1.7 million in 2011...

. ECO Trade Promotion Organization (TPO) is a new organization for trade promotion among member states located in Iran (2009).

Member states

Official name
Capital
Area (km²)
Population
(2010)
Density
(per km²)
GDP (2010)(nominal)
GDP (2010)
(per capita)

Currency
Official languages
Islamic Republic of Afghanistan Kabul
Kabul
Kabul , spelt Caubul in some classic literatures, is the capital and largest city of Afghanistan. It is also the capital of the Kabul Province, located in the eastern section of Afghanistan...

647,500 29,662,000 46 $16,968 million $572 Afghani
Afghan afghani
The Afghani is the currency of Afghanistan. It is notionally subdivided into 100 pul , although there are no pul coins in circulation.-Original Afghani :...

Dari
Dari (Eastern Persian)
Dari or Fārsī-ye Darī in historical terms refers to the Persian court language of the Sassanids. In contemporary usage, the term refers to the dialects of modern Persian language spoken in Afghanistan, and hence known as Afghan Persian in some Western sources. It is the term officially recognized...

, Pashto
Pashto language
Pashto , known as Afghani in Persian and Pathani in Punjabi , is the native language of the indigenous Pashtun people or Afghan people who are found primarily between an area south of the Amu Darya in Afghanistan and...

Republic of Azerbaijan Baku
Baku
Baku , sometimes spelled as Baki or Bakou, is the capital and largest city of Azerbaijan, as well as the largest city on the Caspian Sea and of the Caucasus region. It is located on the southern shore of the Absheron Peninsula, which projects into the Caspian Sea. The city consists of two principal...

86,600 9,040,000 104 $51,787 million $5,728 Manat
Azerbaijani manat
The Manat is the currency of Azerbaijan. It is subdivided into 100 qəpik. The word manat is borrowed from "moneta" which is pronounced as "maneta"...

Azerbaijani
Azerbaijani language
Azerbaijani or Azeri or Torki is a language belonging to the Turkic language family, spoken in southwestern Asia by the Azerbaijani people, primarily in Azerbaijan and northwestern Iran...

Islamic Republic of Iran Tehran
Tehran
Tehran , sometimes spelled Teheran, is the capital of Iran and Tehran Province. With an estimated population of 8,429,807; it is also Iran's largest urban area and city, one of the largest cities in Western Asia, and is the world's 19th largest city.In the 20th century, Tehran was subject to...

1,648,195 75,350,000 46 $359,970 million $4,777 Rial
Iranian rial
The rial is the currency of Iran. It is subdivided into 100 dinar but, because of the very low current value of the rial, no fraction of the rial is used in accounting....

Persian
Persian language
Persian is an Iranian language within the Indo-Iranian branch of the Indo-European languages. It is primarily spoken in Iran, Afghanistan, Tajikistan and countries which historically came under Persian influence...

Republic of Kazakhstan Astana
Astana
Astana , formerly known as Akmola , Tselinograd and Akmolinsk , is the capital and second largest city of Kazakhstan, with an officially estimated population of 708,794 as of 1 August 2010...

2,724,900 15,584,000 6 $126,346 million $8,107 Tenge
Kazakhstani tenge
The tenge is the currency of Kazakhstan. It is divided into 100 tïın . It was introduced on 15th of November 1993 to replace the Soviet ruble at a rate of 1 tenge = 500 rubles...

Kazakh
Kazakh language
Kazakh is a Turkic language which belongs to the Kipchak branch of the Turkic languages, closely related to Nogai and Karakalpak....

Kyrgyz Republic Bishkek
Bishkek
Bishkek , formerly Pishpek and Frunze, is the capital and the largest city of Kyrgyzstan.Bishkek is also the administrative centre of Chuy Province which surrounds the city, even though the city itself is not part of the province but rather a province-level unit of Kyrgyzstan.The name is thought to...

199,900 5,444,000 27 $5,122 million $940 Som
Kyrgyzstani som
The som is the currency of the Kyrgyz Republic in Central Asia. The ISO 4217 currency code is KGS. The som is sub-divided into 100 tyiyn...

Kyrgyz
Kyrgyz language
Kyrgyz or Kirgiz, also Kirghiz, Kyrghiz, Qyrghiz is a Turkic language and, together with Russian, an official language of Kyrgyzstan...

, Russian
Russian language
Russian is a Slavic language used primarily in Russia, Belarus, Uzbekistan, Kazakhstan, Tajikistan and Kyrgyzstan. It is an unofficial but widely spoken language in Ukraine, Moldova, Latvia, Turkmenistan and Estonia and, to a lesser extent, the other countries that were once constituent republics...

Islamic Republic of Pakistan Islamabad
Islamabad
Islamabad is the capital of Pakistan and the tenth largest city in the country. Located within the Islamabad Capital Territory , the population of the city has grown from 100,000 in 1951 to 1.7 million in 2011...

803,940 166,578,000 207 $177,901 million $1,068 Rupee
Pakistani rupee
The rupee is the currency of Pakistan. The issuance of the currency is controlled by the State Bank of Pakistan, the central bank of the country. The most commonly used symbol for the rupee is Rs, used on receipts when purchasing goods and services. In Pakistan, the rupee is referred to as the...

Urdu
Urdu
Urdu is a register of the Hindustani language that is identified with Muslims in South Asia. It belongs to the Indo-European family. Urdu is the national language and lingua franca of Pakistan. It is also widely spoken in some regions of India, where it is one of the 22 scheduled languages and an...

, English
English language
English is a West Germanic language that arose in the Anglo-Saxon kingdoms of England and spread into what was to become south-east Scotland under the influence of the Anglian medieval kingdom of Northumbria...

Republic of Tajikistan Dushanbe
Dushanbe
-Economy:Coal, lead, and arsenic are mined nearby in the cities of Nurek and Kulob allowing for the industrialization of Dushanbe. The Nurek Dam, the world's highest as of 2008, generates 95% of Tajikistan's electricity, and another dam, the Roghun Dam, is planned on the Vakhsh River...

143,100 6,536,000 46 $5,499 million $841 Somoni
Tajikistani somoni
For other articles see the TJ disambiguation pageThe somoni is the currency of Tajikistan. It is subdivided into 100 diram . The currency is named after the father of the Tajik nation, Ismail Samani .-History:...

Tajik
Tajik language
Tajik, Tajik Persian, or Tajiki, is a variety of modern Persian spoken in Central Asia. Historically Tajiks called their language zabani farsī , meaning Persian language in English; the term zabani tajikī, or Tajik language, was introduced in the 20th century by the Soviets...

Republic of Turkey Ankara
Ankara
Ankara is the capital of Turkey and the country's second largest city after Istanbul. The city has a mean elevation of , and as of 2010 the metropolitan area in the entire Ankara Province had a population of 4.4 million....

783,562 71,428,000 91 $710,737 million $9,950 Lira
Turkish lira
The Turkish lira is the currency of Turkey and the de facto independent state of the Turkish Republic of Northern Cyprus. The lira is subdivided into 100 kuruş...

Turkish
Turkish language
Turkish is a language spoken as a native language by over 83 million people worldwide, making it the most commonly spoken of the Turkic languages. Its speakers are located predominantly in Turkey and Northern Cyprus with smaller groups in Iraq, Greece, Bulgaria, the Republic of Macedonia, Kosovo,...

Turkmenistan Ashgabat 488,100 5,439,000 11 $20,232 million $3,720 Manat
Turkmenistani manat
The Manat is the currency of Turkmenistan. It was introduced on November 1, 1993, replacing the Russian ruble at a rate of 1 manat = 500 ruble. The ISO 4217 code is TMM and the manat is subdivided into 100 tennesi...

Turkmen
Turkmen language
Turkmen is the national language of Turkmenistan...

Republic of Uzbekistan Tashkent
Tashkent
Tashkent is the capital of Uzbekistan and of the Tashkent Province. The officially registered population of the city in 2008 was about 2.2 million. Unofficial sources estimate the actual population may be as much as 4.45 million.-Early Islamic History:...

447,400 28,246,000 63 $37,290 million $1,320 Som
Uzbekistani som
The som is the currency of Uzbekistan in Central Asia. The ISO 4217 currency code is UZS.-Etymology:In the Soviet Union, speakers of Kazakh, Kyrgyz and Uzbek called the ruble the som, and this name appeared written on the back of banknotes, among the texts for the value of the bill in all 15...

Uzbek
Uzbek language
Uzbek is a Turkic language and the official language of Uzbekistan. It has about 25.5 million native speakers, and it is spoken by the Uzbeks in Uzbekistan and elsewhere in Central Asia...


Organization structure


The following organs exist:
  • The Council of Ministers ( COM ) is the highest policy and decision-making body and is composed of Ministers of Foreign Affairs or such other representatives of the Ministerial rank as may be designated by the Government. The council of Ministers meets at least once a year by rotation among the Member States.

  • The Council of Permanent Representatives (CPR) is consisting of the Permanent Representatives/Ambassadors of the Member States accredited to the Islamic Republic of Iran as well as to the ECO and the Director General for ECO Affairs of the Ministry of Foreign Affairs of the Islamic Republic of Iran.

  • The Regional Planning Council (RPC) is composed of the Head of the Planning Organization of the Member States or such other representatives of corresponding authorities.

  • The General Secretariat consists of six Directorates under the supervision of the Secretary General and his Deputies. Two Specialized Agencies and six Regional Institutes are acting under the supervision of the General Secretariat.
    • Directorate of Industry
      Industry
      Industry refers to the production of an economic good or service within an economy.-Industrial sectors:There are four key industrial economic sectors: the primary sector, largely raw material extraction industries such as mining and farming; the secondary sector, involving refining, construction,...

       & Agriculture
      Agriculture
      Agriculture is the cultivation of animals, plants, fungi and other life forms for food, fiber, and other products used to sustain life. Agriculture was the key implement in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that nurtured the...

    • Directorate of Trade
      Trade
      Trade is the transfer of ownership of goods and services from one person or entity to another. Trade is sometimes loosely called commerce or financial transaction or barter. A network that allows trade is called a market. The original form of trade was barter, the direct exchange of goods and...

       & Investment
      Investment
      Investment has different meanings in finance and economics. Finance investment is putting money into something with the expectation of gain, that upon thorough analysis, has a high degree of security for the principal amount, as well as security of return, within an expected period of time...

    • Directorate of Energy
      Energy
      In physics, energy is an indirectly observed quantity. It is often understood as the ability a physical system has to do work on other physical systems...

      , Minerals & Environment
      Natural environment
      The natural environment encompasses all living and non-living things occurring naturally on Earth or some region thereof. It is an environment that encompasses the interaction of all living species....

    • Directorate of Transport
      Transport
      Transport or transportation is the movement of people, cattle, animals and goods from one location to another. Modes of transport include air, rail, road, water, cable, pipeline, and space. The field can be divided into infrastructure, vehicles, and operations...

       and Communication
      Communication
      Communication is the activity of conveying meaningful information. Communication requires a sender, a message, and an intended recipient, although the receiver need not be present or aware of the sender's intent to communicate at the time of communication; thus communication can occur across vast...

      s
    • Directorate of Economic Research & Statistics
      Statistics
      Statistics is the study of the collection, organization, analysis, and interpretation of data. It deals with all aspects of this, including the planning of data collection in terms of the design of surveys and experiments....

    • Directorate of Project Research
      Research
      Research can be defined as the scientific search for knowledge, or as any systematic investigation, to establish novel facts, solve new or existing problems, prove new ideas, or develop new theories, usually using a scientific method...


Activities


Activities of ECO are conducted through Directorates under the supervision of Secretary General and his Deputies which considered and evolve projects and programmes of mutual benefit in the fields of:
  • Trade and Investment
  • Transport and Telecommunications
  • Energy, Minerals and Environment
  • Agriculture, Industry and Tourism
  • Human Resources & Sustainable Development
  • Project & Economic Research and Statistics

Objectives

  • Sustainable economic development of Member States;
  • Progressive removal of trade barriers and promotion of intra- regional trade; Greater role of ECO region in the growth of world trade; Gradual integration of the economies of the Member States with the world economy;
  • Development of transport & communications infrastructure linking the Member States with each other and with the outside world;
  • Economic liberalization and privatization;
  • Mobilization and utilization of ECO region's material resources;
  • Effective utilization of the agricultural and industrial potentials of ECO region;
  • Regional cooperation for drug abuse control, ecological and environmental protection and strengthening of historical and cultural ties among the peoples of the ECO region; and
  • Mutually beneficial cooperation with regional and international organizations.

Principles of cooperation

  • Sovereign equality of the Member States and mutual advantage;
  • Linking of national economic, development plans with ECO's immediate and long-term objectives to the extent possible;
  • Joint efforts to gain freer access to markets outside the ECO region for the raw materials and finished products of the Member States;
  • Effective utilization of ECO institutions, agreements and cooperative arrangements with other regional and international organizations including multilateral financial institutions;
  • Common endeavors to develop a harmonized approach for participation in regional and global arrangements;
  • Realization of economic cooperation strategy; and Exchanges in educational, scientific, technical and cultural fields

Regional institutions & Specialized agencies


  • ECO Shipping Company
  • ECO Chamber of Commerce and Industry
  • ECO Reinsurance Company
  • ECO Trade & Development Bank
  • ECO Consultancy & Engineering Company
  • ECO Supreme Audit Institutions
  • ECO Cultural Institute
  • ECO Science Foundation
  • ECO Educational Institute
  • ECO Drug Control Coordination Unit
  • ECO Trade promotion Unit
  • ECO Post

ECO Trade and Development Bank


The Economic Cooperation Organization Trade and Development Bank (the Bank) was established by the three founding members of the Economic Cooperation Organization (ECO) in 2005; Iran, Pakistan and Turkey. Its subscribed capital is 300 million SDR
Special Drawing Rights
Special Drawing Rights are supplementary foreign exchange reserve assets defined and maintained by the International Monetary Fund . Not a currency, SDRs instead represent a claim to currency held by IMF member countries for which they may be exchanged...

, which is to be paid by the member countries equally. For the first five years starting from November 2006, the first President of the Bank is from Turkey (Mr. Murat Ulus) and the position of the President will pass to other member countries on a four-year rotation basis after the first five years. The headquarters of the Bank is in Istanbul
Istanbul
Istanbul , historically known as Byzantium and Constantinople , is the largest city of Turkey. Istanbul metropolitan province had 13.26 million people living in it as of December, 2010, which is 18% of Turkey's population and the 3rd largest metropolitan area in Europe after London and...

, Turkey.

The mission of the ECO Trade & Development Bank is to initiate, promote and provide financial facilities to expand intra-regional trade and to promote the economic development of ECO member countries.

ECO Cultural Institute (ECI)


ECO Cultural Institute (ECI) is affiliated with ECO and aims at fostering understanding and the preservation of the rich cultural heritage
Cultural heritage
Cultural heritage is the legacy of physical artifacts and intangible attributes of a group or society that are inherited from past generations, maintained in the present and bestowed for the benefit of future generations...

 of its members through common projects in the field of the media
Mass media
Mass media refers collectively to all media technologies which are intended to reach a large audience via mass communication. Broadcast media transmit their information electronically and comprise of television, film and radio, movies, CDs, DVDs and some other gadgets like cameras or video consoles...

, literature
Literature
Literature is the art of written works, and is not bound to published sources...

, art
Art
Art is the product or process of deliberately arranging items in a way that influences and affects one or more of the senses, emotions, and intellect....

, philosophy
Philosophy
Philosophy is the study of general and fundamental problems, such as those connected with existence, knowledge, values, reason, mind, and language. Philosophy is distinguished from other ways of addressing such problems by its critical, generally systematic approach and its reliance on rational...

, sport
Sport
A Sport is all forms of physical activity which, through casual or organised participation, aim to use, maintain or improve physical fitness and provide entertainment to participants. Sport may be competitive, where a winner or winners can be identified by objective means, and may require a degree...

 and education
Education
Education in its broadest, general sense is the means through which the aims and habits of a group of people lives on from one generation to the next. Generally, it occurs through any experience that has a formative effect on the way one thinks, feels, or acts...

.

ECI's Charter was signed on 15 March 1995 in Islamabad, Pakistan.

Relationship with other organizations


All the ECO states are also member-states of the Organisation of the Islamic Conference (OIC), while ECO itself has observer status in the OIC since 1995.

Secretaries General

# Name Nat Period
1 Alireza Salari   1988 - 1992
2 Shamshad Ahmad   1992 - 1996
3 Onder Ozar   1996 - 2000
4 Abdolrahim Gavahi   August 2000 - July 2002
5 Seyed Mojtaba Arastou   July 2002 - August 2003
6 Bekzhassar Narbayev   August 2003 - January 2004
7 Askhat Orazbay   January 2004 - August 2006
8 Khurshid Anwar   August 2006 - August 2009
9 Yahya Maroofi
Yahya Maroofi
Mohammad Yahya Maroofi was nominated on February 2, 2002, as Special adviser to the Afghan president Hamid Karzai, President of the Interim Government of Afghanistan...

  August 2009 - August 2012

See also

  • Middle East economic integration
    Middle East economic integration
    Middle East economic integration has been envisioned, proposed or implemented by various parties in recent history.The stated rationale is that peace, stability and prosperity in the Middle East can only be sustained over the long-run through intra-regional economic cooperation.Governance,...

  • International rankings of Iran
  • White card system - motor insurance scheme of ECO

External links


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