ECO set to sign crucial pacts to boost intra-regional cooperation

The Economic Cooperation Organization (ECO) has finalized two pivotal documents aimed at strengthening cooperation among its member states, with both set to be signed in the near future.

ECO Secretary General Asad Majeed Khan announced these developments during the ECO Business Forum held on July 2, emphasizing their significance for regional integration and trade facilitation, Caliber.Az reports.

“The Memorandum of Understanding concerning collaboration on joint trade promotion initiatives among ECO member states has been finalized and is slated for signing as early as June 25, 2025. The main objective of this MoU is to improve coordination and strengthen our joint efforts to promote intra-regional trade, investment and enterprise-to-enterprise interaction,” Khan explained.

He urged all member countries to expedite their internal approval processes and proceed with the signature at the earliest opportunity.

In addition, Khan called upon ECO countries to submit concrete proposals for joint trade facilitation initiatives planned for 2025 and 2026, underscoring the organization’s commitment to practical collaboration that drives economic growth across the region.

The second document, an agreement on mutual administrative assistance in customs matters, has also been finalized and is now open for governmental signature. “This agreement marks an important milestone in our efforts to formalise and deepen legal cooperation between the customs services of our member countries,” Khan stated. He highlighted the necessity for member states to complete their internal procedures swiftly to ensure the agreement’s entry into force, enabling enhanced operational cooperation.

By Vafa Guliyeva