ECO Summit spotlights trade gaps, regional connectivity ambitions

At the 17th Economic Cooperation Organization (ECO) Summit, regional leaders gathered to chart a new course for economic collaboration across member states. Amid growing geopolitical shifts and environmental challenges, Uzbek President Shavkat Mirziyoyev called attention to the bloc’s underwhelming $94 billion trade turnover, urging the creation of “green corridors” and deeper investment ties.

Mirziyoyev highlighted the current state of intra-ECO trade, noting that despite significant potential, the volume remains modest, Caliber.Az reports via local media.

According to Mirziyoyev, last year’s trade turnover among ECO members reached $94 billion—a figure he described as insufficient given the region’s capabilities. Emphasizing the need to enhance connectivity and economic integration, the Uzbek leader advocated for the creation of a system of “green” corridors aimed at facilitating smoother, more sustainable trade flows. He also introduced an initiative designed to improve the investment climate across member countries, encouraging greater cross-border cooperation.

Mirziyoyev further addressed recent geopolitical developments, stressing the strategic importance of transport corridors in maintaining regional stability and economic resilience. He specifically pointed to the future linkage between the transport corridor originating in China and the Trans-Afghan Transport Corridor, underscoring its potential to boost trade and connectivity across the region.

The Uzbek leader also expressed full support for the outcomes of the COP29 climate conference held in Baku, reaffirming Tashkent’s commitment to global climate action and regional cooperation.

President Mirziyoyev extended his congratulations to Azerbaijan for the ongoing reconstruction and development of its liberated territories, highlighting the significance of peace and prosperity in the region.

Transitioning from economic themes to environmental imperatives, Pakistan’s Prime Minister Muhammad Shehbaz Sharif delivered a sobering assessment of the climate crisis confronting ECO member states and beyond.

Sharif described Pakistan as one of the countries most vulnerable to climate change, drawing attention to the widespread and devastating impacts already being felt. These include melting glaciers, desertification, extreme heatwaves, catastrophic floods, and declining agricultural yields—phenomena threatening food security and livelihoods across millions in the region.

Expressing his support for the summit’s timely focus on climate issues, Sharif detailed the severity of recent floods in Pakistan, which resulted in a tragic loss of life and widespread displacement. “For my country and many others, the topic of climate change and its impacts is of paramount importance,” he said, calling for urgent collective action to mitigate these risks.

By Vafa Guliyeva