TASHKENT: During the 16th Economic Cooperation Organisation (ECO) Summit held in Tashkent, Kyrgyz President Sadyr Japarov emphasized the potential of ECO as a pivotal tool for regional integration.
Japarov highlighted the importance of integration based on common economic interests, identifying it as a key element for the future vision of the member states.
President Japarov outlined a comprehensive vision for development cooperation within the ECO format, focusing on crucial areas such as trade, transport and logistics, energy security, and information and communication sectors. The vision aims to foster collaboration and synergy among member states to enhance economic ties and regional integration.
Uzbekistan, another active participant in the summit, proposed the creation of interregional transit hubs, the development of modern transport and road infrastructure, optimization of transport and transit tariffs, simplification of conditions for international freight and passenger traffic, and the introduction of digitalization in the transport industry.
Uzbek President Shavkat Mirziyoyev further introduced an initiative for the active joint development of a green economy. The proposal includes the widespread adoption of resource-saving technologies in industrial sectors and the pursuit of carbon neutrality, aligning with global efforts for environmental sustainability.
The ECO countries currently stand as the largest trade partners of Uzbekistan. The trade turnover between Uzbekistan and ECO countries reached $12.3 billion last year and amounted to $5.8 billion in January-July 2023, underscoring the significance of economic collaboration within the ECO framework.
Established in 1985 by Turkiye, Pakistan, and Iran, the ECO serves as an inter-governmental organization to facilitate discussions on development, promote trade, and explore investment opportunities. The organization has expanded to include seven additional members: Afghanistan, Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan.
