MOSCOW, 1 September (BelTA) – On the sidelines of the SCO summit in Tianjin, Chairman of the Board of the Eurasian Economic Commission (EEC) Bakytzhan Sagintayev held a working meeting with Secretary General of the Economic Cooperation Organization (ECO) Asad Majeed Khan, the EEC press service told BelTA.
The parties discussed issues of interaction between the two integration associations. Bakytzhan Sagintayev noted that the trade turnover between the Eurasian Economic Union (EAEU) and ECO in 2024 increased by 2.4 times compared to 2015, amounting to $98.1 billion.
“The Commission highly appreciates the role and potential of the ECO, one of the oldest and most influential intergovernmental structures uniting key countries from South Asia to the Caucasus and Central Asia. We see significant synergy between the goals of the EAEU and the ECO Vision 2025, particularly in promoting sustainable economic development, enhancing interconnectedness and integration,” Bakytzhan Sagintayev said.
The parties believe that an effective dialogue aimed at solving common tasks can be established between the ECO Secretariat and the Eurasian Economic Commission. To this end, Bakytzhan Sagintayev proposed that Asad Majeed Khan consider the possibility of signing a memorandum of understanding. Issues such as the liberalization of trade and economic relations, the creation of joint transport and logistics routes, the development of industrial cooperation and industrial innovation infrastructure, and the increase in trade of agricultural products are seen as promising for discussion. One of the important areas of potential cooperation could be a dialogue between business communities with the involvement of the EAEU Business Council.
“The parties expressed confidence that the exchange of expertise between the EEC and the ECO Secretariat will contribute to the coordination and synergy of common efforts aimed at the economic development of the member states of the integration associations. At the end of the meeting, Bakytzhan Sagintayev invited Asad Majeed Khan to visit the headquarters of the Eurasian Economic Commission in Moscow,” the press service added.
The Economic Cooperation Organization was established in 1964. Its members include Azerbaijan, Afghanistan, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Turkmenistan, Türkiye, and Uzbekistan. The headquarters of the ECO Secretariat is located in Tehran. The territory of the ECO member states covers about 8 million square kilometers with a population of over 500 million people.
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