President Alvi to attend 15th ECO summit in Asghabat on Nov 28

ISLAMABAD: President Dr Arif Alvi will probably be on an official go to to Turkmenistan to attend the 15th summit of the Financial Cooperation Group (ECO), being held in Ashgabat on November 28.

The ECO summit will probably be chaired by President of Turkmenistan Gurbanguly Berdimuhamedov, the Overseas Workplace mentioned in a press release on Friday.

The theme of the summit this yr is ‘Into the Future Collectively’ and also will assessment the actions of the organisation and undertake ‘Ashgabat Consensus for Motion’ as the end result doc.

The president will tackle the plenary session of the summit and can be anticipated to carry bilateral conferences with collaborating leaders on the sidelines of the ECO Summit.

The ECO is a regional financial commerce and growth organisation established in 1985. Pakistan, Iran and Turkey are its founding members. The three nations had been earlier a part of the RCD (Regional Cooperation for Improvement), established in 1964.

In 1992, the ECO expanded to incorporate Azerbaijan, Turkmenistan, Uzbekistan, Tajikistan, Kyrgyzstan and Kazakhstan. Afghanistan additionally grew to become a member later.

The ECO area is positioned within the neighbourhood of China, Europe, Russia and the Gulf States.

It includes 6.three per cent of the world inhabitants. It contributes greater than 2 per cent to international commerce with round three per cent share in international GDP.

The area is wealthy in fossil gas and mineral assets. The intra-region commerce is eight per cent. The principle buying and selling companions of the area embody EU, China and the US.

Pakistan hosted the 13th ECO Summit in Islamabad in 2017, whereas the 14th ECO Summit was hosted by Turkey in a digital format.

Moreover reviewing ECO programmes and actions, the summit assembly can even take into account the mid-term assessment of ECO Imaginative and prescient 2025.

Imaginative and prescient 2025 was adopted in 2017 through the 13th summit held in Pakistan. It serves as an overarching coverage roadmap for the long run and revival of ECO and offers tips for cooperation in commerce, connectivity, vitality, tourism, financial progress, social welfare and the surroundings.

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