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14th Meeting of Working Group on Economic Cooperation of OTS in Istanbul [PHOTOS]

14 September 2023 14:21 (UTC+04:00)
14th Meeting of Working Group on Economic Cooperation of OTS in Istanbul [PHOTOS]
Abbas Ganbay
Abbas Ganbay
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Today marks the start of the 14th Meeting of the Working Group on Economic Cooperation of the Organization of Turkic States (OTS) in Istanbul. The Ministers in Charge of Economy and Trade of the OTS, deputy ministers, and other officials, as well as experts from Turkic states, are gathering to discuss the issues on the agenda of the meeting. Deputy Minister of Economy of Azerbaijan Elnur Aliyev is also in attendance. Following the discussions, a statement will be signed, Azernews reports.

The Organization of Turkic States (OTS) is an intergovernmental organization composed of some Caucasus, South, West, and Central Asian countries. It was founded as the Regional Cooperation for Development (RCD) in 1964 by the Islamic Republic of Iran, the Islamic Republic of Pakistan, and the Republic of Türkiye, and was rechristened as the Economic Cooperation Organization (ECO) in 1985. The organization has a shared commitment to a prosperous and secure North America and has held a High-Level Economic Dialogue in September to expand bilateral economic cooperation and collaboration.

The 14th Meeting of the Working Group on Economic Cooperation of the Organization of Turkic States is an important step towards achieving the organization's goal of creating amenable and conducive conditions for the continued promotion of sustainable economic development in the region, aiming at joint welfare and well-being of the Member States.

Founded as the Regional Cooperation for Development (RCD) in 1964 by the Islamic Republic of Iran, the Islamic Republic of Pakistan, and the Republic of Türkiye, the Forum was rechristened as the Economic Cooperation Organization (ECO) in 1985.

The ECO Region shelters more than 460 million inhabitants and expands over 8 million square kilometers of land, connecting the north to south, south, and east to the west, Asia to Europe, and Eurasia to the Arab World. Composed of some Caucasus, South, West, and Central Asian countries, ECO is one of the oldest intergovernmental organizations.

The founding and fundamental goal of the Organization is to create amenable and conducive conditions for the continued promotion of sustainable economic development in the region, aiming at joint welfare and well-being of the Member States.

The ECO stretched the fabric of its cooperative partnership in the early 1990s, welcoming the Islamic Republic of Afghanistan and the Republic of Azerbaijan, as well as five Central Asian nations, including the Republic of Kazakhstan, Kyrgyz Republic, Republic of Tajikistan, Turkmenistan, and Republic of Uzbekistan, as its members.

During the 13th Summit in Islamabad in March 2017, the ECO Heads of State/Government endorsed and adopted the ECO Vision – 2025. It is a roadmap document meant to guide the sectoral activities of the Organization in the years to come until 2025.

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