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Everything You Need To Know About The Economic Cooperation Organization (ECO)

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26.10.2024

He writes on a diverse range of topics such as geopolitics, economy, social inequality, governance, and other important current affairs stories in national and international spheres.

One of the oldest regional intergovernmental organizations in Asia, the Economic Cooperation Organization (ECO) was formed in Tehran on July 15, 1984. It was established by restructuring and reforming its predecessor, Regional Cooperation for Development, through a trilateral effort of Pakistan, Iran, and Turkey. ECO’s primary objectives focus on promoting regional trade, bolstering economic development, and fostering cultural links among member states.

Using the existing channels of historical affinity and brotherhood, ECO sought to establish trade and connectivity and strengthen cultural bonds in the region. Its headquarters or “secretariat” is located in Tehran.

Among the member states, there are 10 countries-Pakistan, Iran, Türkiye, Azerbaijan, Afghanistan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. These countries are located in various parts of the world encapsulating West and South Asian region, the Caucuses, and Central Asia.

Moreover, the Turkish Republic of Northern Cyprus, the Organization of Turkic States, and the International Energy Charter are observers within the ECO.

The failure of the Regional Cooperation for Development (RCD) to meet its goals and objectives led to rethinking among members to establish a new body built on shared history of kinship and fraternity among founding members.

Owing to political instability and turbulent events such as the Islamic Revolution in Iran (1979) and the Soviet Invasion of Afghanistan (1979), dreams of a regional economic body collapsed in the 1980s. In 1985, ECO was born out of the ashes of RCD in Tehran.

Once again after its revival in 1985 into a new intergovernmental organization, ECO became functional through the concerted efforts of the founding members and their commitment to enhance economic cooperation. Furthermore, seven more members from the Central Asian Republics and West Asia joined the organization by signing the Treaty of Izmir (1982). These countries included five Central Asian nations, including Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. Afghanistan and Azerbaijan also came along.

ECO is a significantly important organization due to several factors. First, the ECO region covers an area of around 8 million km2, nearly double the territorial size of the European Union. It also comprises 6.6.% of the world population which is roughly half a billion or so. Second, the region has a huge wealth of natural resources, an unmatched geo-strategic location, and a rich cultural, philosophical, and linguistic heritage.

Third, ECO is at the core of one of the world’s most geopolitically tense and significant landmasses, sharing a border with Russia, China, the Indian Ocean, the Persian Gulf, and the Caspian Sea. Last but not least, the Silk road which passes through the modern ECO region has been at the crossroads of travelers and tradesmen.

ECO’s areas of cooperation include transport, energy, telecommunications, agriculture, and more.

ECO’s primary objectives encapsulate various areas including socio-economic development, effective multilateralism, economic integration, trade liberalization, agricultural cooperation, energy export, and telecommunication networks. It also aims at the joint welfare and well-being of the member states.

In simple words, ECO was established to promote........

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