Economic Cooperation Organization
Asian political and economic intergovernmental organization
Economic Cooperation Organization
The Economic Cooperation Organization or ECO is a Eurasian political and economic intergovernmental organization that was founded in 1985 in Tehran by the leaders of Iran, Pakistan, and Turkey. It provides a platform to discuss ways to improve development and promote trade and investment opportunities. The ECO is an ad hoc organisation under the United Nations Charter. The objective is to establish a single market for goods and services, much like the European Union. After the dissolution of the Soviet Union, the ECO expanded to include Afghanistan, Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan in 1992. The current framework of the ECO expresses itself mostly in the form of bilateral agreements and arbitration mechanisms between individual and fully sovereign member states. Similar to ASEAN, the ECO maintains dedicated secretariats and administrative bodies to coordinate trade among its member states. Regional initiatives include cross-border agricultural...
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