Azerbaijan constructively participates in ECO initiatives – MP
Since joining the Economic Cooperation Organization (ECO), Azerbaijan has constructively participated in the organization’s initiatives designed to enhance economic and trade ties in the region, Chairman of the Parliamentary Committee on Economic Policy, Industry, and Entrepreneurship Tahir Mirkishili told News.Az.
The lawmaker said this year marks the 30th anniversary of Azerbaijan’s membership to the ECO. He noted that Azerbaijan remains interested in expanded mutually beneficial cooperation in achieving the goals and tapping the economic potential of the region.
MP Mirkishili pointed out that the intra-regional trade of the ECO region is approximately at US$ 53 billion.
“With eight million square kilometers of land and 500 million inhabitants as well as composing 6% of the global population, the ECO region has an ample potential to become the regional economic power through institutionalized trade policy reforms where the member nations would formulate trade policies with mutual consensus, whereas their economic block would attract enhanced domestic and foreign investments,” he added.
On Tuesday, Baku hosted the 3rd General Conference of the Parliamentary Assembly of the Economic Cooperation Organization (ECO PA). During the event, Azerbaijan took over the chairmanship of the ECO Parliamentary Assembly from Pakistan.