ECO Sec.-Gen.: MoU on ECO trade facilitation ready for signing

The work on the Memorandum of Understanding on cooperation in the field of trade facilitation among the member states of the Economic Cooperation Organization (ECO) has been completed and is ready for signing since June 25, 2025, ECO Secretary General Asad Majeed Khan said during the sixth business forum of the organization, which is being held in Shusha, Azerbaijan, Report informs.

The main goal of the memorandum is to strengthen coordination and expand cooperation among the member states of the organization to develop intraregional trade and investment.

"Through a more structured and joint approach, we hope to increase the visibility of ECO markets and establish commercial ties in the region. We call on all member states to complete their internal procedures as soon as possible and begin signing when they are ready," the secretary general noted.

He also called on all member states to submit specific proposals for joint trade development activities for 2025 and 2026.

"We really need to do more in this area as there are not enough opportunities to establish contacts. Therefore, these initiatives can be compiled into a calendar of joint ECO trade promotion activities, which will be updated annually and will become a practical tool for coordination among national organizations," Asad Majeed Khan said.

The secretary general noted that he is ready to sign a memorandum on enhancing legal cooperation between customs services of the ECO countries.

"This is an important milestone for deepening legal cooperation between customs services. It is time to launch all the necessary internal procedures so that the document becomes operational as soon as possible," he said.

The secretary general reminded that a trade facilitation strategy was adopted this year.

"This strategy brings our priorities closer to international best practices, in particular in line with the WTO Trade Facilitation Mechanism, while taking into account the specifics of each country," he stressed.