Focuses on Trade Barrier Elimination During ECO Leadership, as Stated by Astana
Hitting the Gas Pedal on Regional Growth: Kazakhstan's Game Plan for ECO
ASTANA - With its seat at the helm of the Economic Cooperation Organization (ECO), Kazakhstan is revving up efforts to dismantle trade hurdles and boost logistics connectivity, as underscored by Deputy Prime Minister Galymzhan Koishybayev at the inaugural ECO Ministerial Forum on Sustainable Development in Arkadag, Turkmenistan.
According to insider scoop, Koishybayev set his sights on unifying standards and conjuring digital platforms to fortify economic integration within the ECO fold. With sustainability slickly woven into the agenda, the forum welcomed ministers, senior officials, international organization reps, civic leaders, academics, and private sector bigwigs.
Founded in '85, the ECO union comprises ten member nations—Turkmenistan, Afghanistan, Azerbaijan, Iran, Kazakhstan, Kyrgyz Republic, Pakistan, Tajikistan, Türkiye, and Uzbekistan—aiming to foster economic growth and transform the region into a bustling economic hub.
In a heart-to-heart with Turkmenistan's Halk Maslahaty (People's Council) chief Gurbanguly Berdimuhamedov, Koishybayev raised an eco-friendly green flag for a joint venture in industries, energy, transport, logistics, agriculture, and more, all while craving a green corridor to fast-track these projects. Gas, it seems, could be the golden ticket to enhancing bilateral economic ties.
Not one to play it cool, Koishybayev's diplomatic dance extended to a sit-down with Iranian Vice President Hamid Pourmohammadi, during which both parties celebrated the vigor of their bi-lateral tête-à-têtes, the escalating intensity of multi-lateral chats, and the immense potential for trading partnerships.
ECO's strategy vigilantly considers new strategic transport corridors as key to stirring trade development and supporting economic convergence. With the Middle Corridor (Trans-Caspian International Trade Route, or TITR) emerging as a popular alternate route for global commerce, Kazakhstan is spearheading measures to improve logistics infrastructure, like deepening port depths, to boost cargo capacity and support safer navigation for seafaring cargo carriers.
Beyond abolishing trade hindrances and forging new transport links, the ECO alliance also throws a spotlight on digital transformation and food security as critical calling cards for sustainable development within the region.
- Galymzhan Koishybayev, as the Chairman of Kazakhstan during its chairmanship of the Economic Cooperation Organization (ECO), aims to use digital platforms to strengthen economic integration within the ECO.
- Koishybayev's vision for ECO includes joint ventures in various industries such as energy, transport, logistics, agriculture, and more, with a focus on sustainability.
- The private sector, along with ministers, senior officials, international organization reps, civic leaders, and academics, were present at the ECO Ministerial Forum on Sustainable Development to discuss these initiatives.
- To enhance bilateral economic ties, Koishybayev discussed potential trading partnerships with Iranian Vice President Hamid Pourmohammadi, and gas could potentially serve as the golden ticket for this partnership.
