Economic Cooperation Organization Chambers of Commerce and Industry (ECO-CCI) is considering the introduction of permanent joint investment programme in the member countries. The move is aimed at harmonizing the member states' investment related laws, said President Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Mian Muhammad Adrees at a press conference.
He was briefed journalists about his recent visit to Iran and Turkey wherein he attended regional planning conference as well as ECO CCI executive committee's meeting with representatives of member countries. "In Turkey, we suggested holding ECO trade fair, which was highly appreciated. Besides, we also wished to organise ECO-SAARC and ECO ASEAN Business Forums with a vision to further strengthen the mutual economic ties," he added.
Asked about the total trade volume among the ECO countries he could not share the actual figure and went on saying, "the volume of trade is much less than the time since the establishment of ECO."
He said there was an untapped market for Pakistan in the ECO countries which needed to be explored and exploited. He said that sincere efforts were being made in this regard. In the meetings, it was unanimously decided to set up an arbitration centre primarily aimed at resolving trade-related issues among the member countries. Considering the ongoing rating programs of member counties, we also suggested to design ECO CCI rating programme, he said.
"We attended another meeting at D-8 chambers, wherein the representatives gave briefing on economic condition of their respective countries. It was decided that a technical committee will be formed in order to amend the D-8 charter and to finalize the future action plan. In this regard, the committee would hold its meeting in Turkey in February 2016," he added.
"Pakistan suggested the need to formulate a new D-8 charter as the present one carries various flaws," Adrees said. "A few months back, ECO secretariat had issued us a 'charge sheet' seeking annual performance report. Perhaps, they feared that Pakistan has forgotten the ECO CCI's task; however, when we presented the same before the representatives of member countries, it was highly appreciated. Our efforts were praised even in the ECO CCI conference's minutes. We have strengthened Pakistan's position in the international circle," he added.
We have celebrated ECO Day first time in Pakistan, and laid foundation of ECO CCI secretariat in a separate building here. "I requested the Prime Minister Nawaz Sharif to provide some Rs 50 million to construct the ECO CCI secretariat building from the export development fund (EDF)" Waseem Vohra Vice President FPCCI also spoke on this occasion.