Sample Solution

The most significant outcome of the Ashkabad summit was an agreement to erect a new railroad connecting all the member states and a project of gas pipeline and a highway. (Bhatti, 1995).
The third Ministerial conference of ECO at Quetta on 6 & 7 February 1993, proved to be singularly successful in every way. The choice of the capital of Baluchistan for the moot proved to be a happy one: it served to highlight the role that the province could play in the most crucial sphere of cooperation, namely, transport and communications. The Quetta plan of action was adopted by the Ministerial representatives. Setting the goal of achieving its objectives by the year 2000, the ministerial council adopted guidelines in seven specified areas of cooperation: Transport and Communication, Trade, energy, Industry, Agriculture, Tourism, and Human Resource Development. Trade within the region was too expanded, and the council of ministers directed the Economic and Commercial Committee to work towards the abolition of tariff and non-tariff obstacles between the member countries, as also to examine the possibility of expanding preferential tariff arrangements to include the member countries. At that time it was noted that certain developments during and after the Quetta meeting raised hopes of additional benefits to the region through ECO (Bhatti, 1995).
The second ECO summit was organized in Istanbul on 6th &7th of July 1993 in which took many essential decisions to achieve the objectives agreed on at Quetta. It approved the accord to establish the headquarters of Economic Cooperation Organization shipping and airline companies in Iran, ECO Reinsurance Company in Pakistan and the ECO trade and development bank in Turkey (Bhatti, 1995).
An Overview of ECO key Economic and Trade Agreements
The key progress in the fields of economic and trade under the umbrella of ECO is under:
ECO Reinsurance Company 1995
The three member countries i.e. Iran, Pakistan and Turkey agreed to set up the ECO Rei