Sample Solution

The ECO member states constitute a region, which is endowed with vast potential in field of mineral, wealth and energy resources, both oil and gas. The ECO region has also been known as for its huge natural resources such as cotton, wheat, coal and hydroelectricity. To add up to these are the great assets of human resources of more than hundred million energetic people. Their territories are contiguous making movement goods and services between each other relatively easy. The Central Asian States have surplus energy resources. Iran floats on oil and Turkey has a reasonable industrial base. Pakistan possesses well-developed Argo based industries with the approach to the sea for landlocked neighbors. It is also the shortest route for the exports of Central Asian oil and gas to East Asia (Bokhari,1999).
The main goals of ECO are based on economic expansion; therefore the major areas for this organization have been trade and infrastructure improvement. The development of transport and communication infrastructure is essential for promotion of trade; therefore this segment of economy has always been given chief worth in the program of ECO’s summits. Following progress was made in this regard. The first summit was held in Tehran in February 16-17-1992. In that meeting the member states agreed that the efforts would be made to continue the process of elimination of long and short term barriers to trade and all subsides at the earliest. At the end of the summit a joint communiqu?? was issued in which the heads of state/government, considered the membership request of Azerbaijan, Turkmenistan, Uzbekistan, Tajikistan, and Kyrgyzstan and decided to admit them as members of ECO. The members also agreed on the list of items to be traded on the preferential tariffs among the ECO countries and a non-tariff barrier together with all subsides on export (Bhatti, 1995).
in May 1992 the leaders of the Central Asian Republics, as well as the original ECO members, Iran, Pakistan and Turkey, assembled at Ashkabad, on special initiative of President Saffer Murad Niyazov of Turkmenistan in which in effect shaped into the first ‘working session’ of the expanded Economic Cooperation Organization. The participating leaders declared their intension of joining forces to exploit their resources and raw materials for the progress and well-being of all the all member countries. That Summit considered a wide range of economic and political issues relating to economic development, as well as peace and stability. 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 o