Sample Solution

ECO Reinsurance Company 1995
The three member countries i.e. Iran, Pakistan and Turkey agreed to set up the ECO Reinsurance Company in March 1995 in Islamabad. The aims of Company are at supplementing the obtainable reinsurance services in the area, promoting the expansion of national capitalizing and preservation abilities, minimizing the loss of foreign exchange from the area and supporting economic progress among the member countries.(ECO at a Glance).
Almaty Outline plan, 1997

This plan was an elaboration of the Quetta Plan which suggested the interlink of road & Railway networks of Central Asian Republics (CAR’s) with the linked roads & railways of Iran, Turkey and Pakistan. It further looked for the construction of lost links of roads and railway tracks. Another important goal of this plan was to unlock international road transportation among member states(Bhatti, 1995).

ECOTA 2003
That ECO Trade Agreement was chalked out to institute free trade zone in the region by 2015. It was determined to reduce the tariffs of the goods traded from 80 % to 15 %. That accord at that time was not endorsed by Iran due to her differences with Turkey over tariff issues (ECO at a Glance)
ECO TDB 2007