Salehi : ECO Members Enjoy High Potential For Economic Development

Baku, Oct 16, IRNA – Foreign Minister Ali-Akbar Salehi said on Monday that the Economic Cooperation Organization (ECO) members enjoy high potential for economic development. Addressing the 20th ECO Foreign Ministers’ meeting, Salehi said the ECO members have proper capacity for expansion of trade cooperation with one another and that facilitating economic cooperation among the members would prepare the ground for development of their national economy. He said Iran can play an important role in the transportation sector and expansion of railway links among the ECO members would play an effective role in the growth of regional trade. Emphasizing cultural cooperation among the ECO members, Salehi said expansion of cultural cooperation would provide a good opportunity for the members to further upgrade their national economy. He also stressed the need for making use of financial mechanisms in the ECO zone and said ECO Bank would be influential in furthering trade among the members. He hoped that during Azerbaijan’s ECO presidency, the members would witness promotion of the Organization’s status, serving as a successful model in the region. He said an overview of Iran’s activities in the past shows the country has had good cooperation with the Organization in providing it with necessary support./end