ECO Friendship Forum
Business leaders have established a new ECO Friendship Forum to develop closer trade relations with the Economic Cooperation Organisation (ECO) members and Central Asian States to overcome the current economic crisis of the country.
The business people felt that instead of wasting time in other regional blocs which are more politicised, Pakistan should move closer to the ECO member states to resolve its economic issues and become part of a market of 400 million people.
According to the founding chairman of the ECO Friendship Forum, Mohammad Farooq Afzal, regional blocs like SAARC have not been able to meet the desired objectives due to political differences among the member states. Therefore, ECO Friendship Forum has been established to vigorously work for promotion of close trade relations between Pakistan, Afghanistan, Iran, Turkey and CIS states.
The ECO forum believes that most of the country’s economic problems would be resolved through proactive trade relations with ECO member countries. Along with a roadmap to achieve this goal, the forum aims to organize single country exhibitions and frequent exchanges of trade delegations. The forum has also demanded the government’s support in providing incentives such as freight subsidy and lower tariffs