Focusing on Eliminating Trade Barriers During Tenure as ECO Chair: Astana's Agenda
Astana, during its reign as chair of the Economic Cooperation Organization (ECO), is zeroing in on eliminating trade obstacles and boosting logistics connectivity, as Deputy Prime Minister and Kazakhstan's Chief of Staff, Galymzhan Koishybayev, announced at the inaugural ECO Ministerial Forum on Sustainable Development held on April 27-29 in Arkadag, Turkmenistan.
The first ECO Ministerial Forum on Sustainable Development. Credit: primeminister.kz
Koishybayev underscored that Kazakhstan shifts its focus towards unifying trade standards, creating digital platforms, and advocating for economic integration within the region. With the aim of fostering harmonious trade and economic growth, Kazakhstan wants to pave the way for more efficient commerce across the region by ironing out trade regulations and streamlining customs procedures.
During a meeting with Chairman of the Halk Maslahaty (People's Council) of Turkmenistan, Gurbanguly Berdimuhamedov, Koishybayev expressed enthusiasm towards establishing a green corridor to make headway on joint ventures in industry, energy, transport and logistics, agriculture, and other sectors. Koishybayev illustrated that tighter cooperation in the gas industry could substantially bolster bilateral economic partnerships.
Koishybayev seized the opportunity to meet with Iran's Vice President Hamid Pourmohammadi, a rendezvous in which both parties emphasized the positive trajectory of bilateral engagements at all levels, enhanced cross-sector engagement, and remarkable potential for mutual trade and economic collaborations.
The gathering brought together ministers, high-ranking officials, representatives from international organizations, members of civil society, academia, and the private sector from ECO member states.
Founded in 1985, the ECO consists of ten members: Turkmenistan, Afghanistan, Azerbaijan, Iran, Kazakhstan, the Kyrgyz Republic, Pakistan, Tajikistan, Türkiye, and Uzbekistan.
During Kazakhstan's tenure as chair, regional connectivity and sustainable development are the emphasis, with specific initiatives geared towards trade, logistics, standardization, and digitalization. Significant steps include prioritizing strategic transport corridors, improving cross-border transit efficiency, and advocating for unified trade standards and digitalization across various sectors to boost transparency and reduce administrative barriers. Furthermore, sustainable initiatives such as the RESCUE Initiative, an alliance to promote circular economy practices and green investment, and harnessing renewable energy sources to bolster the region's energy output, are of paramount importance. These ambitious plans align with Kazakhstan's stated mission to unlock the ECO's vast potential through joint ventures and international partnerships, especially in the areas of climate resilience and infrastructure modernization.
- Koishybayev, during Kazakhstan's tenure as chair of the Economic Cooperation Organization (ECO), is focusing on unifying trade standards and advocating for economic integration within the region, as he mentioned at the first ECO Ministerial Forum on Sustainable Development.
- In a meeting with Chairman of the Halk Maslahaty (People's Council) of Turkmenistan, Koishybayev proposed establishing a green corridor to foster joint ventures in various sectors, including industry, energy, transport and logistics, agriculture, and finance.
- With a goal to boost transparency and reduce administrative barriers, Kazakhstan, as the current chair of ECO, is prioritizing initiatives geared towards digitalization across various sectors, such as standardization and logistics, as part of its aim to unlock the ECO's vast potential through joint ventures and international partnerships.
