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Member States of ECO emphasize to enhance parliamentary dialogue under PAECO
June 02, 2021

Member states of Economic Cooperation Organization have emphasized on the need to enhance parliamentary dialogue and interaction under the umbrella of PAECO as an effective tool in fulfilling ECO's socio economic objectives.

This was expressed in Islamabad Declaration at the closing ceremony of 2nd General Conference of Parliamentary Assembly of Economic Cooperation Organization in Islamabad today (Wednesday).

The declaration underlined the significance of PAECO in exploiting the potential of parliamentary diplomacy to bring about regional connectivity and economic integration in the ECO region.

It recognized the grave human rights violations of the oppressed peoples of Palestine and Indian Illegally Occupied Jammu and Kashmir.

It strongly supported to implement mechanisms for ECO Trade Agreement, ECO Trade and Development Bank, ECO Transit Transport Framework Agreement and ECO Reinsurance Company.

It called for early establishment of the general fund for PAECO Secretariat and making it fully functional.   

The declaration further recognized that trade is an engine of economic growth and vital for sustainable socio-economic development as well as to boost regional economic recovery in the aftermath of Covid-19.

It urged Member States to take effective measures for enhancing intra-regional trade through early implementation of ECOTA.

The declaration underscored the importance of transit trade, reducing the cost of doing business, and financial infrastructure in expanding intra-regional trade volumes and emphasized on the need of simplification of visa processes for businessmen and tourists.

It underlined the importance of participation of women in socio-economic development and suggested activities like operation of web-portal for women entrepreneurs, exchange of delegates, holding of exhibitions and organizing training workshops.

It reaffirmed solidarity with the oppressed people of Palestine and Indian Illegally occupied Jammu and Kashmir and condemned gross human rights violations there.

It deplored the unilateral economic sanctions and extra-territorial jurisdiction or political pressures as tools applied in violation of the United Nations Charter and International Law.