BAKU, Azerbaijan, March 11. The Economic
Cooperation Organization (ECO) seeks greater and deeper engagement
with Turkmenistan in implementation of the ECO Transit Transport
Framework Agreement (TTFA), Secretary General of ECO, Asad Majeed
Khan, said in an interview with Trend.
“Given its strategic geography, Turkmenistan is in a special
place to advance the development of trade, as well as connectivity,
trade, and energy cooperation within ECO. Turkmenistan has a strong
trade profile within the organization while its economy, as well as
its trade with the ECO region, is growing steadily. In this regard,
ECO seeks greater and deeper engagement with Turkmenistan in the
implementation of the ECO Trade Agreement and the ECO Transit
Transport Framework Agreement,” he said.
According to him, as an active member of the organization,
Turkmenistan is also a proponent of developing border trade zones
within the region.
“Turkmenistan proposed to conduct a feasibility study on a
shared border zone between Turkmenistan and Iran on the lines of
the successful Turkmenistan-Uzbekistan border zones to enhance
regional trade. We are now closely working with Turkmenistan and
actively pursuing this model through the feasibility study to see
how it can be replicated in the region,” he said.
The secretary-general emphasized that the updated infrastructure
with these projects will help attract investment to Turkmenistan
and diversify its economy’s reliance on the energy sector for
growth.
He noted that the TTFA, operational since 2006, is the
cornerstone of ECO’s legal framework for transport and transit
cooperation. Its objectives include streamlining administrative
procedures by simplifying customs and border-crossing processes to
reduce delays and costs, promoting visa facilitation for drivers
and transport personnel, and harmonizing regulations with
international standards such as the TIR and e-TIR systems.
The TTFA also enhances regional connectivity by operationalizing
major corridors and eliminating non-physical barriers, while
encouraging member states to adopt modern practices and
technologies in transit transport.
Majeed Khan further highlighted that the ECO Trade Agreement, in
turn, is poised to play a significant role in future developments
within the region, particularly in fostering economic integration,
boosting bilateral trade, and enhancing transportation
networks.
“By reducing tariffs and trade barriers, these two agreements
could lead to increased trade flows between countries and are
expected to create a more integrated regional economy, where
countries can more easily access each other’s markets and diversify
their export portfolios. The agreements will stimulate bilateral
trade by making it more cost-effective for member states to
exchange goods and services. Lower tariffs, streamlined customs
procedures, and harmonized regulations will create an environment
where trade can expand without being hindered by bureaucratic
inefficiencies,” he said
The official emphasized that in enhancing connectivity, the
agreements can promote multimodal transport solutions (combining
road, rail, and sea transport) for more efficient trade routes in
the region.
“Jointly, the ECO TTFA and Trade Agreement hold great promise
for enhancing bilateral trade, improving transportation networks,
and fostering deeper regional integration. Over time, this could
lead to a more interconnected and prosperous region, though success
will depend on addressing logistical challenges that may arise,” he
stressed.
