ASEAN and ECO Secretariats sign MoU to boost cooperation, 18 Jan 2006

The Memorandum of Understanding (MoU) between the Secretariat of ASEAN and the Secretariat of Economic Cooperation Organization (ECO) was signed on 18 January 2006 by the Secretary-General of ASEAN Ong Keng Yong in Jakarta and by the Secretary-General of ECO Askhat Orazbay in Tehran.

The MoU will serve as a platform to build a closer relationship between the two regions through the sharing of information, practices and experiences in the areas of Trade & Investment, Narcotics Control, Development of Small and Medium Enterprises (SMEs) and Tourism.

In the area of Trade and Investment, the two Parties agreed to exchange information on the implementation of the ASEAN Free Trade Area (AFTA) and Economic Cooperation Organization Trade Agreement (ECOTA), as well as on related policies in trade, investment and customs reforms.

The two regions also agreed to share information on national laws and practices to suppress illicit drugs trafficking. Meanwhile, regional strategies will be developed to boost competitiveness and capacity in SME businesses especially in the critical areas of production and management.

ASEAN and ECO will also work together to develop the tourism infrastructure and facilities of the two regions as well as encourage the involvement of the private sector to boost growth and investment in the tourism sector.

The ECO consists of the Islamic State of Afghanistan, Azerbaijan Republic, Islamic Republic of Iran, Republic of Kazakhstan, Kyrgyz Republic, Islamic Republic of Pakistan, Republic of Tajikistan, Republic of Turkey, Turkmenistan and Republic of Uzbekistan.

• Click here for the Memorandum of Understanding between the ASEAN Secretariat and the ECO Secretariat.
  

(source:http://www.aseansec.org/18206.htm#Article-2)