ISLAMABAD: For the primary time in historical past, Tashkent, the capital of Uzbekistan, will host the Summit of the Financial Cooperation Group. It is going to be held on 8-9 November, 2023.

Our nation has been a member of the group since November 1992, however that is the primary time within the historical past of unbiased Uzbekistan and this affiliation {that a} multilateral summit throughout the framework of the ECO is being held on Uzbek soil.

The Financial Cooperation Group is a regional interstate group based in 1985 in Tehran (Iran). The objectives and goals of ECO – improvement of mutually useful commerce and financial cooperation and regional interplay in transport and communication sphere absolutely meet the pursuits of our republic.

At current, the ECO members are Afghanistan, Azerbaijan, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Turkmenistan, Turkey and Uzbekistan.

Since 1995, the ECO has had observer standing within the UN and the Group of Islamic Cooperation (OIC). The ECO actions are coordinated and monitored by the group’s Secretary Basic, who’s elected and appointed by the Council of Overseas Ministers of the ECO member nations for a interval of three years.

In 2022, Uzbekistan chaired the ECO for the primary time. Talking on the fifteenth ECO Summit in Ashgabat on 28 November 2021, President Shavkat Mirziyoyev put ahead proposals for cooperation in commerce, funding, transport and “inexperienced” financial system. “We have to extra absolutely make the most of the numerous potential of our nations, which have an enormous market with a inhabitants of over 500 million folks, within the spheres of commerce and funding,” the pinnacle of our state careworn on the summit. Accepting the chairmanship, the President mentioned Uzbekistan favors the event of complete relations throughout the ECO framework.

Our nation considers ECO as a platform for discussing methods to enhance improvement and promote commerce and funding alternatives in South Asia, Central Asia and the Center East.

Inside the framework of ECO, Uzbekistan advocates the creation of interregional transit hubs, the event of recent transport and highway infrastructure, the optimisation of transport and transit tariffs, the simplification of situations for worldwide freight and passenger site visitors and the introduction of digitalisation within the transport business.

As well as, on the summit in Ashgabat, President Shavkat Mirziyoyev put ahead an initiative on lively joint improvement of “inexperienced” financial system, large introduction of resource-saving applied sciences in industrial sectors, and achievement of carbon neutrality.

Uzbekistan can also be in favor of becoming a member of efforts to develop widespread approaches and supply needed help to Afghanistan. On this regard, the pinnacle of our state has put ahead an initiative to persistently proceed the implementation of main commerce, transport and vitality tasks of regional significance collectively with Afghanistan as a way to promote the financial system of this nation and help its folks.

As we speak, the ECO nations are the biggest commerce companions of Uzbekistan. Based on the outcomes of 2022, commerce turnover between Uzbekistan and ECO nations totalled $12.3 billion, and in January-July 2023 – $5.8 billion.

Since Might 2018, there was an intensification of Uzbekistan’s cooperation with ECO. Particularly, since 2018, ECO Secretaries Basic Khalil Akca, Hadi Soleimanpour, Khusrav Noziri, in addition to Deputy Secretary Basic Hussein Burchakli have visited Uzbekistan. On the similar time, the participation of the Uzbek aspect in worldwide occasions held below the auspices of ECO has been significantly intensified.

Official delegations of Uzbekistan participate within the conferences of Prosecutors Basic, Heads of Maritime Group s, Ministers of Transport, Tourism and Agriculture, in addition to conferences of the ECO Professional Group on Mineral Sources and Heads of Veterinary Group s of the ECO Member States.

In view of the coronavirus pandemic in 2020, many occasions had been held on-line, together with a digital assembly of the ECO Member States, the United Nations Industrial Improvement Group (UNIDO) and ECOLONER, a global vitality consultancy, to debate the ECO Clear Vitality Centre undertaking, the ECO Digital Convention on “Prospects and Challenges of Regional Electrical energy Markets: Exploiting Commerce and Funding Alternatives”, the primary digital assembly of the Working Group on Civil Aviation (November), the primary digital assembly of the ECO Working Group on Civil Aviation (November), and the primary digital assembly of the ECO Working Group on Commerce and Funding (November).

On account of the digital assembly of the Ministers of Transport of the ECO Member States in December 2020, Uzbekistan’s initiative to incorporate highway and rail transport corridors “Central Asia – Afghanistan – Pakistan”, “Central Asia – Afghanistan – Iran”, “Uzbekistan – Turkmenistan – Iran” into the transport arteries of the ECO area was supported by all member nations of the group and included within the last Declaration.

In January 2021, the primary assembly of the Heads of Particular Financial Zones of the ECO Member States and the thirty first assembly of the Regional Planning Council had been held.

On the common assembly of the ECO Regional Planning Council chaired by Uzbekistan on 17-26 January 2022, on the initiative of our nation, 2022 was declared the “12 months of Strengthening Connectivity”.

It must be famous that greater than 25 occasions had been held throughout Uzbekistan’s chairmanship in ECO. Thus, on 5-6 July 2022, the seventh assembly of the ministers of agriculture of the ECO nations was held in Tashkent. The occasion was additionally attended by the group’s Secretary Basic Khusrav Noziri.

On 13 December 2022, the fourth assembly of the ECO Tourism Ministers was held on-line, throughout which Shakhrisabz was chosen because the ECO Tourism Capital in 2024.

On 5 December 2022, the President of Uzbekistan signed the regulation “On Ratification of the Treaty of Izmir”, strengthening the authorized foundation for full membership within the Financial Cooperation Group , in addition to increasing alternatives for complete cooperation with the Group ‘s Member States.

On 24 January 2023, the twenty sixth assembly of the ECO Council of Ministers of Overseas Affairs (CMFA) was held in Tashkent, which was attended for the primary time by the international ministers of all member states of the group. In consequence, the Tashkent Communiqué was adopted. On the identical day, the President of Uzbekistan acquired the ECO Secretary Basic.

Additionally it is value noting that ECO Secretary Basic Khusrav Noziri participated as a global observer on the presidential elections in October 2021, in addition to on the Constitutional Referendum held in Uzbekistan on 30 April this yr.

There is no such thing as a doubt that holding the following summit of the group in Tashkent will give a brand new impetus to Uzbekistan’s interplay with the ECO member states, create a brand new foundation for the event of widespread approaches to addressing points related to the affiliation and decide additional key priorities of the group on growing and strengthening regional financial cooperation for the good thing about all peoples inhabiting the huge ECO house.