4th ECO Ministerial Meeting on Finance and Economy

The 4th ECO Ministerial Meeting on Finance and Economy was held on 22-23 May 2014 in Astana, Republic of Kazakhstan. It was attended by Ministers and high level Representatives of Republic of Azerbaijan, the Islamic Republic of Iran, Republic of Kazakhstan (the host country), the Islamic Republic of Pakistan, Republic of Tajikistan, Republic of Turkey and Republic of Uzbekistan. The ECO Secretary General and the Presidents of the Islamic Development Bank and the ECO Trade and Development Bank also attended the Meeting. The Meeting was chaired by H.E.  Bakhyt Sultanov, Deputy Prime Minister and Minister of Finance of Republic of Kazakhstan.

In his address, H.E. Ambassador Shamil Aleskerov, the ECO Secretary General, presented an overview of the ECO cooperation in Finance and Economy. He said that the two decades of economic cooperation  of the Member States have laid strong foundations for the realization of goals and objectives of  the ECO, as envisaged in the Treaty of Izmir. He underlined the need for building on those foundations by putting into effect the agreed legal instruments, increasing the effectiveness of the institutional mechanism and undertaking joint projects.

The Ministerial Meeting provided strategic guidelines and took important decisions for strengthening cooperation among ECO Member States in various areas pertaining to Finance and Economy, including Trade, Investment, Banking, Customs, Taxation and Re-insurance. The Meeting also adopted the "Astana Declaration" embodying the Member States' commitment to jointly respond to regional and global economic challenges.

The Ministerial Meeting was preceded by the Senior Officials Meeting, chaired by H.E. Nataliya Korzhova, Executive Secretary of Ministry of Finance of the Republic of Kazakhstan.