ISLAMABAD, Jan 26: The proposed draft agreement on promotion and protection of investment among the ECO-member countries will be discussed in an inter-ministerial meeting to be held with Finance Minister Shaukat Aziz in the chair here on Tuesday.

Senior officials from Economic Affairs Division, Ministry of Commerce, Board of Investment, Foreign Office and Central Board of Revenue will attend the meeting.

Comments, suggestions and proposals would be sought from the relevant ministries during the meeting for inclusion in the proposed draft to be presented at the forthcoming meeting of ECO-Finance Ministers scheduled for January 30 here in Islamabad.

They said that the draft agreement would be discussed at length during the meeting to be attended by ministers of finance and economy of Republic of Kazakhstan, Turkey, Pakistan, Uzbekistan, Turkmenistan, Iran, Kyrgyz Republic, Tajikistan and Afghanistan.

According to the draft agreement, a copy of which was made available to Dawn, the proposed treaty is aimed at enhancing technical and commercial cooperation among the member countries.

The agreement would provide and develop a favourable climate for investments, under which the economic resources of the member states could circulate among them so that optimum utilization could be made of these resources in a way that would serve the development objectives of individual members and raise the standard of living of their people.

The agreement would permit the transfer of capitals among member countries and its utilization in the fields reserved for investment in accordance with their laws.

It further says that the member countries shall endeavour to open up various fields and investment opportunities to the capitals on the widest possible scale, in such a way that might suit their economic conditions and on the basis of achieving mutual benefits for the parties to the investment to foster the social and economic development of the host state in accordance with its development objectives, plans and national priorities, while at the same time, achieving a profitable investment return for the capital.