ISLAMABAD, Jan 17: The finance ministers of the Economic Cooperation Organization (ECO) are meeting here on Jan 29, to discuss increased cooperation in the region and also to adopt a common policy towards multilateral agencies.

"They (finance ministers) are gathering here on our initiative, and I hope that the ECO countries would harness joint efforts for promoting trade and economic cooperation among the member states," said Finance Minister Shaukat Aziz.

Speaking to Dawn, he said the conference would discuss the fiscal and monetary policy, global capital market, dealing with multilateral agencies, fund raising, besides considering steps for strengthening coordination among the member states.

He said Pakistan, Iran, Turkey, Afghanistan and the Central Asian countries had confirmed their participation in the Islamabad conference.

In reply to a question, he said the finance ministers would also look into the possibilities of forging cooperation with the Saarc states. "Both these regional forums need to expand their cooperation," he said, adding that the ECO conference would initially deliberate on improving its cooperation within the forum.

The purpose of the conference, he said, was to make the ECO a vibrant forum by holding its regular meetings.