ISLAMABAD, Feb 12: The first conference of the Parliamentary Assembly of the Economic Cooperation Organisation (PAECO) concluded here on Tuesday with the resolve to play a ‘monitoring role’ in promoting regional trade and investment to ensure sustainable socio-economic development.
The assembly expressed concern over the fact that the crucial ECO Trade Agreement had only been signed by five countries, while the five others were out of its fold.
Even the countries that are signatories to the agreement have not yet endorsed it.
This is also the case with the ECO Trade and Investment Bank which is only participated by four member states.
Speaking at the concluding session, National Assembly Speaker Dr Fehmida Mirza, who is the first president of the parliamentary conference, said the foremost task before PAECO was to “push governments of ECO countries through our legislative and oversight roles to fully activate these forums”.
“Another area of our focus should be facilitating the private sector through supportive legislation and removing numerous barriers in intra-regional trade and investments,” Dr Mirza said.
She said building reliable road and rail links in the region held the key to sustained economic activity. The projects like the north-south and east-west railways and opening of all-weather road systems are essential for the integration of our region.
She said the prime objective of the parliamentary assembly was to further the ideals of economic cooperation. “We must identify and agree on realistic targets, as the convergence of the ECO region is only possible by respecting and recognising the diversity of respective member countries and, therefore, must work in a spirit of mutual respect, trust and confidence,” she said.
The Executive Council of the Parliamentary Assembly of ECO countries, comprising speakers, decided to hold conferences of PAECO on an annual basis. The second conference will be held in Kabul in the spring of next year. The council authorised the PAECO secretary to seek an observer status in the Inter-Parliamentary Union (IPU) of the Islamic countries.
A committee was formed to frame the forum’s rules of business.
Earlier, opening the first conference of the assembly, Dr Mirza said that the establishment of PAECO was the manifestation of the principles of the ‘Izmir Treaty’ which had been guiding ECO countries to seek a peaceful, progressive and enabling environment for sustainable human and economic development in the region.
The ‘PAECO Charter’, which was signed on Monday, envisioned that the parliamentarians of the member countries would jointly promote common values, interests and opportunities.“It desires them to invoke the dictums of ‘parliamentary diplomacy’ in fostering democracy, peace and development in the region,” she said.
Dr Mirza said the indicators of the Millennium Development Goals (MDGs) of the ECO region showed that almost all member countries lagged behind on issues pertaining to women’s empowerment and mothers’ and children’s health.
“The PAECO can make useful headways in this area by strengthening the forum of ECO experts’ group on MDGs through a combined parliamentary initiative,” she said.