BAKU, Azerbaijan, March 7. The Economic Cooperation Organization (ECO) seeks greater and deeper engagement with Turkmenistan in implementation of the ECO Transit Transport Framework Agreement (TTFA), Secretary General of ECO, Asad Majeed Khan, said in an interview with Trend.
“Given its strategic geography, Turkmenistan is in a special place to advance the development of trade, as well as connectivity, trade, and energy cooperation within ECO. Turkmenistan has a strong trade profile within the organization while its economy, as well as its trade with the ECO region, is growing steadily. In this regard, ECO seeks greater and deeper engagement with Turkmenistan in the implementation of the ECO Trade Agreement and the ECO Transit Transport Framework Agreement,” he said.
According to him, as an active member of the organization, Turkmenistan is also a proponent of developing border trade zones within the region.
“Turkmenistan proposed to conduct a feasibility study on a shared border zone between Turkmenistan and Iran on the lines of the successful Turkmenistan-Uzbekistan border zones to enhance regional trade. We are now closely working with Turkmenistan and actively pursuing this model through the feasibility study to see how it can be replicated in the region,” he said.
The secretary-general emphasized that the updated infrastructure with these projects will help attract investment to Turkmenistan and diversify its economy’s reliance on the energy sector for growth.
He noted that the TTFA, operational since 2006, is the cornerstone of ECO's legal framework for transport and transit cooperation. Its objectives include streamlining administrative procedures by simplifying customs and border-crossing processes to reduce delays and costs, promoting visa facilitation for drivers and transport personnel, and harmonizing regulations with international standards such as the TIR and e-TIR systems.
The TTFA also enhances regional connectivity by operationalizing major corridors and eliminating non-physical barriers, while encouraging member states to adopt modern practices and technologies in transit transport.
Majeed Khan further highlighted that the ECO Trade Agreement, in turn, is poised to play a significant role in future developments within the region, particularly in fostering economic integration, boosting bilateral trade, and enhancing transportation networks.
"By reducing tariffs and trade barriers, these two agreements could lead to increased trade flows between countries and are expected to create a more integrated regional economy, where countries can more easily access each other’s markets and diversify their export portfolios. The agreements will stimulate bilateral trade by making it more cost-effective for member states to exchange goods and services. Lower tariffs, streamlined customs procedures, and harmonized regulations will create an environment where trade can expand without being hindered by bureaucratic inefficiencies," he said
The official emphasized that in enhancing connectivity, the agreements can promote multimodal transport solutions (combining road, rail, and sea transport) for more efficient trade routes in the region.
"Jointly, the ECO TTFA and Trade Agreement hold great promise for enhancing bilateral trade, improving transportation networks, and fostering deeper regional integration. Over time, this could lead to a more interconnected and prosperous region, though success will depend on addressing logistical challenges that may arise," he stressed.
