Annual volume of trade among ECO states only $60 billion

Tehran, Dec 17, IRNA - Economic Cooperation Organization (ECO) Secretary General announced the current volume of trade between members of the organization is about $60 billion per year, saying that it is expected that this amount will reach more than $120 billion a year by 2025.

Hadi Suleymanupour said on Monday that the current level of trade between members of the ECO is 7.7 percent of the total trade volume with other countries in the world.

He continued, “The meeting of the Regional Planning Council, which started today in Tehran, has the task of examining ways to reach this volume of trade and declare it to the countries.'

Suleymanupour noted that member-states are expected to increase their business by $10 billion annually to reach $120 billion by 2025.

According to the Secretary-General of the ECO, appropriate mechanisms should be developed, such as tariff cuts, increased mutual investment, and the creation of facilities for cooperation between private sectors of countries and market connectivity.

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