Why It Matters:
The meeting is considered an important opportunity to strengthen economic and trade cooperation between ECO members. The results of these negotiations have significant impacts on regional economic relations.
The Big Picture:
The meeting of ECO Deputy Foreign Ministers in Tehran, attended by representatives of 7 out of 10 member countries of the organization, will review previous agreements and strategies to increase trade volume between member countries.
Key Points:
- Trade volume among ECO countries accounts for approximately 7 percent of global trade.
- The total trade of ECO member countries is around one trillion dollars.
Go Deeper:
In light of the global economic challenges and the necessity for regional cooperation, this meeting has the potential to strengthen the positions of member countries in international markets and facilitate the establishment of a sustainable and effective trade network. Esmaeil Baghaei, spokesperson for the Ministry of Foreign Affairs, stated today that the meeting in Tehran was a continuation of the ministerial meeting held in Mashhad. It serves as a follow-up to previous discussions and focuses on the plans of the member countries.
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