13th Economic Cooperation Organization (ECO) Summit Held in Pakistan

13th Economic Cooperation Organization (ECO) Summit Held in Pakistan

The 13th Economic Cooperation Organization (ECO) Summit, an inter-governmental regional group of 10 countries was held in Islamabad, Pakistan on March 1, 2017 under the chairmanship of Prime

Minister of Pakistan Muhammad Nawaz Sharif. The theme of the summit was “Connectivity (संयोजकता) for Regional Prosperity(समृद्धि)”. The summit aimed at increasing cooperation in areas such as trade, energy, tourism and economic growth. The ECO was formed in 1985 by Pakistan, Iran and Turkey. It now also includes Kazakhstan, Kyrgyzstan, Azerbaijan, Tajikistan, Afghanistan, Uzbekistan and Turkmenistan.

Highlights of the Summit

During the summit, the countries discussed steps to be taken to augment cooperation in the areas of connectivity, trade, energy, tourism, investment, industry, economic growth, productivity, social welfare and environment. 

The Summit unanimously adopted the Islamabad Declaration 2017 that represents the collective political will of Member States to focus on connectivity of energy, infrastructure(आधारिक संरचना), transport, and trade for regional prosperity.Besides(के अतिरिक्त), the Summit also adopted the ECO Vision 2025 which provides guidelines to the Organization in all spheres of ECO activity.China was the special guest to address the summit. The event highlighted the regional connectivity between Pakistan and China based on the China-Pakistan Economic Corridor (CPEC) being implemented to link up the two nations through a network of infrastructure projects.

The CPEC is part of the Chinese Belt and Road (B&R) project through which China aims to link up the world for greater connectivity to facilitate (की सुविधा) trade and commercial activities.

Prosperity

समृद्धि

Definitions of prosperity noun the state of being prosperous. a long period of prosperity synonyms: success, profitability, affluence, wealth, opulence, luxury, the good life, milk and honey, (good) fortune, ease, plenty, comfort, security, well-being