Economic Cooperation Organization | Big Potential, Small Integration | Pakistan Promoting Regionalism for a Resilient ECO
by Tazeen Akhtar
Economic Cooperation Organization ECO that emerged from Regional Cooperation for Development RCD after the fall of USSR and independence of Central Asian States is the 3rd largest bloc in the world by population, after China-India led blocs. ECO has everything – 580 million people, $3 trillion economy, $9.8 trillion PPP, oil, gas, minerals, agriculture, young labour, and a land bridge from China to Europe.But it trades more with outsiders than with itself. Only 1 dollar out of every 10 earned in trade stays inside ECO.
If Pakistan’s chairmanship can turn ECOTA from paper to practice, and connect Central Asia to Gwadar / Karachi through real corridors, ECO can become what it was meant to be in 1964 – not just a talking club, but a real economic bloc.
RCD was formed by Pakistan, Iran, Türkiye in 1964 while Azerbaijan,Kazakhstan,Tajikistan, Kyrgyzstan,Turkmenistan. Uzbekistan were included and the the organization was reshaped as ECO in 1985 with Afghanistan also as member and it was further expanded in 1992 after CARs became independent states.
The 30th Meeting of the ECO Council of Ministers
It will be held in Islamabad on 15-16 November 2026. The Meeting will be chaired by the Deputy Prime Minister and Foreign Minister, Senator Mohammad Ishaq Dar, and will be attended by Foreign Ministers and Heads of Delegations of ECO Member States, along with representatives of the ECO Secretariat and its subsidiary bodies.
The Ministerial Meeting will be preceded by the Meeting of Senior Officials (SOM) of ECO Member States, which will review the activities and programmes of the Organization, assess the work of its subsidiary bodies, and finalize the agenda and draft outcome documents for consideration by the Ministers during COM.
Pakistan As Chair of the ECO for 2026-2027
Pakistan will seek to advance the Organization’s objectives under the theme “Reviving Regionalism for a Resilient ECO”. Pakistan’s Chairmanship will focus on strengthening regional connectivity and deepening regional integration to strengthen regional partnerships, and promote collective efforts towards greater prosperity, sustainable development, and a more integrated and resilient ECO region.
This would also provide an opportunity to reinvigorate the ECO’s role as an effective platform for regional cooperation, dialogue, and economic collaboration. Pakistan’s Chairmanship of the ECO offers an opportunity to position Pakistan as a regional connectivity hub, facilitator of logistic supply chains and an agenda setter for regional trade.
These efforts will contribute towards unlocking the region’s considerable economic potential and ensuring that the benefits of regional cooperation are translated into tangible improvements in the lives of the people of ECO Member States.
Total GDP of ECO
ECO is the 8th largest bloc by nominal GDP, 4th largest by PPP GDP. TotalGDP Nominal~ $3.0 – $3.16 Trillion, GDP PPP~ $9.84 Trillion (2026 estimate)GDP Per Capita Nominal~ $5,440 – $5,536, GDP Per Capita PPP~ $16,947
Breakdown – Nominal GDP 2025-26 Approx:
Türkiye$1,602,860 Million, Pakistan$407,307 Million, Iran$371,123 Million, Kazakhstan$306,239 Million, Uzbekistan$110,000 – $120,000 Million, Azerbaijan$75,938 Million, Turkmenistan$70,000 – $80,000 Million, Tajikistan$14,000 – $15,000 Million, Kyrgyzstan$22,625 Million, Afghanistan$17,817 Million = TOTAL~ $3.05 Trillion
Türkiye alone is more than 52% of ECO’s nominal GDP. Kazakhstan is 2nd in per capita – $15,191, followed by Türkiye $18,676.
Volume of Trade Between Members – The Weak Point
This is ECO’s biggest failure – and biggest opportunity. ECO’s Total Foreign Trade with the World:~ $1.016 Trillion (2023-24)~ 4-5% of world trade
Intra-ECO Trade – Trade Between Members Themselves: 2024: $94 – $95 Billion – Uzbek President Mirziyoyev at 17th ECO Summit, Khankendi, July 20252023-24 – other estimate: $110 Billion
Share: Only 8% to 10% of ECO’s total foreign trade, ECO share in global trade: Only ∼2% – 4%
Comparison:EU intra-trade: 60-70% – ASEAN intra-trade: ∼25% – ECO intra-trade: 8-10%
Pakistan’s trade with ECO: Only 3% of Pakistan’s external trade is with ECO countries – despite Pakistan being a founding member.
Why so low? High tariffs and non-tariff barriers, ECOTA not fully ratified / implemented, Sanctions on Iran, Security situation in Afghanistan, Weak transport, banking, payment systems, Limited product diversification – all sell similar oil, gas, cotton, agriculture
Target: ECO Vision 2025 had set a target to double intra-regional trade. It was not achieved. Now Vision 2035 and Pakistan’s Chairmanship 2026-27 aim to revive it through: Implementing ECOTA, Islamabad-Tehran-Istanbul (ITI) Corridor, Istanbul-Tehran-Islamabad freight train, ECO Trade and Development Bank, Green corridors, e-commerce, digital trade.
ECO Vision ; According to the Treaty of Izmir and ECO Vision 2025 / Vision 2035:Main purpose: Create conditions for sustainable economic development and joint welfare of member states.
Specific objectives:
1. Remove trade barriers within the ECO region and develop intra-regional trade – 2. Promote ECO region’s integration with global markets – 3. Develop transport and connectivity – road, rail, sea, air, energy corridors linking Central Asia to the Arabian Sea and Europe – 4. Develop energy cooperation – oil, gas, electricity, renewables, TAPI, CASA-1000, ITI Corridor – 5. Strengthen cultural and historical ties among member states – 6. Promote agriculture, industry, tourism, science, environment and human development
In simple words: Trade more with each other, connect with each other, and grow together – instead of depending only on outside powers.Its flagship agreement is ECOTA – ECO Trade Agreement, signed 2003, in force April 2008, to create an ECO Free Trade Area. It is still not fully implemented – a major reason intra-ECO trade remains low.
ECO is one of the oldest regional organizations in Asia. It connects Asia to Europe, Eurasia to the Arab World, and Central Asia to the Arabian Sea. ECO is an intergovernmental regional organization for economic, technical and cultural cooperation among 10 countries in South Asia, Central Asia, the Caucasus and the Middle East.
Read in Urdu: ای سی او کی بڑی معاشی طاقت، مگر علاقائی تجارت بدستور کمزور
