THE REPUBLIC OF KAZAKHSTAN AND THE ECONOMIC COOPERATION ORGANIZATION: PRESENT STATE AND FUTURE COOPERATION

Marat NARIBAEV


Marat Naribaev, Ph.D. (Econ.), head of the Economic Research Department at the Kazakhstan Institute of Strategic Studies under the President of the Republic of Kazakhstan (Almaty, Kazakhstan)


The ECO: Present State, Achievements, and Problems

The Economic Cooperation Organization (ECO) was established in 1985 by Iran, Turkey, and Pakistan for the purpose of promoting multi-dimensional regional cooperation and creating conditions for sustainable socioeconomic growth in its Member States. In 1992, Azerbaijan, Afghanistan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan became members of ECO, thus turning it into a major regional structure with immense economic potential. With a total territory of almost 7 million sq. km, a population of more than 350 million, vast supplies of raw minerals and various other natural resources, and a high transport-transit potential, this Organization has the necessary prerequisites for dynamic economic interaction among its Member States.

The ECOs main tasks include creating conditions for promoting advanced socioeconomic development in its Member States, enhancing the consistent and gradual integration of their economies into the global economic system, and encouraging active regional cooperation and mutual assistance in technical, scientific, and other spheres. In order to carry out these tasks, ECO formed the following multi-dimensional organizational structure of regional cooperation coordination and management. Its specialized agencies and regional institutions are the ECO Cultural Institute, ECO Educational Institute, ECO Science Foundation; ECO Shipping Company, ECO Air, ECO Chamber of Commerce and Industry, ECO Reinsurance Company, ECO Trade & Development Bank, and ECO Consultancy & Engineering Company. This structure defines the main vectors of


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