KARACHI, AUG 18 /DNA/ – Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and President of the ECO Chamber of Commerce and Industry (ECO-CCI), has stressed upon transforming the vast economic potential of the ECO region into tangible trade, investment and business opportunities through greater connectivity, trade facilitation and private-sector cooperation.
Addressing a high-profile meeting of the ECO-CCI, attended by representatives of National Chambers of Commerce and Industry from all ECO member countries, Mr. Atif Ikram Sheikh emphasized that despite the region’s strategic location, abundant resources and a market of more than 500 million people, intra-regional trade remains considerably below its potential. He stressed the need to move from dialogue to practical action through removal of trade bottlenecks, simplification of customs procedures, improved business mobility, revival of regional road and rail connectivity – including ECO Train and stronger B2B engagement. He proposed that ECO-CCI should develop a practical Action Agenda 2026–27; with specific initiatives and mechanisms for monitoring progress though assigning initiatives to various chambers.
Mr. Atif Ikram Sheikh emphasized the need to move beyond conventional trade towards joint production and regional value chains; particularly in agriculture and food processing, textiles, minerals, energy, engineering, pharmaceuticals and IT. He proposed greater focus on SMEs, investment facilitation, women entrepreneurship, tourism and regular ECO trade exhibitions and B2B forums to connect businesses across the region.
ECO Secretary General, Ambassador Asad Majeed Khan, while addressing the meeting, highlighted the significant economic potential of the ECO region and noted that intra-regional trade remains far below its potential due to tariff and non-tariff barriers, customs and logistical bottlenecks, limited business-to-business interaction and payment-related constraints. He briefed participants on recent ECO initiatives relating to trade facilitation, ECOTA, customs cooperation, transportation and business mobility, and emphasized the critical role of ECO-CCI and National Chambers in creating business linkages and identifying commercial opportunities. He also encouraged ECO CCI to consider organizing a major ECO Trade Fair/Expo and strengthening the institutional capacity of ECO-CCI to facilitate trade information, business matchmaking and private-sector cooperation.
Representatives of the National Chambers of Afghanistan, Azerbaijan, Iran, Kazakhstan, Kyrgyz Republic, Pakistan, Tajikistan, Türkiye, Turkmenistan and Uzbekistan shared their views and recommendations for promoting economic activities through the ECO platform. They emphasized the need for regular ECO exhibitions, sector-specific B2B meetings, enhanced trade and investment promotion, improved transportation and visa facilitation, and stronger interaction among the business communities of member countries.
