Report on the:
1st Meeting of the ECO Public and Private Sector Energy/Petroleum Consortiums/Companies
The 1st Meeting of the ECO Public and Private Sector Energy/Petroleum onsortiums/Companies was held on 16-17 August 2016 in Tehran, Islamic Republic of Iran. It was attended by the delegates from public and private sectors from the Islamic Republic of Afghanistan, Republic of Azerbaijan, the Islamic Republic of Iran, Republic of Kazakhstan, the Islamic Republic of Pakistan, Republic of Tajikistan and Republic of Turkey, as well as delegations from the ECO-CCI, ECO-TD, IDB and ECO Secretariat.
The Meeting was opened in an inauguration ceremony jointly held with the 21st Executive Committee Meeting of the ECO Chamber of Commerce and Industries (ECO-CCI). Dr. Mohammad Nahavandian, Chief Executive of the Office of the President of the Islamic Republic of Iran, Mr. Abdul Rauf Alam, President of ECO–CCI and Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Mr. M. Rifat Hisarciklioglu, President of the Unions of the Chambers and Commodity Exchanges of Turkey (TOBB), Mr. Gholamhosein Shafeiee, Vice President of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), Mr. Azarakhsh Hafizi, Vice President of ECO-CCI from Afghanistan, and ECO Secretary General, Ambassador Halil Ibrahim Akca made their statements in the inaugural ceremony.
Dr. Mohammad Nahavandian, while welcoming all delegations to these important ECO Meetings, highlighted tremendous potentialities that ECO countries possess in human and natural resources and urged the need for enhanced economic cooperation among Member States and their respective Chambers of Commerce through establishing active private sector networks. Moreover, he acknowledged the timely convening of 1st Meeting of the ECO Public and Private Sector Energy/Petroleum Consortiums/Companies for enhancing energy cooperation. He further called for increased trade among Member States through expanding activities of ECO banks for commercial and investment purposes; boosting financial insurance for projects; preferential joint venture projects; vigorous follow up for active implementation of ECOTA; normalization of visa regimes for businessmen and truck drivers; issuance of ECO sticker visa, more customs facilities; establishment of arbitration center, and speeding up work on ECO corridors and regional connectivity.
In his statement, Ambassador Halil Ibrahim Akca, ECO Secretary General deeply appreciated the Government of the Islamic Republic of Iran, particularly Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) and ECO-CCI for holding the ECO-CCI Meetings as well as the 1st Meeting of the ECO Public and Private Sector Energy/Petroleum Consortiums/Companies and for their sincere efforts for enhancing private sector cooperation among ECO Member States and their commitment for more integration in the ECO Region. The ECO Secretary General also briefed the Meeting about the ECO’s overall policies in different areas of cooperation and future plans, including ECO Vision-2025, recent progress made in advancing regional economic development agenda, as well as implementation of ECOTA.
The 1st Meeting of the ECO Public and Private Sector Energy/Petroleum Consortiums/Companies was structured in 5 panel discussions involving representatives of the public/private energy entities of the participating countries who made extensive discussions on various features of cooperation in energy sector. During the 2-day active programme, the Meeting agreed on establishment of ECO Energy Consortium(s), covering cooperation and projects on oil and gas, electricity, petrochemical and renewable energy sectors. A roadmap for the establishment of the ECO Energy Consortium will be prepared and circulated among the Member States shortly.
During the Meeting, the delegates from financial institutions, namely, ECO Trade and Development Bank and the Islamic Development Bank also briefed the Meeting about their activities on completed, ongoing and future projects in the ECO Member States. ECO-TDB expressed its readiness to finance ECO energy projects with special focus on clean energy projects, including, hydro, solar, wind and other renewable sources of energy.