ISLAMABAD: The Economic Cooperation Organisation (ECO) member states could not make substantial progress on ECO Trade Agreement despite a lapse of almost 15 years.
Daily Times learnt that Pakistan has requested Turkey to open ECOTA concession list if it wants to make the agreement operational. Pakistan has already opened its concession list because it thinks the agreement should be implemented.
The ECOTA was signed by five out of 10 ECO member states, including Afghanistan, Iran, Pakistan, Tajikistan and Turkey in the ministerial meeting on commerce/foreign trade.
Documents available with Daily Times stated that the agreement has not been implemented as yet due to differences on interpretation of ECOTA Articles, non-submission of ECOTA tariff concession lists by Iran and Tajikistan and non-ratification of annexes to the agreement by Tajikistan.
Currently, Turk officials are pursuing the member countries to operationalise the agreement because it has completed all the procedural and legal requirements for its implementation, document stated.
“Pakistan is of the view that the implementation of the ECOTA without Iran would not be in the favour of the region. Pakistan Turkey FTA negotiations are in final stages while Afghanistan and Pakistan are the contracting parties to the SAFTA,” document read further.
In the wake of Pakistan’s ongoing bilateral initiatives, implementation of ECOTA among Afghanistan, Pakistan and Turkey may not be helpful in enhancing trade. Besides, Pakistan and Iran have started negotiating in concluding a bilateral FTA. Asad Hayauddin, additional secretary (trade diplomacy), has a narrative that Pakistan and Turkey can lead this process because these are two main countries in this agreement.
Pakistan, designated as the coordinating country of ECOTA, had taken a lead improvising ECOTA concession list to the ECO Secretariat in 2008. Pakistan had also submitted revised updated lists in the 4th ECOTA Cooperation council meeting held in Tehran on April 3, 2013.
Asad said Pakistan has requested the Turkish government to open ECOTA concession list because Pakistan seriously considers the ECOTA Agreement and we have already opened its concession list.
