Turkey ready to be energy hub of ECO region

Turkey can transfer energy resources of Economic Cooperation Organization states to foreign markets, says foreign minister

Turkey ready to be energy hub of ECO region

World Bulletin / News Desk

The member countries of the Economic Cooperation Organization (ECO) are rich in energy resources and Turkey is ready to transfer them to international markets, the country’s foreign minister said on Tuesday.

Speaking at an ECO foreign ministers’ meeting in Islamabad, Pakistan, Mevlut Cavusoglu said energy was a key field upon which the organization must focus.

"Our region is rich in energy resources. Turkey is ready to transfer them to international markets," he added.

Cavusoglu said the 13th ECO Summit was being held at a crucial time. "Current political and economic challenges force us to reconsider the role of the ECO," he said. 

According to the Turkish foreign minister, the organization has huge potential to become an important regional player.

However, he said member countries needed to redouble their efforts to exploit this potential.

"First of all, we need to put into force our trade agreement, ECOTA, to enhance intra-regional trade. With this understanding, I call upon all the member states to complete the necessary requirements for joining ECOTA," the minister said.

Commenting on the organization's ‘Ecobank’ -- a body to finance trade through projects -- Cavusoglu said: "We need to enhance the institutional and financing capacity of Ecobank to meet the growing needs of the region.”

The integration of regional transport systems and the effective use of transit corridors were also important, the minister said:

"Effective implementation of the Transit Transport Framework Agreement (TTFA) and completion of the outstanding projects, such as the Islamabad-Tehran-Istanbul Road Corridor, should be the organization’s priorities.”

 

Güncelleme Tarihi: 28 Şubat 2017, 11:03
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