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Turkmenistan seeks to facilitate the financial partnership of ECO member states

Turkmenistan seeks to facilitate the financial partnership of ECO member states

During the fifth online meeting of the heads of financial ministries of the member states of the Economic Cooperation Organization (ECO), Turkmenistan stressed its desire to facilitate financial cooperation between these countries. This will be facilitated by strengthening the regional financial system.

Representatives of Afghanistan, Azerbaijan, Iran, Tajikistan, and Turkey also participated in the meeting, which was held by video link. Delegates from the ECO Trade Development Bank and the Secretariat of the organization also participated in the event. The representatives of the Turkmen side were headed by the Head of the Ministry of Finance Muhammetgeldy Serdarov.

The main objective of the meeting is to consider and agree on ways to facilitate financial cooperation among ECO member states in order to accelerate the post-pandemic recovery of their economies.

Among the key topics of the meeting were the formation of the ECO Clearing Union, as well as the creation of a separate payment system in the region. Representatives of Turkmenistan noted that the emergence of these structures will expand regional cooperation in investment and trade.

Currently, Turkmenistan has taken over the chairmanship of the ECO. The country sees its main task as strengthening investment activity in the member states, increasing the volume of goods turnover and its diversification, stimulating trade and economic relations.

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