The Association of Southeast Asian Nations (ASEAN) and the Economic Cooperation Organization (ECO) have agreed to boost their cooperation in the areas of trade, investment, and tourism.

Photo: emb.gov.ph

The agreement was reached after the ASEAN Ministerial Meeting co-hosted by the two sides in New York, on the sidelines of the 68th Session of the United Nations General Assembly. The two organizations updated each other on recent developments in their regions, reviewed the status of their bilateral cooperation, and exchanged views on the future direction of ASEAN-ECO relations. They also reviewed the Work Programme to implement the Memorandum of Understanding (MoU) between the Secretariats of ASEAN and ECO, which was signed in 2006. Recognizing the key role of the private sector in promoting inter-regional trade and investment, the meeting emphasised the need to better facilitate interactions among private sectors and businesses in the two regions.