ECO’s Economic Potential Needs to be Turned into Tangible Trade and Investment Atif Ikram Sheikh, President FPCCI

Karachi: Mr. Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of
Commerce and Industry (FPCCI) and President of the ECO Chamber of Commerce and
Industry (ECO-CCI), has stressed upon transforming the vast economic potential of the
ECO region into tangible trade, investment and business opportunities through greater
connectivity, trade facilitation and private-sector cooperation.

Addressing a high-profile meeting of the ECO-CCI, attended by representatives of
National Chambers of Commerce and Industry from all ECO member countries, Mr. Atif
Ikram Sheikh emphasized that despite the region’s strategic location, abundant
resources and a market of more than 500 million people, intra-regional trade remains
considerably below its potential. He stressed the need to move from dialogue to
practical action through removal of trade bottlenecks, simplification of customs
procedures, improved business mobility, revival of regional road and rail connectivity –
including ECO Train and stronger B2B engagement. He proposed that ECO-CCI should
develop a practical Action Agenda 2026–27; with specific initiatives and mechanisms for
monitoring progress though assigning initiatives to various chambers.

Mr. Atif Ikram Sheikh emphasized the need to move beyond conventional trade towards
joint production and regional value chains; particularly in agriculture and food
processing, textiles, minerals, energy, engineering, pharmaceuticals and IT. He
proposed greater focus on SMEs, investment facilitation, women entrepreneurship,
tourism and regular ECO trade exhibitions and B2B forums to connect businesses
across the region.

ECO Secretary General, Ambassador Asad Majeed Khan, while addressing the
meeting, highlighted the significant economic potential of the ECO region and noted that
intra-regional trade remains far below its potential due to tariff and non-tariff barriers,
customs and logistical bottlenecks, limited business-to-business interaction and
payment-related constraints. He briefed participants on recent ECO initiatives relating to
trade facilitation, ECOTA, customs cooperation, transportation and business mobility,
and emphasized the critical role of ECO-CCI and National Chambers in creating
business linkages and identifying commercial opportunities. He also encouraged ECO
CCI to consider organizing a major ECO Trade Fair/Expo and strengthening the
institutional capacity of ECO-CCI to facilitate trade information, business matchmaking
and private-sector cooperation.

Representatives of the National Chambers of Afghanistan, Azerbaijan, Iran,
Kazakhstan, Kyrgyz Republic, Pakistan, Tajikistan, Türkiye, Turkmenistan and
Uzbekistan shared their views and recommendations for promoting economic activities
through the ECO platform. They emphasized the need for regular ECO exhibitions,
sector-specific B2B meetings, enhanced trade and investment promotion, improved
transportation and visa facilitation, and stronger interaction among the business
communities of member countries.

Brig Iftikhar Opel, SI (M), Retd.

Secretary General