The ECO countries have high capacities to boost trade with the launch of the free trade area, Rahim Mombeini emphasized.

Speaking at the 34^th meeting of the Regional Planning Council (RPC) of ECO, held at the secretariat of the organization last week with the participation of the representatives from ECO member states, he said ECO is a promising multilateral combination for economic cooperation in the world.

He said the common culture and values and also the historical relations are the strong foundation of collaboration for the organization to become a successful model of economic cooperation.

Iran has undertaken the presidency of ECO as of January 1, 2024, he said, seizing the opportunity to thank the Republic of Azerbaijan for its relentless efforts and measures taken in 2023, IRNA reported.

He also thanked ECO Secretary General Khusrav Noziri for offering nonstop and unflinching services to the member states.

The deputy chief of the Plan and Budget Organization of Iran expressed hope that negotiations for the launch of an FTA by ECO member states will start soon.

In this meeting, the representatives of the ECO member states presented their suggestions to the ECO organization secretariat regarding the activities and the way of economic cooperation of the ECO countries in the fields of energy, transportation, climate change and environment.