Larijani Calls For Facilitating ECO Joint Investment

Tehran, Nov 11, IRNA – Majlis Speaker Ali Larijani said on Saturday that Majlis would help facilitate joint investment in member states of the Economic Cooperation Organization. Larijani told the 17th meeting of the ECO Supreme Audit Institutions (ECOSAI) that Iranian Majlis supports business, joint investment and economic cooperation among the ECO member states and the neighboring countries. He said Iran's strategy has always been based on expansion of friendly cooperation with the neighboring states in different sectors. He noted that under the current political and regional equations, economic cooperation among the regional states, including the ECO states, can be effective to protect the countries' national interests and their all-out progress. Larijani said promotion of fraternal cooperation among Muslims and the neighbors is an important religious obligation. The Iranian top parliamentarian said ratification of common laws to encourage joint investment and facilitate economic and commercial ties by the ECO members are highly important. "Using investment potential of the ECO states would help economic development of the members." Prior to Larijani's speech, head of Iran Auditing Organization Abdolreza Rahmani Fazli presented a repot on the three-day meeting of the ECOSAI. Founded in 1994, the ECOSAI is a regional forum of the Supreme Audit Institutions of the South and Central Asian regions. Iran is hosting the annual governing broad meeting, because its Supreme Audit Court is in charge of ECOSAI’s presidency until 2013. The ECOSAI Governing Board oversees the fulfillment of the Charter of ECOSAI; adopts the draft budget and submits the accounts to the forum for approval; and fulfills any other duties entrusted to it by the forum. The Economic Cooperation Organization groups Republic of Azerbaijan, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Afghanistan, Tajikistan, Turkmenistan, Turkey and Uzbekistan. Founded by Iran, Turkey and Pakistan, the regional group seeks to establish a single market for goods and services, much like the European Union./end