Azerbaijan, Baku, Nov. 7 /Trend A.Akhundov/
Azerbaijan is confident in further growth of trade with the member countries of the Economic Cooperation Organization (ECO), Deputy Minister of Economic Development Niyazi Safarov said at second meeting of the standing working group on economic studies of ECO in Baku.
He noted that the trade turnover between Azerbaijan and ECO countries increased by 37.79 per cent in 2011.
"The organization plays an important role in the development of trade and investment environment, the expansion of ties between entrepreneurs and conducting socio-economic research in the participating countries," Safarov said.
The meeting was attended by representatives of the member states, a number of government agencies, universities, and international organizations.
The Economic Cooperation Organization was established by Iran, Pakistan and Turkey in 1985. In 1993, the organization was granted observer status at the UN, and a year later - in the Organization of the Islamic Conference (now - Organization of Islamic Cooperation).