Iran proposes energy charter for ECO member states

Iran Materials 30 May 2012 12:25 (UTC +04:00)

Azerbaijan, Baku, May 30/ Trend F.Milad/

Iranian Oil Minister Rostam Qasemi has proposed that the Economic Cooperation Organisation (ECO) prepares a draft of an energy charter for its member states.

In a meeting with ECO secretary general Mohammad Yahya Maroofi in Tehran on Tuesday, Qasemi also suggested that those ECO members which hold notable energy resources should create a special energy zone in which they provide investors with special facilities.

The proposal for creating the special energy zone will be discussed at the meeting of energy ministers of the ECO member states which will be held in Tehran on June 25-27, Qasemi said, the Shana News Agency reported.

The ECO is an intergovernmental regional organisation established in 1985 by Iran, Pakistan and Turkey which provides a platform to promote economic, technical and cultural cooperation among member states.

The organisation was expanded in 1992 to include seven new members, including Afghanistan, Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan.