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Colombo Plan signs MoU with Economic Cooperation Organisation

A Memorandum of Understanding (MoU) was recently signed in Colombo between the Economic Cooperation Organisation (ECO) and the Colombo Plan (CP). The ECO is an inter-governmental regional organisation, based in Tehran, Islamic Republic of Iran, which was established for the purpose of promoting regional economic cooperation among its member states. Unlike the Colombo Plan whose geographical focus is the Asia-Pacific region, the ECO's membership is limited to countries of West and Central Asia.

Subject to the availability of resources, the two organisations agreed to develop cooperation and collaboration in assisting their respective member countries to address development issues and concerns; to enhance national capacities in identified areas of common interest; to conduct joint training programmes; to exchange publications; and to establish linkages through exchanges of information.

The ECO and the CP also agreed to cooperate with each other in the following specific areas of mutual interest: TCDC/south-south cooperation; human resources development; small and medium scale enterprises development; trade and investment promotion; and drug abuse prevention and control.

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