The Economic Cooperation Organization (ECO) region consists of 10 member states: Islamic State of Afghanistan, Azerbaijan Republic, Islamic Republic of Iran, Republic of Kazakhstan, Kyrgyz Republic, Islamic Republic of Pakistan, Republic of Tajikistan, Republic of Turkey, Turkmenistan and Republic of Uzbekistan.
The ECO region is geographically vast and well-endowed with potential economic resources in different fields and sectors, such as agriculture and arable land, energy and mining, human resources, and a vast strategic trading region. The ECO region as a whole posted a robust annual average real GDP growth rate of more than 4% over the last decade. The overall nominal GDP of the region stood at USD 1.73 trillion at the end of 2016.
The regional countries continued to implement a range of reforms to create favorable conditions for attracting Foreign Direct Investment (FDI) which includes improvements in investment legislation, privatization of state-owned enterprises, and liberalization of investment flows. With around 464 million inhabitants, ECO region houses around a little more than 6% of the world population, whereas the total trade share of the region in the world trade is a little higher than 2%. The intra-regional trade ratio stood at 8.7% at the end of 2016. The regional economies are continuously making efforts to promote intra-regional trade and implementing measures to improve regulatory framework in the region.