Senate approved law on ratification Izmir Treaty

This agreement allows Uzbekistan to increase the volume of foreign investments, expand transport and logistics corridors, expand transit transportation tariffs, and increase the attractiveness of countries to tourists.
On November 18, 2022, at the thirty-fifth plenary session of the Senate, the law "On the ratification of the Treaty of Izmir (Izmir, September 14, 1996)" was considered.
This Agreement was signed on September 14, 1996 by 10 countries - Afghanistan, Azerbaijan, Pakistan, Kyrgyzstan, Kazakhstan, Tajikistan, Turkey, Turkmenistan, Iran and Uzbekistan, and is the founding document of the Economic Cooperation Organization (ECO). .
This document defines the organizational structure of the Economic Cooperation Organization, its goals and principles of operation, as well as financial issues and the procedure for making decisions in the organization.
It is noted that the ratification of the Izmir Agreement by Uzbekistan creates a legal basis for full membership of the Economic Cooperation Organization, and also allows for extensive cooperation with the member states of the organization.
Uzbekistan's full participation in the organization allows to increase the volume of foreign investments, expand transport and logistics corridors,  expand transit transportation tariffs, and increase the attractiveness of countries to tourists.
According to the results of the discussion, the senators approved the Law.