THE ECONOMIC CO-OPERATION ORGANISATION (ECO): REALITY OR UTOPY?

Abstract

Turkey is fully integrated into the world economy. It has close bilateral and multilateral relations with many countries within the framework of international economic organisations. In other words, Turkey has always put emphasis on becoming part ofregional economic organisations in order to develop its foreign trade and accelarate its economic growth. In particular, the disintegration of the Soviet Union created new opportunities for Turkey. Independent countries emerged in the southern part of the former Soviet Union which were receptive to the reactivation ofbonds with Turkey rooted in their Muslim cultural tradition and, to a great extent, their affiliation to the family ofTurkic peoples. The Economic Co-operation organisation (ECO) in whose establishment Turkey played an important role is a good example for that. The European Union (EU) also has an interest in the ECO region. A market with 355 million people, vast natural resources and a strong labour force makes the ECO o f special interest to the EU. The integration o f the ECO is significant for the EU not only economically but also for reasons of security. 

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