The 17th Summit of the Economic Cooperation Organization (ECO) was successfully held in Khankendi, Azerbaijan, highlighting the region’s revival and the deepening economic cooperation among member states.
The 17th ECO Summit took place in Khankendi, the historic city in Azerbaijan's Karabakh region, marking a significant milestone for the organization and the host country.
Azerbaijani President Ilham Aliyev welcomed participants, underscoring the symbolic importance of holding the summit in a territory recently liberated and undergoing reconstruction after decades of occupation. The event showcased Azerbaijan’s progress in rebuilding and its commitment to regional cooperation and development.
The summit focused on expanding economic ties, fostering trade, and addressing challenges such as climate change and sustainable energy. Leaders highlighted ongoing initiatives like the ECO Week forums for business, youth, and women, which have contributed fresh ideas for the organization’s strategic plans through 2035.
Participants expressed support for regional peace and stability, emphasizing the importance of resolving conflicts diplomatically and promoting economic integration. Several countries praised Azerbaijan’s leadership and efforts in hosting the event, while also committing to stronger cooperation in areas such as transport, energy, digital technologies, and climate action.
ECO Secretary General Asad Majeed Khan lauded Azerbaijan’s role in revitalizing the organization, setting new standards for collaboration, and involving a broader range of stakeholders in shaping the future of economic cooperation.
The summit concluded with President Ilham Aliyev expressing gratitude to all participants and reaffirming the shared vision for sustainable regional prosperity.
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Shipping through the Strait of Hormuz has slowed, according to the latest data, as uncertainty over the waterway’s reopening kept most shipowners away. Six commodity vessels crossed the strait on Tuesday, down from nine the day before and below the 10-day daily average of 11.
Shipping traffic through the Strait of Hormuz remains limited on Thursday, with no increase in vessel crossings as U.S.-Iran talks to resolve the conflict remained stalled. Nine commodity vessels transited the key waterway on Wednesday, unchanged from the previous day, according to Kpler data.
Iran has said the Strait of Hormuz will remain closed until the U.S. fulfils the terms of an interim deal, including lifting the maritime blockade and sanctions and releasing Iran’s frozen assets.
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