Planning and Budgeting

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EU relative success of regional integration has encouraged other regions of the world to make new regional arrangements with the aim of economic growth and development as well as extending peace and friendship in their own regions. Economic Cooperation Organization (ECO) was formed in line with the same goals. At the first glance, these two regional bodies might seem incomparable as far as their goals, statute, performance and terms are concerned however some member countries of ECO do not evaluate its present performance as satisfactory and wish to improve it a to better status. This article tries to examine ECO concerns with a view of EU relative success in mind. Based on the review of the related literature on the EU regional body, the researchers categorize ECO problems into two: first, structural problems such as the lack of dynamic democracy and economic liberalism, as well as geopolitical vulnerability and negative the influence of trans-regional powers, and second, the lack of trade strategies. The research findings show that ECO has not yet finalized the first step of regional integration, i.e. the unity of the customs. Therefore, the members’ motivation for progress has diminished. The authors are still hopeful about destiny of ECO. This article do not assess EU situation as ideal or without difficulty. Yet realistically speaking, the EU success in regional integration could be an examinable model for the world. Consequently, European experience might helpful for ECO.

Keywords: European :union: (EU), Economic Cooperation Organization (ECO), Regionalism, Integration

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