SCO Summit Signs Important Documents to Strengthen Economic, Trade Cooperation

Wed Oct 16 2024
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ISLAMABAD: The Shanghai Cooperation Organization (SCO) Heads of Government (CHG) meeting in Islamabad concluded with the signing of important documents including the Joint Communique and the ones related to furthering the economic and trade cooperation among member states.

Pakistan’s Prime Minister Shehbaz Sharif, in his concluding remarks, announced the transfer of the Council of Heads of Government chairmanship to the Russian Federation. He congratulated Russia and assured Pakistan’s full support during its leadership. The next SCO Heads of Government meeting will be held in Russia next year.

Describing the meeting as a success, Prime Minister Shehbaz emphasized the joint commitment to building a sustainable future for the next generations. He reaffirmed Pakistan’s dedication to the SCO’s common goals. He stressed the need for collaboration over political differences. “We must address our shared challenges and work together to ensure that the SCO remains a beacon of stability and development for the mutual benefit of our peoples,” he said.

SCO Summit, Pakistan, Israel's Genocide, Palestinians

Prime Minister Shehbaz also expressed concern over the ongoing genocide in Gaza and called for an immediate and unconditional ceasefire. He said that the ongoing genocide in Gaza cannot be ignored and the international community bears the responsibility to ensure an immediate and unconditional ceasefire. He reiterated Pakistan’s support for the establishment of a Palestinian state based on pre-1967 borders, with Al-Quds as its capital.

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Delivering Pakistan’s national statement at the 23rd SCO CHG meeting, Prime Minister Shehbaz Sharif urged member states to work together for a well-connected and prosperous region. He highlighted the importance of enhanced connectivity, poverty alleviation, climate action, and business collaboration to secure a brighter future for the SCO region.

Shehbaz Sharif, Gwadar International Airport, Chinese Premier, leadership, Pakistan's economic development, Pakistan, China,

PM Shehbaz underscored the need for a robust connectivity framework within the SCO, saying it should not only enhance regional trade but also advance the vision of a connected Euro-Asia. In this context, he called for the expansion of key projects like the Belt and Road Initiative (BRI) and the International North-South Transport Corridor.

Prime Minister Shehbaz welcomed the adoption of the SCO’s energy cooperation strategy for 2030 and the establishment of the Association of Investors, adding that Pakistan is ready to contribute towards realizing these ambitions.

On the topic of regional stability, Prime Minister Shehbaz highlighted Afghanistan’s critical role in unlocking the SCO region’s potential. He urged the global community to provide urgent humanitarian assistance to Afghanistan. He called on the Afghan interim government to ensure its soil is not used for terrorism against neighboring countries.

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The Prime Minister also called for collective action to address poverty and improve the quality of life in the region. He described climate change as an existential crisis and called for environmental cooperation within the SCO to enhance resilience against disasters. Pakistan, being at the forefront of climate-induced disasters, has welcomed the recent SCO agreement on environmental protection and looks forward to conducting simulation exercises to strengthen disaster preparedness across the region.

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Discussing the global financial architecture, Prime Minister Shehbaz stressed the need for reform to foster development. He supported the establishment of an SCO alternative development funding mechanism, which he said could help revive stalled development projects. He also encouraged member states to promote private-sector investment and business opportunities within the SCO region.

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Prime Minister Shehbaz Sharif said the growing consensus among member states on the use of mutual currencies for settlements is a promising development.

The Prime Minister said Pakistan firmly believes that a stronger and more effective SCO is essential to achieving sustainable development in the region.

PM Shehbaz Sharif said SCO is the rich mosaic of our cultures and the diversity of our people that forms the heart of this organization.  He added that Pakistan remains deeply committed to fostering people-to-people ties and cultural exchanges that bridge divides and promote harmony, cultivate understanding and deepen cooperation.

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Earlier, in his opening remarks the Prime Minister said this meeting is another testament to the strength of our ties and collaboration among the diverse nations. He emphasized that SCO has the potential to drive socio-economic progress, enhance regional peace and stability and improve the quality of life for its citizens.

The SCO meeting in Islamabad further solidified the organization’s role in driving socio-economic progress and enhancing regional peace and stability.

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