SCO asked to develop economic strategy

Source: Tribune
14th Shanghai Cooperation Organisation (SCO) Prime Ministers’ Meeting, in Zhengzhou, China earlier this year. PHOTO: FILE


Shanghai Cooperation Organisation (SCO) Secretary General Zhang Ming visited the FPCCI Capital Office and discussed the importance of effectively utilising the potential of multilateral trade and economic cooperation.

The SCO secretary general, who called on Federation of Pakistan Chambers of Commerce and Industry (FPCCI) chief Irfan Iqbal Sheikh and Chairman Coordination Mirza Abdul Rehman, also exchanged views on a visa sticker scheme for the SCO member states to enhance people-to-people contacts in the region so that bilateral and multilateral trade and business could flourish.

Participants of the meeting reaffirmed that SCO must consider taking meaningful initiatives to develop and adopt an economic development strategy for
the region.

Sheikh voiced hope that the meeting with Zhang would open new vistas in the relationship between Pakistan and the SCO member countries.

“SCO provides an excellent opportunity to create linkages as the bloc has proposed that all members should try to simplify trade procedures and work for a free trade agreement.”

The FPCCI chief lauded the creation of SCO Development Bank and SCO Development Fund along with the formulation of a draft roadmap on the gradual increase in national currencies’ share in reciprocal payments by the interested member states.

He said the FPCCI was looking forward to enhancing trade and investment with the SCO region and forging a formidable economic alliance for mutual prosperity and development of member nations.

He also highlighted the economic and commercial potential of China-Pakistan Economic Corridor (CPEC) and Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project.