SCO trade ministers' meet today
Trade ministers from all SCO member states, including India, have been invited. PHOTO: FILE
Pakistan is hosting the 23rd Meeting of Ministers of the Shanghai Cooperation Organization (SCO) Member States responsible for Foreign Economic and Trade Activities on Thursady, said an official handout.
"This important event, where Ministers of SCO countries dealing with External Trade and Commerce would be representing their countries, will be chaired by Pakistan's Commerce Minister, Mr. Jam Kamal Khan," it added.
Pakistan invited trade ministers from SCO member states, including India. However, New Delhi will attend the meeting virtually as Indian trade minister will not travel to Islamabad. The Ministerial meeting is the culmination of preparatory work undertaken during a series of Meetings of the Commission of Senior Officials (CSO) of SCO Member States ending in Islamabad on 10th and 11th September 2024. In their deliberations, the SCO Ministers will focus on ways to bolster regional cooperation for enhancing trade, advancing sustainable development and promoting connectivity among SCO countries for enhancing economic prosperity in the region.
Deliberations and outcome of this Ministerial meeting will be discussed and approved during the upcoming meeting of Council of Heads of Government scheduled to take place on 15-16 October 2024 in Islamabad.
Pakistan is hosting these meetings in its capacity as the incumbent Chair of the SCO Council of Heads of Government, the second highest SCO forum that deals with all economic, trade, social, cultural and humanitarian issues as well as the personnel and budgetary matters of the organization.
The SCO represents a significant cross-regional bloc, accounting for nearly half of the world's population and a substantial portion of global GDP. Strengthening trade and economic ties within this framework is crucial for addressing shared challenges and tapping into the vast economic opportunities the region offers.
As the host and Chair of SCO-CHG, Pakistan is dedicated to using this platform to promote enhanced economic cooperation within the region.
With its strategic geographical location and growing trade potential, Pakistan seeks to play a facilitating role in shaping the future of regional commerce and trade partnerships for the mutual benefit of the people of SCO countries.
SCO is a Eurasian political, economic, and security alliance, founded in 2001 by China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan. It has since expanded to include India, Pakistan, and Iran as full members, with Afghanistan, Belarus, and Mongolia as observers, and other countries as dialogue partners. The SCO is often seen as a counterbalance to Western alliances like NATO and plays a significant role in fostering regional cooperation.