Pakistan committed to 'Shanghai Spirit'

SCO Business and Investment Conference opens in federal capital

ISLAMABAD:

Senate Chairman Syed Yousaf Raza Gilani on Thursday reaffirmed Pakistan's strong adherence to the "Shanghai Spirit" and its commitment to building mutual trust, equality, respect for diversity, and the pursuit of common development.

Addressing the Shanghai Cooperation Organization (SCO) Business and Investment Conference, Gilani highlighted Pakistan's dedication to fostering regional cooperation within the SCO framework.

He said, "Immense potential exists for trade, investment, and joint ventures in areas such as energy, infrastructure, agriculture, and technology."

He emphasised Pakistan's strategic location, rich natural resources, and skilled workforce, which make the country an attractive destination for foreign investment. He also stressed the importance of strengthening economic ties with SCO partner nations.

Gilani noted that the China-Pakistan Economic Corridor (CPEC) provides vital access to international markets for landlocked SCO partners, while Pakistan is also focusing on other avenues to promote regional development.

He pointed out that the Special Economic Zones (SEZs) offer lucrative opportunities for investment and industrial growth, paving the way for innovation and employment across the region.

He urged member countries to prioritise collaboration in sectors such as agricultural technology, renewable energy, and digital infrastructure to accelerate sustainable economic growth.

Gilani also called for enhancing people-to-people exchanges and business-to-business cooperation to build lasting partnerships that benefit both economies and citizens.

The Chairman encouraged the business community to explore new markets and promote economic integration through tariff reductions, simplified customs procedures, and increased market access.

He also stressed the importance of innovation and entrepreneurship, advocating for joint research initiatives, technology transfers, and start-up collaborations to create jobs, boost productivity, and ensure competitiveness in the global market.

"Challenges can only be tackled through collective action and a shared vision," Gilani remarked.