Islamabad: The Commerce Minister of Pakistan, Jam Kamal Khan, extended a warm welcome to his counterparts from the Shanghai Cooperation Organization (SCO) member states, reaffirming Pakistan’s commitment to the organization’s core objectives of promoting peace and prosperity in the region. Addressing the pressing global economic challenges, Khan emphasized the role of the SCO in fostering cooperation to overcome these hurdles. He reiterated Pakistan’s dedication to working alongside all member states to achieve shared goals, urging them to seize the opportunity to forge stronger partnerships and enhance regional cooperation for a brighter future.
In a significant diplomatic event, Pakistan hosted the 23rd Meeting of Ministers of the SCO Member States responsible for Foreign Economic and Trade Activities. As the Chair of the SCO Council of Heads of Government, Pakistan played a pivotal role in convening this meeting, which was preceded by the 47th Meeting of the Commission of Senior Officials (CSO) on 10th and 11th September 2024 in Islamabad. The gathering highlighted Pakistan’s leadership and its active role within the SCO, underscoring its commitment to regional trade and economic cooperation.
During the meeting, SCO Ministers engaged in detailed discussions on enhancing economic and trade cooperation among member states. The Ministerial Statement adopted at the meeting outlined key areas of focus, including promoting fair trade practices, fostering innovation, and strengthening ties in digital technologies. The ministers also emphasized the importance of countering protectionist trade measures and called for the reinforcement of a World Trade Organization (WTO)-based multilateral trading system. Addressing climate change, the ministers stressed the need for collaboration in line with the UN Sustainable Development Agenda to mitigate its impact on regional economies.
One of the notable outcomes of the meeting was the approval of Pakistan’s proposal on cooperation between Trade Promotion Organizations (TPOs) within the SCO region. This initiative aims to boost collaboration, facilitate trade integration, and create new economic opportunities. Additionally, a Kazakh proposal for creating a Database of Economic Preferences and a Russian proposal on promoting the creative economy were also approved. The successful conclusion of the ministerial meeting highlights Pakistan’s leadership in advancing multilateral trade cooperation within the SCO framework.
