SCO ministers unite to counter protectionism, strengthen trade

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SCO ministers unite to counter protectionism, strengthen trade​

Mubarak Zeb Khan
September 13, 2024

ISLAMABAD: A group photo of the participants of the meeting of ministers from member states of the SCO.—APP

ISLAMABAD: The Shanghai Cooperation Organisation (SCO) trade ministers on Thursday underscored the need to counter protectionist trade measures and called for the strengthening of a non-discriminatory, World Trade Organisation-based multilateral trading system.

The 23rd ministerial meeting saw the endorsement of three major initiatives — launched by Pakistan, Kazakhstan and Russia — to foster deeper cooperation among member countries. Representatives from seven nations gathered in Islamabad, with Belarus welcomed as a new member of the SCO.

The Indian vice-minister of commerce and industry, along with Kazakhstan’s vice-minister of national economy, attended the conference virtually. Other countries represented by ministers or deputy ministers included Tajikistan, Uzbekistan, Belarus, Iran, the Kyrgyz Republic, China and Russia.

The participation of a senior Indian official has sparked mixed reactions among trade experts, with some viewing it as a potential step towards rekindling dialogue, while others remaining cautious, citing India’s decision not to send a representative in person.

When asked about unconfirmed reports that Indian Prime Minister Narendra Modi may not attend the October summit, a Foreign Office spokesperson said in a weekly briefing that no official communication had been received from the Indian government regarding its representation. The spokesperson also confirmed that Prime Minister Shehbaz Sharif had invited the heads of states from all SCO member states.

During Thursday’s meeting, the ministers endorsed Pakistan’s proposal to enhance cooperation between the Trade Promotion Organisations (TPOs) of SCO member states. This plan aims to improve coordination, deepen trade integration and create new economic opportunities across the region.

Similarly, Kazakhstan’s proposal to establish a Database of Economic Preferences for the SCO region was approved. This database will provide a comprehensive resource for member states, helping them with economic incentives and preferences within the bloc and fostering a more unified business environment.

The summit also endorsed Russia’s plan to promote the creative economy in the region, emphasising the importance of innovation-driven economic growth. The 23rd meeting, chaired by Pakistan’s Commerce Minister Jam Kamal, marked the country’s leadership as chair of the SCO Council of Heads of Government, the organisation’s second-highest forum.

Published in Dawn, September 13th, 2024