Ambassador Zhang Ming discusses broad range of international, regional development issues with minister for commerce.

ISLAMABAD    -   Secretary General of the Shanghai Coop­eration Organisation (SCO), Ambassador Zhang Ming on Thursday arrived in Paki­stan on a two-day visit.

He will be heading a delegation com­prising officials from the SCO Secretariat based in Beijing.

During his stay, the SCO Secretary Gen­eral will have meetings with the Foreign Minister as well as ministers of com­merce, climate change, information tech­nology and maritime affairs. He will also speak at the Institute of Strategic Studies Islamabad (ISSI) and engage with busi­ness leaders and entrepreneurs.

The SCO is a major trans-regional mul­tilateral organisation with 8 members in­cluding China and Russia. SCO countries are home to 41% of the global population and account for 23% of global GDP.

The SCO provides an important plat­form for Pakistan to further strengthen its deep-rooted and historic ties with the member states and promote socio-eco­nomic cooperation for mutual benefit across diverse areas.

The visit of the SCO Secretary General will provide an opportunity for Pakistan to engage with the SCO Secretariat while highlighting its perspective and priori­ties for making SCO mechanisms more effective in advancing shared regional se­curity and economic goals.

Meanwhile, SCO Secretary General met with Federal Minister for Commerce to discuss broad range of international and regional development issues and dis­cussed trade, economic, cultural and hu­manitarian cooperation in the SCO space.

Ambassador Zhang Ming discussed the organisation’s successful development as an effective mechanism of equal part­nership based on the Shanghai spirit and also that SCO has taken a befitting place in the system of international organisa­tions of multilateral cooperation.

The Commerce Minister endorsed the importance of the SCO’s initiatives on promoting interaction in the develop­ment of a new type of international re­lations in the spirit of mutual respect, justice, equality and mutually beneficial cooperation. The minister also regarded the SCO’s substantial contribution to re­gional security, global economic develop­ment, social, cultural and scientific ties in the region. He hoped that the SCO mem­ber states would continue developing cooperation in the fields of politics and security, trade, economy, finance invest­ment, as well as cultural and humanitari­an ties towards a peaceful, safe, prosper­ous and ecologically friendly region.

The minister appreciated the initia­tives of SCO like financial institutions and development institutions under SCO In­terbank Consortium (SCO IBC) which are aimed at containing the growing chal­lenges and restoring the stability of the global economy through effective imple­mentation.

The Commerce Minister also shown his keen interest in the importance of joint promotion of entrepreneurial initi­atives in the field of micro, small and me­dium-sized businesses and intraregional cooperation and creation of the SCO De­velopment Bank and the SCO Develop­ment Fund along with developing a draft roadmap on the gradual increase of the share of national currencies in recipro­cal payments by the interested member states.