You are here: Home » International » News » Politics
Business Standard

SCO achieves new progress with entry of India, Pakistan: Xi Jinping

Xi said as a trend towards multi-polarity and economic globalisation is deepening, there was a need to enhance cooperation among the SCO countries

Manash Pratim Bhuyan | PTI  |  Qingdao (China) 

Chinese President Xi Jinping, Prime Minister Narendra Modi

The has made new progress after the entry of India and Pakistan, Chinese President said on Sunday as he welcomed Prime Minister Narendra Modi and President Mamnoon Hussain to the eight-member grouping.

Prime Minister Modi and President Hussain attended the summit for the first time after both countries were admitted as members of the Beijing-based (SCO) last year.

Xi, also host of the 18th SCO summit, in his opening remarks said that the presence of Prime Minister Modi and President Hussain at the meeting here in the east Chinese port city was “of great historic significance.”

“The SCO enjoys strong vitality and momentum of cooperation,” Xi said, attributing the organisation's standing to the Shanghai Spirit. He called for the pursuit of common, comprehensive, cooperative and sustainable security.

"We should reject the Cold War mentality and confrontation between blocs and oppose the practices of seeking absolute security of oneself at the expense of the security of other countries, so as to achieve security of all," he said.

He said countries should work for promoting open and inclusive cooperation for win-win outcomes.

"We should reject self-centered, short-sighted and closed-door policies. We should uphold WTO rules and support the multilateral trading system so as to build an open world economy," Xi said amidst a looming trade war between and the United States over tariffs.

Later, addressing a press conference at the conclusion of the summit, the Chinese President said the SCO members will uphold the authority and efficacy of WTO rules, strengthen an open, inclusive, transparent, non-discriminatory and rules-based multilateral trading regime, and oppose trade protectionism of any form.

"During this summit, we have fully recognised the new progress made by our organisation since the accession of India and Pakistan," Xi said.

"We point out that economic globalisation and regional integration are the compelling trend of our times," he said.

He said all parties will continue to work in line with the principle of mutual benefit to improve regional economic cooperation arrangements, deepen cooperation in business, investment, finance, connectivity and agriculture, advance trade and investment facilitation to deliver benefits to the people and add fresh impetus to global growth.

"We have agreed to abide by the goals and principles of the SCO Charter, carry forward the Shanghai Spirit of mutual trust, mutual benefit, equality, consultation, respect for diversity of civilisations and pursuit of common development," he said.

Xi said as a trend towards multi-polarity and economic globalisation is deepening, there was a need to enhance cooperation among the SCO countries.

ALSO READ: SCO Summit 2018: India refuses to endorse Xi Jinping's OBOR at Qingdaot

"In the face of tortuous recovery of the world economy and various and regional hotspot issues, countries are confronted with many common threats and challenges that no one can tackle alone.

"Only by enhancing solidarity and coordination and deepening partnerships featuring peace, cooperation, equality, openness, inclusiveness and mutual benefit, we will be able to achieve lasting stability and development," Xi said.

The SCO members have agreed to jointly pursue regional peace, stability and development by promoting good-neighborliness and friendship and deepening practical cooperation, the Chinese President said.

Earlier, in his address, Xi called for adhering to extensive consultation, joint contribution and shared benefits in global governance, steadily reforming and improving the global governance system, and pushing all countries to jointly build a community with a shared future for humanity.

The SCO member states need to actively implement the 2019-2021 programme of cooperation for combating terrorism, separatism and extremism, he said. Member nations should enhance cooperation on defence security, law enforcement security and information security, Xi said.

Xi said that the SCO members need to build a powerful engine to achieve common development.

will set up a 30-billion-yuan (USD 4.7 billion) equivalent special lending facility within the framework of the SCO Inter-bank Consortium, Xi said.

The SCO has eight member countries which represents around 42 per cent of the world's population and 20 per cent of the global GDP.

Besides Prime Minister Modi and President Xi, other leaders attending the summit include Russian President Vladimir Putin and Iranian President Hassan Rouhani.

The SCO was founded at a summit in Shanghai in 2001 by the presidents of Russia, China, Kyrgyz Republic, Kazakhstan, Tajikistan and Uzbekistan. India and Pakistan became its members last year.

First Published: Mon, June 11 2018. 00:43 IST