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Member Countries Of Shanghai Cooperation Organisation Should Cooperate In Developing E-commerce In Region

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Vladimir Norov, Secretary General, Shanghai Cooperation Organisation (SCO), said that the member countries of SCO should cooperate in developing e-commerce in the region as it is rapidly growing and changing the structure of world economy. Speaking at an industry interaction, 'Enhancing Indian Industry's Engagement with SCO' organised by FICCI, Norov said, Given that India is one of the driving forces behind the development of digitalisation and electronic commerce, it is important that India actively participates in promoting e-commerce among the SCO countries. Norov said that e-commerce provides opportunities for companies to expand their markets, scale up their businesses, reduce transaction cost through economies of scale and more efficient use of capital, as well as to create new jobs.

Further, he said that globalisation process despite the rise of some restrictive trade practices has opened up great opportunities for the growth of developing countries and SCO can play a key role in facilitating and boosting international trade. India's accession to SCO as a full-fledged member has opened up new opportunities for further development and deepening of full-scale cooperation. This will be beneficial to India and other SCO member states, he added.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, January 14 2020. 12:40 IST