The prime ministers of the Shanghai Cooperation Organization (SCO) on Monday adopted a joint declaration following their 19th meeting, stressing the organization's crucial role in the international arena and calling for greater cooperation based on a more inclusive and non-discriminatory trading system to promote a stronger global economy
NEW DELHI (Pakistan Point News / Sputnik - 30th November, 2020) The prime ministers of the Shanghai Cooperation Organization (SCO) on Monday adopted a joint declaration following their 19th meeting, stressing the organization's crucial role in the international arena and calling for greater cooperation based on a more inclusive and non-discriminatory trading system to promote a stronger global economy.
"The Heads of delegations noted the importance of further deepening cooperation in order to support and jointly develop a transparent, open, inclusive, fair, non-discriminatory multilateral trading system based on the principles and rules of the World Trade Organization (WTO) and to promote an open world economy," the joint declaration published on the Indian Foreign Ministry's website read.
The 66-point document also includes a clause outlining the importance of reforming the WTO, including by improving its negotiation, monitoring and dispute resolution functions.
"The Heads of delegations spoke in favor of further deepening cooperation between the SCO Member States in creating favorable conditions for expanding mutual investments by improving the investment and business climate," it added.
The prime ministers also spoke in favor of continuing consultations on the establishment of the SCO Development Bank and the SCO Development Fund.
The 19th meeting of the SCO Council of Heads of Government was held online under India's chairmanship for the first time. India was represented by Vice President Venkaiah Naidu. The other participants included prime ministers of Russia, China, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan, as well as the Pakistani parliament's secretary for foreign affairs. The meeting was also attended by representatives of four SCO observer states � Afghanistan, Belarus, Iran and Mongolia � and Turkmenistan as a special guest.
