Connectivity, trade, and economic cooperation: Pakistan can act as a natural partner with SCO

ISLAMABAD: Pakistan can act as a natural partner with Shanghai Cooperation Organization (SCO) for promoting connectivity, trade, and economic cooperation in the region.

This was stated by Ambassador (retd) Babar Amin, Pakistan first-ever National Coordinator for SCO while speaking at a roundtable titled, "Shanghai Cooperation Organization: Pakistan Policy, Priorities and Opportunities."

The discussion was organised by China-Pakistan Study Centre (CPSC) at the Institute of Strategic Studies (ISSI).

Ambassador Babar Amin, in his keynote address, outlined Pakistan’s strategic objectives within the organisation.

He highlighted Pakistan efforts to strengthen bilateral relations with Russia through the SCO platform and emphasized the importance of connectivity and infrastructure development, particularly in addressing energy crises.

He noted that Pakistan can act as a natural partner with SCO for promoting connectivity, trade, and economic cooperation in the region.

He said that the China-Pakistan Economic Corridor (CPEC) aligns naturally with goals of SCO for regional connectivity and promotion of trade.

He said that Pakistan can also assist SCO member countries in the area of security cooperation due to its extensive counter-terrorism experience and collaboration with the RATS (Regional Anti Terrorism Structure) mechanism of SCO.

He added that by actively participating in SCO meetings and initiatives, Pakistan aims to strengthen its historical ties with Central Asia and further solidify its comprehensive strategic cooperative partnership with China.

He said that the key strategic priorities for Pakistan within the SCO include establishing itself as a credible partner, particularly in contrast to India's selective engagement and perceived alignment with Western preferences.

He said that Pakistan seeks to enhance non-traditional security cooperation through the RATS mechanism within the SCO, fostering collaboration on defense and security matters. Additionally, SCO platforms provide opportunities for constructive engagement with India, presenting avenues for future bilateral meetings and dialogue on the sidelines.

The roundtable provided valuable insights into Pakistan’s upcoming pivotal role in the SCO in the run-up to Council of Heads of Government (CHG) summit to be hosted by Pakistan as well as its vision for regional cooperation and economic integration.

In his welcome remarks, DG ISSI Ambassador (retired) Sohail Mahmood underscored the significance of SCO as a trans-regional platform.

He highlighted the importance of SCO in contemporary global milieu, opportunities for Pakistan as the country prepares to take a leading role in the Organization, and the challenges that should be kept in view regarding SCO’s objectives and role in future. He highlighted that since its establishment in 2001, SCO has grown to become a "big family" of 26 countries, including member states, observers and dialogue partners.

He added that, commutatively, SCO accounts for 60 per cent Eurasian landmass 40 per cent of global population, and nearly 30 per cent of global GDP.

He said that SCO continues to carry the “Shanghai Spirit” of mutual trust, equality, respect for diversity and pursuit of common development, as opposed to any zero-sum perspectives or notions of geopolitical confrontation or civilizational clash.

Dr Liaqat Ali Shah, Executive Director of the Centre of Excellence for China-Pakistan Economic Corridor (CPEC), emphasized the multifaceted nature of SCO’s agenda, aligning with the Belt and Road Initiative (BRI).

He stressed that the potential for synergy between SCO and BRI, and in extension, with CPEC, is essential to promote regional integration.

He also emphasized the need for inclusivity and multilateral participation in economic cooperation at the SCO forum.

For this to better materialize from Pakistani side, there needs to be better coordination in policymaking and implementation, he added.

Addressing the challenges and opportunities of financial integration within the SCO, Dr Shazia Ghani, Senior Research Associate at the Grenoble Centre of Research on Economy, France, emphasized the importance of understanding the diverse economies of SCO member states and the necessity for exportable surplus to leverage economic potential effectively. She further added that it is the need of the hour at the SCO platform to discuss prospects of trading in regional currencies, like the Renminbi, as the shift to trading in other currencies now appears inevitable.

Copyright Business Recorder, 2024