Economic growth, regional integration: SCO summit provides a distinctive platform: ICCI

ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) on Wednesday while hailing the successful hosting of Shanghai Cooperation Organisation (SCO) summit in Pakistan said that it provided the country a distinctive platform to strengthen journey of economic growth and regional integration.

ICCI President Nasir Mansoor Qureshi said it served as a platform for advancing cooperation in technology, especially in areas like digital transformation, cyber security, and e-commerce.

He also commended Prime Minister Shehbaz Sharif for highlighting the significance of peace and stability in Afghanistan for the growth of trade and development among all the stakeholders as well as exercising the collective wisdom for fostering progress and prosperity for the shared community.

Qureshi congratulated the prime minister and his entire team for the hard work for the Summit which manifested the collective voice and wishes of over 40 percent of world population. He said that SCO remained the beacon of stability and development for the mutual benefit of the people in the region.

He appreciated that the participants acknowledged the importance of developing ports, logistics and railway infrastructure, scientific and technological innovations, the development of multi- and inter modal transport, modern logistics centres and human resources, digitalization, ensuring safety, including environmental initiatives, in railway transport, as well as the development of interconnectivity and creation of efficient transport corridors, development of micro, small and medium-sized enterprises is important to stimulate economic growth and create jobs, which will serve as impetus for the economic development of the member states as well as the other countries.

He expressed the hope that all the member states will whole heatedly collaborate to address the shared challenges and work hand-in-hand for promoting cross-border infrastructure projects, expanding transport networks, and streamlining customs procedures to enhance connectivity which in turn will ultimately prove a driving force for the growth of worst affected businesses and trade. Pakistan, with its burgeoning IT sector and thriving startup ecosystem, can play a pivotal role in driving this collaboration, he added.

The region’s vast energy resources, including Central Asia’s and Russia’s oil and gas reserves, present valuable opportunities for energy cooperation, he further said.

The ICCI president went on to say that now Pakistan has to focus on creating an integrated regional economic zone, which would not only boost trade but also strengthen people-to-people links, cultural exchanges, and tourism among SCO member states, adding that Pakistan’s agricultural sector holds tremendous potential for collaboration with Central Asian countries, which have a growing demand for agricultural products and could benefit from Pakistan’s expertise in farming technology.

He also congratulated the Russian leadership on assuming the chairmanship of the Council and holding the next CHG meeting in Russia next year.

Copyright Business Recorder, 2024