Ambassador Usmanov believes SCO will play important role in global economic integration

Ambassador Usmanov believes SCO will play important role in global economic integration

Synopsis

KARACHI: Aybek Arif Usmanov, the Uzbek ambassador to Pakistan, stated on Sunday that member nations of the Shanghai Cooperation Organisation (SCO) may play a vital role in global and regional economic and commercial integration in the current situation.

Ambassador Usmanov believes SCO will play important role in global economic integration
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KARACHI: Aybek Arif Usmanov, the Uzbek ambassador to Pakistan, stated on Sunday that member nations of the Shanghai Cooperation Organisation (SCO) may play a vital role in global and regional economic and commercial integration in the current situation.

According to the Ambassador of Uzbekistan to Pakistan, SCO has important member countries in terms of geo-economic and geopolitical position, including developed economies, which can play an important role in the development of global and regional economies through this organizational platform.

By uniting South Asia and Central Asia, the SCO members’ trade and economic bloc can unite the markets of the European Union and Eurasia for trade purposes, he said.

Similarly, world commerce can be linked by gaining market access to key trading regions such as the Association of Southeast Asian Nations (ASEANs) and the Middle East through this crucial global trade bloc, which is predicted to accelerate in the world of trade, according to the ambassador. Uzbekistan was holding the SCO annual summit 2022 of the SCO Heads of State Council on September 15-16 in Samarkand, he added.

According to the Uzbek envoy, Pakistan and Uzbekistan play a critical role in providing trade and economic integration to SCO member nations, ushering in a new age of economic integration for all members.

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He noted that this year’s SCO summit would focus on technology, information technology, and renewable energy, which would assist to reshape trade and economic connections among member countries.

This year’s Summit will also include talks on telemedicine, which has contributed to the introduction of many new aspects in the medical sphere since COVID-19, potentially opening up new channels for economic cooperation among member states, he noted. He predicted that member states would sign renewable energy agreements at the same time.

Women’s empowerment, he said, is a major subject that will be considered in member nations and on which a future plan would be developed. The envoy stated that the SCO countries’ leaders, especially those from Central Asia, are now fully committed to the member countries’ economic and commercial integration as well as increased bilateral trade and economic operations.

According to Ambassador Usmanov, infrastructure and road and rail connectivity are critical in bilateral and transit commerce, which would boost economic activity in SCO members. In this regard, he stated that the logistics and transportation sector is critical and must be enhanced.

By integrating South Asia and Central Asia, the SCO trade and economic bloc can unite EU and Eurasia markets for trade purposes.

He stated that sea channels must be opened for trade, and that a commercial agreement between Pakistan and Uzbekistan has been struck through the ports of Karachi and Gwadar.

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In this regard, he stated that a connection hub will be developed in Tirmuz, Uzbekistan, to connect Pakistan with Central Asian countries, as well as European and nautical markets.

He stated that in order to be commercially and economically connected to the markets of the Middle East and other ASEAN nations, SCO member countries must be connected to the Iranian ports of Chabahar and Bandar Abbas.

“To increase our bilateral and transit trade, we need a new economic dimension and paradigm shift,” he stated. New economic growth drivers, such as technology, information technology, and e-commerce, must also be implemented, he noted. He expressed optimism that regional trade and economic links will improve at the multilateral level.

In answer to a query, he stated that, in addition to bilateral agreements between Pakistan and Uzbekistan at the national level, boosting bilateral economic and trade links between provinces and large cities is currently being considered.

He stated that agreements had been struck between Pakistan’s Punjab province and Uzbekistan’s Namangan province. Similarly, agreements have been established to develop commercial cooperation with the Pakistani cities of Lahore and Peshawar, as well as the Uzbek cities of Samarkand and Surkhandarya.

Uzbekistan, according to Ambassador Usmanov, is devoted to economic integration, development, and regional prosperity, which will lead to regional unity and peace. He believes it will take a coordinated strategy and effort from SCO member countries.

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He stated that there will be 80 sessions at the SCO Summit, with the member countries focusing on tourism, technology, transportation, and industrial innovation.

As a result, Samarkand city will host 40 separate summit sessions, for which various sectors, hotels, and tourist attractions are being built for the comfort of the delegates visiting the city.

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