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SCO Summit Islamabad: A Catalyst for Regional Cooperation, Strengthening of Economic Linkages

By
M Ashraf Siddiqui
14/10/2024
in

Islamabad, 14 Oct. 2024 (Various Media Reports)

The upcoming Shanghai Cooperation Organization (SCO) Summit, set to take place in Islamabad on October 15-16, is anticipated to serve as a key platform for fostering regional cooperation, bolstering trade and investment besides enhancing socio-economic-cultural linkages among its member states.
Prime Minister Shehbaz Sharif visited Jinnah Convention Centre on Saturday to review arrangements and he expressed his satisfaction over the preparations.
Over 1,100 traffic officers will be deployed across the city to monitor traffic and maintain public safety.

The prime minister was briefed by Capital Development Authority (CDA) Chairman Mohammad Ali Randhawa and officials of the Ministry of Foreign Affairs, the PM Office media wing said in a press release.

Pakistan had assumed the rotating chair of the SCO CHG for 2023-24 at the previous meeting held in Bishkek on October 26, 2023.

The leaders from the SCO member states attending the summit include China's Premier of the State Council Li Qiang; Prime Minister of Belarus Roman Golovchenko; Prime Minister of Kazakhstan Olzhas Bektenov; Russian Prime Minister Mikhail Mishustin; Tajik Prime Minister Kohir Rasulzoda; Uzbek Prime Minister Abdulla Aripov, Kyrgyzstan's Chairman of Ministers' Cabinet Zhaparov Akylbek, Iran's First Vice President Mohammad Reza Aref, and Indian External Affairs Minister Subrahmanyam Jaishankar.

Diplomatic and political experts maintained that this important meeting of the heads of governments of SCO’s member states will not only help work together to address the pressing regional issues but also significantly enhance Pakistan’s role on the global stage as a leader.

Emphasizing the strategic and diplomatic importance of the SCO summit at Islamabad, highlighted its key role in addressing security, economic and environmental challenges besides promoting regional stability since its establishment in 1996.

 As per former ambassador of Pakistan, Manzorul Haq commented, ' Certainly, the upcoming historic summit will allow all leaders for open discussions on a range of issues from combating terrorism to economic collaboration, climate change to poverty, unemployment and cultural linkages to exchange of delegations, reflecting the organization’s commitment to tackling the multifaceted challenges by supporting each other for shared prosperity', he reiterated.

The SCO, which includes member states accounting for approximately 40% of the global population, and 32% of the world’s GDP, presents Pakistan with an excellent opportunity to shape its economic and investment future.

Ambassador Manzoor said that the extraordinary SCO meeting at Islamabad could enhance prospects for trade and energy corridors, as well as leverage Pakistan’s abundant natural resources including mines and minerals, gas and hydel power potential for foreign investment.

 “This is an important moment for Pakistan to take advantage of its unique strategic position and safeguard its geostrategic interests and strengthen its economy by strongly advocating its principal stand at the SCO summit,” he added.

Prof. Dr. Ejaz Khan, a former chairman of the International Relations Department at the University of Peshawar, highlighted the summit’s potential to elevate Pakistan’s global image.

He said climate change, which affects many SCO member states, required a collaborative approach to address this key issue imperative for fostering economic stability, enhancing agriculture production and autarky in food services for the prosperity of billions of people.

He said SCO’s commitment to regional security is evident through its focus on military cooperation and joint exercises aimed at combating terrorism, human and drug trafficking and other organized crimes in the past.

He strongly believed that the summit would catalyze further collaboration in these specific areas besides reinforcing the organization’s security paradigm.
Prof. Dr. A.H. Hilali, former chairman of the Political Science Department at the University of Peshawar, echoed the sentiment that the summit offers more than mere dialogue. He said it presents a golden opportunity for all states to redefine the SCO’s role amid current geopolitical and security challenges faced by the region. “This is a golden chance for all member states to unite for mutual benefits, addressing issues like poverty and unemployment for the prosperity of its people,” he said.
The experts said that Pakistan’s significance in the region enhanced after CPEC, making Pakistan an ideal destination for investment. For Pakistan, fostering an environment of open dialogue and cooperation would be essential in addressing key challenges besides trade barriers and expressed the hope that Pakistan would effectively highlight its viewpoint on regional issues.

The experts said that the SCO summit represents a pivotal moment for regional diplomacy and deepening economic cooperation, with the potential to significantly impact not only Pakistan positively but also the regional countries. As discussions unfold at the national level about the importance of SCO, the experts emphasized that the historic summit would likely be on building a cohesive framework for collaboration that addresses both immediate concerns and long-term strategic goals of the member states for achieving goals of shared prosperity.

Regional Chairman and Vice President of FPCCI, Zaki Aijaz  highlighted the SCO's role as a key forum for fostering regional integration through increased trade, investment, and cultural exchange. "At this crucial moment, as Pakistan positions itself within this multilateral framework, it is imperative that we engage in constructive dialogue to capitalize on the opportunities presented by the SCO," he said. He pointed to the China-Pakistan Economic Corridor (CPEC) as a prime example of economic cooperation within the region, noting that Pakistan's borders with China and India are essential for trade routes, economic collaboration, and regional security.

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