India highlights 3 pillars of Security, Connectivity, Opportunity for global trade at SCO meet
New Delhi, Sep 18 (IANS) India highlighted the three pillars of ‘Security, Connectivity, and Opportunity’ for international trade at the 25th meeting of Ministers of the Shanghai Cooperation Organisation (SCO) Member States Responsible for Foreign Economic and Trade Activities held in Tajikistan’s Dushanbe, according to an official statement issued on Friday.
The meeting held on Thursday reviewed ongoing cooperation among SCO member states in the areas of economic and trade activities and exchanged views on measures to further deepen trade and economic cooperation within the SCO framework.
In his intervention on behalf of India, Additional Secretary, Commerce, Yashvir Singh underscored the significant economic potential of the SCO and the importance of translating this potential into tangible outcomes through increased intra-SCO trade, lower trade costs, resilient supply chains, and enhanced connectivity.
Referring to the vision articulated by Prime Minister Narendra Modi at the SCO Summit in Bishkek, India highlighted the three pillars of Security, Connectivity and Opportunity, underscoring their economic significance, particularly in strengthening supply-chain resilience, developing efficient and trusted connectivity, and expanding opportunities for businesses through greater market access.
India also emphasised the important role of trade facilitation and digitalisation in reducing the cost and time associated with trade. In this context, it stressed the need for simplified customs procedures, paperless trade and electronic exchange of documents, alongside stronger multimodal connectivity and reduced transit times.
It also called for greater cooperation among SCO Member States to diversify and strengthen supply chains in strategic and emerging sectors, including agriculture, critical minerals, pharmaceuticals, manufacturing, and electronics. The potential for enhanced cooperation in energy security, renewable energy, and green hydrogen was also emphasised.
Recognising the importance of enabling smaller businesses to participate more effectively in regional and global trade, India underscored the role of digital payments, cross-border payments and accessible trade finance, particularly for MSMEs and start-ups. It further called for greater participation of SCO economies in global value chains and reiterated its commitment to an open, inclusive and rules-based multilateral trading system, with the WTO at its core.
The ministers adopted the ‘Statement of the Ministers of the Shanghai Cooperation Organisation Member States Responsible for Foreign Economic and Foreign Trade Activity’.
The ministers also agreed on the ‘Action Plan for 2026–2030 for the Implementation of the Programme of Multilateral Trade and Economic Cooperation of the Shanghai Cooperation Organisation Member States’ for its further approval by the Council of Heads of Government of the SCO Member States.
Besides, the ministers approved the ‘Regulations on the Special Working Group of the Shanghai Cooperation Organisation Member States on the Development of the Creative Economy’.
The ministers took note of the information provided by the representative of the SCO Business Council regarding the activities of the Council. They also took note of the information provided by the Tajik side on the work of the SCO Consortium of Economic Analytical Centres.
The ministers also decided that the next ministerial meeting will be held in 2027 in Uzbekistan, the official statement added.
–IANS
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