PremiumPatel said that trust and transparency determine the sustainability of global trade and preserve the fundamental principles and objectives of the multilateral trading system
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New Delhi: Constructive co-operation coupled with trust and transparency is the key to tapping the trade potential of SCO member states, said Anupriya Patel, Minister of state for Commerce and Industry on Thursday.
Making an intervention at the 21st meeting of Shanghai Cooperation Organization (SCO) Ministers responsible for Foreign Economy and Foreign Trade, the minister mentioned the opportunities available in the SCO region for mutually beneficial, balanced and equitable gains for all SCO members. “Collective effort is important to achieve balanced and equitable economic growth by way of making trade as an engine of reviving growth and driver of economic recovery."
Patel said that trust and transparency determine the sustainability of global trade and preserve the fundamental principles and objectives of the multilateral trading system.
“There is a need to work towards enhancing affordable access to medicines, therapeutics, vaccines as well as health care at affordable prices for fighting any pandemic, such as Covid-19 to preserve the life, livelihood, food and nutritional security of the poorest," she added.
The minister said that the best practices on technological development, optimum utilization of resources, conservation of environment, and sustainable distribution of resources need to be shared. “The climate agenda at world forum should not be used to introduce measures restricting trade and investment cooperation."
She added that there is a significant gap in digital technologies between developed and developing countries which should be narrowed down by building digital capacities.
Lauding the recent initiative of SCO where city of Varanasi has been nominated as the first-ever SCO Tourism and Cultural Capital for 2022-23, she said that this will help promote tourism and people-to-people interaction. It will boost trade and economic cooperation.
“SCO members must prepare, act and pursue an agenda that is equitable, inclusive and development oriented," she concluded.
The virtual meeting was attended by the representative of SCO Secretariat and heads of delegations of China, Kazakhstan, Kyrgyzstan, Pakistan, Russia, Tajikistan and Uzbekistan.