Economic integration

The SCO will play a key role in global economic integration

Uzbekistan’s diplomat in Pakistan, Aybek Arif Usmanov, said on Sunday that member countries of the Shanghai Cooperation Organization (SCO) could assume a vital role in global and local currency and trade in the framework of the current situation.

The Shanghai Cooperation Organization (SCO) is among the significant nations with respect to geomonetary and international position, including created economies, which can play an important role in advancing global and local economies through this stage. hierarchical, said the ambassador of Uzbekistan in Pakistan. media here.

The monetary and monetary alliance of SCO nations can consolidate the trade sectors of the European Union and Eurasia for exchange intrigues by combining South Asia and Central Asia, he said. he declares.

The minister said that similarly, the global exchange can be connected by gaining market access in major trading districts like the Association of Southeast Asian Nations (ASEAN) and the Middle East. Orient through this important global exchange alliance, as it would be considered normal to accelerate in the field of exchange.

He said that Uzbekistan, as the seat of the 2022 SCO annual climax of the SCO Council of Heads of State, will rise on September 15-16 in Samarkand.

The Uzbek envoy said that Pakistan and Uzbekistan play a vital role in bringing trade and monetary exchange to the SCO party nations, which will usher in a new period of financial incorporation in all party nations.

He said innovation, data innovation and sustainable energy will be the highlights of the SCO’s climax this year, which will help reshape trade and financial relations among the party nations.

There will also be meetings on telemedicine at the Summit this year, which has prompted the presentation of many aspects in the clinical field after COVID-19, which could open new avenues for financial participation in States Parties, a- he declared.

He expressed that at the same time, state parties are likely to agree to agreements on environmentally friendly energy.

He said empowerment of women is an important issue that will be considered in country parties and a future system will be developed on this.

The minister said that the initiative of the SCO nations, including the Central Asian nations, is currently fully devoted to the monetary and foreign exchange combination of the party nations and the increase of reciprocal exchanges and financial exercises. .

Diplomat Usmanov said offices and road and rail links are essential in reciprocal exchanges and travel which will increase the monetary activities of SCO countries. He said the area of ​​coordinated operations and transport is of extreme importance and needs to be strengthened.

Exchange and monetary alliance of SCO nations can join EU and Eurasia markets for exchange plots by mixing South Asia and Central Asia

He said ocean yard should be open for trade and currently an economic alliance has been approved between Pakistan and Uzbekistan through the ports of Karachi and Gwadar.

He said that in this way, a network terminal would underpin the city of Tirmuz in Uzbekistan, which would link Pakistan with Central Asian nations, including Euroasain and European and maritime markets.

He said that SCO member countries should be associated with Iran’s ports of Chabahar and Bandar Abbas to be associated financially and financially with the trade sectors of the Middle East and other ASEAN countries.

“We really want another financial aspect and a change of perspective to build our reciprocal and travel exchange,” he said.

Besides, new drivers of monetary development including innovation, data innovation and internet trade should be supported, he added. He expressed that there are strengths for local exchanges and financial relations at the multilateral level to intensify.

Following an investigation, he indicated that beyond the arrangements between Pakistan and Uzbekistan at the public level, consideration is currently being given to improving reciprocal financial and trade relations between the territories and areas. important urban areas.

According to him, arrangements have been made between the Punjab region in Pakistan and the Namangan region in Uzbekistan.

In addition, agreements have been concluded with the Pakistani urban communities of Lahore and Peshawar and the Uzbek urban communities of Samarkand and Surkhandarya to increase financial participation.

Diplomat Usmanov said that Uzbekistan is focusing on monetary network, improvement and provincial success, which will bring about agreement and harmony in the district. This requires joint procedure and efforts by SCO member countries, he said.

He said the SCO Summit will feature 80 meetings in which the party nations will focus on the travel industry, innovation, transportation and modern progress.

Therefore, there will be 40 unique meetings of the culmination in the city of Samarkand for which different areas, accommodations and places of travel are being built for the accommodation of representatives coming to the city.