Pakistan-SCO Economic Cooperation: Aurangzeb Pledge
- Pakistan's Finance Minister Muhammad Aurangzeb has declared the nation's firm dedication to the Shanghai Cooperation Organisation's (SCO) economic cooperation agenda.
- Aurangzeb stressed that the SCO provides a crucial platform for regional cooperation, strengthening economic ties, and pursuing shared prosperity.
- Pakistan strongly supports the establishment of the SCO Development Bank,viewing it as vital for infrastructure financing and regional economic integration.
Pakistan, under Finance Minister Muhammad Aurangzeb, decisively recommits to the Shanghai Cooperation Organisation’s (SCO) economic agenda, highlighting the importance of regional collaboration.Aurangzeb,speaking at the SCO Finance Ministers and Central Bank Governors meeting,championed stronger ties in trade,investment,and financial integration within the SCO framework. Pakistan actively supports establishing the SCO Development Bank, prioritizing digital finance, fintech innovation, and green financing tools to fuel regional economic growth. The nation’s commitment stems from ongoing economic reforms, which have considerably stabilized the economy, boosting investor confidence and showcasing progress in financial inclusion through initiatives like Roshan Digital Accounts. Embracing the digital economy and green financing, Pakistan is positioned to be even more integrated, as noted by News Directory 3. What are the next steps, and how will Pakistan’s leadership reshape the economic landscape? Discover what’s next …
pakistan Reaffirms Commitment to SCO Economic Cooperation Agenda
Pakistan’s Finance Minister Muhammad Aurangzeb has declared the nation’s firm dedication to the Shanghai Cooperation Organisation’s (SCO) economic cooperation agenda. Aurangzeb addressed the SCO Finance Ministers and Central Bank Governors meeting in Beijing via video link, citing the ongoing budget session as the reason for his absence.
Aurangzeb stressed that the SCO provides a crucial platform for regional cooperation, strengthening economic ties, and pursuing shared prosperity. He advocated for increased collaboration within the SCO framework, specifically in trade, investment, and financial integration. Joint ventures, technology transfer, and capacity-building programs were among the initiatives he proposed to benefit all member states.
Pakistan strongly supports the establishment of the SCO Development Bank,viewing it as vital for infrastructure financing and regional economic integration. Aurangzeb saeid the bank should incorporate digital finance, fintech innovation, and green financing tools. He welcomed the SCO Network of Financial Think Tanks, emphasizing its role in fostering evidence-based research and policy coordination.
Aurangzeb highlighted Pakistan’s economic reforms, wich have led to macroeconomic stability and sustainable growth. He pointed to improvements in fiscal discipline, key economic indicators, and investor confidence. He also noted the importance of Pakistan’s digital financial initiatives,such as Roshan Digital Accounts,in promoting financial inclusion.
The finance minister acknowledged the challenges facing the global economy, including slow growth and climate change. He urged SCO members to work together to address these issues and ensure equitable sustainable development.
China’s Minister of Finance and the Governor of the People’s Bank of China recognized Pakistan’s economic progress, commending the government for stabilizing the economy and advancing reforms.
The SCO, established in 2001, includes china, Russia, Belarus, Kyrgyzstan, Kazakhstan, Uzbekistan, Pakistan, India, and Iran.
What’s next
Pakistan aims to continue its active role in SCO,focusing on digital economy,green financing,and infrastructure development to foster regional economic growth and stability.