Shanghai Cooperation Organisation (SCO) Summit Highlights
The recent SCO summit concluded with notable agreements and discussions among member states, focusing on economic development, regional security, and counterterrorism efforts.
Key Agreements and Statements
- Establishment of a New Development Bank:
Member states endorsed a Chinese proposal to set up a new development bank to enhance economic cooperation and growth. - Opposition to Unilateral Coercive Measures:
The joint declaration emphasized opposition to unilateral measures, likely aimed at discouraging actions similar to those by the US. - Trade Facilitation:
Commitment to improving trade relations within the SCO was reiterated.
Addresses by Leaders
- Chinese President Xi Jinping:
Called for opposition to "bullying practices" and highlighted the growing influence of the SCO as a major regional organization. - Indian Prime Minister Narendra Modi:
Stressed the SCO’s role in promoting multilateralism and called for greater action in security, connectivity, and opportunities.
India's Stance
- Non-Endorsement of China's BRI:
India refused to support the Belt and Road Initiative due to sovereignty concerns, particularly regarding projects passing through Pakistan-occupied-Kashmir (PoK). - Response to Terrorism:
The group condemned the Pahalgam terror attack, aligning with India's stance against terrorism and the need for accountability of supporting nations.
Security and Connectivity
- Strategic Initiatives:
Modi emphasized support for projects like the Chabahar port and the International North-South Transport Corridor. - Principles of Sovereignty:
Connectivity efforts should respect the sovereignty and territorial integrity of all nations.
Significance of the SCO
The summit underscored the SCO's evolution from a focus on terrorism, separatism, and extremism to a broader platform for discussing regional and international issues, reflecting Beijing’s increasing global influence.
