LAHORE: Pakistan’s full accession to Shanghai Cooperation Organisation (SCO) will benefit Pakistan in many ways besides paving way for investment in this land of opportunities.
In a statement, the Chairman Punjab Board of Investment and Trade (PBIT) Abdul Basit said that Pakistan permanent status at SCO will ensure regional stability and further economic integration to realise the common goal of progress and prosperity. It would also help mitigate differences, resolve outstanding disputes and create a favourable environment for the betterment of almost half of the world population.
Abdul Basit, who is on a visit to Australia, said that such positive developments would not only give new strength to Pakistan’s economy but would also help improve its perception. He said that China-Pakistan Economic Corridor was undoubtedly a great achievement of the present government that also proved catalyst to the achievement. Abdul Basit said that Pakistan’s accession to SCO is a significant shift that would definitely increase Pakistan’s engagement with the world that is a very positive sign.
The PBIT Chairman also expressed the optimism that the new status for Pakistan would also help weed out terrorism and extremism from the region that are the biggest impediments to the investment. He said that the when Pakistan and India would be sitting of the same table at this prestigious forum of the world, it would also help both the countries to sort out their differences.
It would also help resolve Pakistan’s energy woes as getting a permanent seat at SCO means closer ties between Pakistan and Russia at a time when the latter is viewing the CPEC development as to its own advantage as well for the export of energy resources, among other things.
The Chairman PBIT said that the data and research sharing among the SCO countries would not only bring down the graph of unemployment but it would also save Pakistan from many other such threats. It is pertinent to mention here that Russian President Vladimir Putin on Friday last announced that Pakistan and India will join the Shanghai Cooperation Organisation (SCO) as permanent members, a group dominated by Russia and China which also includes former Soviet republics in Central Asia. Russia sees the organisation, expanding for the first time since its creation in 2001, as a counterweight to Western alliances.
“It is obvious that together we can more effectively resist crisis events in the world economy and finance, more easily overcome restrictions and barriers of various kinds,” Putin said while talking about plans to deepen economic and trade ties.
