SCO members vow deeper cooperation under Belt and Road Initiative

2015-12-15 21:29

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Prime ministers of the Shanghai Cooperation Organization (SCO) member states vowed Tuesday to deepen regional economic cooperation within frameworks including the Belt and Road Initiative.

Cooperation will help SCO members improve partnership, increase investment, expand consumer markets and improve employment, guaranteeing development for all, according to a statement issued by the SCO after a meeting of prime ministers concluded in the central Chinese city of Zhengzhou.

Economic and trade cooperation will focus on infrastructure and investment in production capacity, said the statement.

Prime ministers reiterated their support to the Belt and Road Initiative, which they believe will help reinvigorate their economy and safeguard regional peace.

Prime ministers agreed to expand cooperation in developing high-speed railways and forming an international transportation corridor.

They considered establishing economic cooperation zones and increasing exchanges between enterprises to better use technology and increase employment opportunities.

They agreed to optimize trade structure, expand service trade and strengthen e-commerce cooperation.

They will also boost cooperation in medical care, education and energy. The statement stressed financial cooperation to improve project funding and guard against regional financial risk.

A joint communique signed by heads of government of the six SCO members was also released after the meeting.

According to the communique, the prime ministers vowed to strengthen cooperation in renewable energy and environmental protection in a bid to reduce energy consumption and curb greenhouse gas emissions.

They suggested the SCO expand cooperation with observers, dialogue partners and other international groups.

They approved the SCO 2016 budget and decided to convene the 2016 prime ministers' meeting in Kyrgyzstan.

The SCO currently has six member states: China, Russia, Kazakhstan, Tajikistan, Kyrgyzstan and Uzbekistan. Afghanistan, India, Iran, Mongolia and Pakistan are observers and Belarus, Turkey and Sri Lanka are dialogue partners in the organization.

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