Commerce Secretary attends SCO Meeting of Trade & Economy Ministers virtually

Commerce Secretary, Shri Sunil Barthwal attended the 23^rd meeting of Ministers of Shanghai Cooperation Organization (SCO) responsible for foreign economic and foreign trade activities yesterday virtually. The Commerce Secretary, in his address, mentioned that since its inception as an SCO member in 2017, India has been actively contributing towards SCO developmental agenda. Moreover, India’s priorities in SCO are shaped by the vision of Prime Minister Shri Narendra Modi of a ‘SECURE’ SCO, where SECURE stands for Security, Economic Development, Connectivity, Unity, Respect for sovereignty and territorial integrity, and Environmental protection.

While underscoring the importance of SCO in the world economic order, he congratulated Pakistan for their Presidency of the Heads of Government of the SCO and welcomed the Republic of Belarus (new Member) on their joining the organisation.

Shri Barthwal emphasised that digitalisation holds the promise for rapid economic development and prosperity. It was reiterated that India had successfully created a strong digital public infrastructure platform for financial inclusion, education and improving overall governance in the country. The use of digital technology as ‘public goods’ has led to widespread benefit across the population irrespective of their position in the economic hierarchy which can be replicated in the area of green energy transition, which is a necessity to meet our net zero targets and in our common pursuit to reduce carbon footprints for sustainable growth.

Shri Barthwal focused on the importance of efficient logistics for international trade, in which, paperless trading is a critical step towards streamlining cross-border transactions. The Commerce Secretary emphasised on the need for strong connectivity to foster trade and economic development. However, while making such efforts to bolster connectivity projects, it is essential to build in trust as well as transparency in our co-operative efforts. In this context, Shri Barthwal made his intervention that it is of utmost importance that we uphold the principles of SCO Charter including respect for sovereignty and territorial integrity of the member states.

The Commerce Secretary recalled India’s active and constructive contribution to SCO through various events and meetings during its first ever Presidency for the SCO Heads of State last year.  It was also highlighted that any effort towards fair trade practices cannot be complete without collective effort of the Member States within the economies and more transparency to ensure wider economic outcome in the region. It is essential to ensure inclusive growth in the SCO region, for which the Member States should support each other for moving up the value chains in production of goods and services which directly impacts economic growth and citizen’s welfare.

It was highlighted that 21^st century is the century of technology and India is among a few countries to formulate national strategy on Artificial Intelligence and launch an AI Mission. He reiterated that India’s commitment to ‘AI for all’ in achieving responsible development for the larger good of our society could be realised by working closely together to make AI transparent, fair, secure, accessible and responsible.

During the meeting, the Ministers approved 3 documents covering different areas of cooperation viz., Framework for Cooperation of the SCO Member States in the sphere of Development of the Creative Economy, Concept of Cooperation between the Trade Promotion Organizations of the SCO Member States and the Concept for the creation of Economic Preferences Base of the SCO Member States and also adopted a statement on issues of fair trade and sustainable development.

While concluding his interventions, the Commerce Secretary reiterated India’s commitment to continue to constructively participate in the SCO activities and extend all possible support for successful outcome.

The 23^rd meeting of Ministers of SCO responsible for foreign economic and foreign trade activities was held under the chairmanship of Pakistan.