Pakistan, SCO slam western tariffs

October 17, 2024 (MLN): Pakistan and the Shanghai Cooperation Organization (SCO) have jointly condemned rising protectionist trade measures by the U.S., Canada, and the EU, specifically targeting Chinese goods like electric vehicles, aluminum, and steel.

During the SCO summit in Islamabad, the 10-member bloc, which includes China, Russia, and Iran, called the tariffs a violation of WTO rules.

The group also criticized unilateral sanctions against Russia and Iran, which have disrupted trade despite their vast energy resources, as smaller countries shy away, while China and India continue energy purchases.

Pakistan, though energy-starved, has avoided importing fuel from neighboring Iran, fearing U.S. sanctions, stalling a critical gas pipeline project.

Prime Minister Shehbaz Sharif, as chair, urged expanding China’s Belt and Road Initiative (BRI), particularly in infrastructure and connectivity, with the China-Pakistan Economic Corridor (CPEC) playing a key role.

Meanwhile, Western nations are pushing their $600 billion rival infrastructure plan.

The SCO’s joint statement also emphasized the importance of multilateral cooperation to tackle global challenges, urging member states to strengthen economic ties and reduce reliance on Western-dominated financial systems.

This came as geopolitical tensions rise, with the SCO positioning itself as a counterbalance to Western influence in global trade and politics.

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