SCO summit to pave way for regional growth, stability: Musadik Malik

October 16, 2024 (MLN): The 23rd Council of Heads of Government (CHG) of the Shanghai Cooperation Organization (SCO) summit has a potential to elevate Pakistan's economic development and stability, Minister for Petroleum Musadik Malik expressed on Wednesday.

In an exclusive interview with APP, Malik stressed the importance of regional cooperation, drawing parallels between successful international bodies such as the European Union and the Gulf Cooperation Council (GCC).

Malik highlighted the significant economic potential of the nations participating in the summit, representing 44% of the world’s population and contributing nearly 30% to global GDP.

He believes that by enhancing trade and cultural ties, these nations can unlock new opportunities for growth.

“There is a tremendous opportunity for these countries to evolve strategies through dialogue. Together, we can enhance economic activity, create new businesses, and ultimately provide more jobs for the youth,” Malik said, outlining one of the summit’s key objectives.

The minister also encouraged major players, particularly China, to bring innovative proposals to the table that could integrate into global value chains, further boosting the region’s economic potential.

Regarding the participation of India’s Minister of External Affairs, S. Jaishankar, Malik welcomed India’s involvement as an SCO member, reaffirming Pakistan’s commitment to constructive engagement within the forum.

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