SCO members, let's talk about economic ties
- Source: Global Times
- [02:16 October 15 2009]
- Comments
With the global financial crisis not yet over, fiscal, monetary and trade cooperation is particularly important. China committed to offering $10 billion in loans to SCO members.
The SCO issued a joint communiqué stressing that cooperation would sharpen the competitive edge of member countries and enhance its capability to manage risks.
The communiqué is a necessary step in outlining the future direction of the SCO, but more detailed work will be required to make the stated goals a reality.
Currently, the SCO member countries are economically disparate and ill suited to complementing one another. Among the organization's Central Asian members, only Kyrgyzstan belongs to the WTO.
Cooperation can start with small steps. For example, China will support funding so SCO countries can participate in the 2010 Shanghai Expo.
These small but symbolic steps are intended to bring SCO members closer. But sustained and tangible economic returns will be needed to continue advancing the SCO.
Regional stability depends on the dual advancement of security and the economy. While security concerns have been central to the development of the SCO, it is now time for economic and humanitarian cooperation to grow as well.
