SCO can play greater role in meltdown recovery: India
New Delhi, Oct 14 (IANS) India Wednesday asked the Shanghai Cooperation Organisation (SCO) regional grouping to play a more active role in mitigating the current global financial crisis.
‘The need to revive the global economy is a complex challenge, requiring efforts from all of us. In such a scenario, the Shanghai Cooperation Organization can play an important role,’ Petroleum and Natural Gas Minister Murli Deora said while addressing the SCO Heads of Government Council meeting in Beijing. Deora is leading the Indian delegation.
He said that SCO could strengthen economic linkages in the areas of trade, business exchanges and investment, as well as adopt mutually reinforcing monetary and fiscal policies. He emphasized that as a result of policies adopted by the Indian government, the effect of the meltdown was marginal in this country.
Deora also asked the regional grouping to adopt a ‘policy of zero tolerance towards terrorism’.
‘We have sought a mutually beneficial association with the Regional Counter-Terrorism Structure based in Tashkent and are ready to complete the required formalities,’ he added.
India is an observer at the SCO that was set up in 2001 and whose members are China, Russia, Kazakhstan, Krygyzstan, Uzbekistan and Tajikistan. The other observers are Iran, Mongolia and Pakistan.
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