Another highlight of Mr. Modi’s visit was India’s inclusion as the full member of the SCO at the Ufa summit of the organisation.
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The BRICS grouping is a more recent invention, but the SCO emerged in 2001 as successor to the so-called Shanghai Five, which comprised Russian Federation, Kazakhstan, Kyrgyzstan, Tajikistan and China.
A statement from the PM House said Pakistan will now have to fulfil certain statutory and legal requirements before the country formally becomes a full member.
The Prime Minister said the membership also advances the shared vision to reconnect and integrate Eurasia’s different region. “We have everything we need to succeed”. India, Pakistan, Iran, Afghanistan and Mongolia are at present observers – a status that allows them to participate in meetings but without full voting rights.
The SCO, which also includes ex- Soviet republics in Central Asia, has been viewed as a de facto counterweight to major Western alliances such as the North Atlantic Treaty Organization (NATO).
The prime minister said that the SCO countries must work together to mitigate differences, resolve outstanding disputes and create a favourable environment for the betterment of their peoples. China has steered the organization toward an economic grouping while Russian Federation has emphasized the organization’s political role and pushed for greater security cooperation.
While India continues to nurse serious reservations over the China-Pakistan Economic Corridor, Sharif? said the corridor was going to be useful for the prosperity of the region.
“We will work with SCO to combat terrorism and extremism that is a rising threat to the entire region”. A separate meeting between Sharif and Modi led to plans for Modi to visit Pakistan next year.
India has been an actively participating in SCO activities that are open to Observers. SCO now has four nuclear powered nations with India and Pakistan joining its benches along with China and Russian Federation.
Members should promote the development of the bank’s headquarters and a regional center in Africa, said Xi, who urged more countries to support the bank.
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Analysts told Shanghai Daily, that with its expansion the SCO will provide a platform for broader economic and security cooperation within the Eurasian region.
