Shanghai Cooperation Organisation to set up new bank, admit Pakistan as member next year

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4 Nov 2016: The Shanghai Cooperation Organisation (SCO) will establish a new development bank to boost investment in the region, Xinhua said.

Chinese PM Li Keqiang told SCO Summit which PM Nawaz Sharif missed because of PTI protest in Islamabad that China was open to setting up a free trade zone among the group including Russia, Kyrgyzstan, Kazakhstan, Tajikistan and Uzbekistan.

The group approved a 38-point five-year plan to boost cooperation in finance, transportation and agriculture over the 2017-21 period.

India and Pakistan are set to join the group next year after signing an agreement earlier in June.

3 Nov: Pakistan and China agree to continue closer cooperation in all spheres of bilateral relations.

This was agreed during a meeting between Adviser on Foreign Affairs Sartaj Aziz and Chinese Foreign Minister Wang Yi met on the sidelines of 15th SCO Heads of Government Council meeting in Bishkek, Kyrgyzstan.

PM Sharif had cancelled his visit to Bishkek because of PTI’s planned protest and the announced lockdown of Islamabad.

28 Oct: PM Sharif cancels visit to Bishkek to attend SCO summit in Kyrgyz capital Bishkek on 2-3 November.

How will November fare for Nawaz Sharif? A backgrounder


Pakistan to become full member next year as SCO shifts focus from security to economy

23 Oct: PM Sharif is likely to represent Pakistan in the Shanghai Cooperation Organisation’s Heads of Government summit in Kyrgyz capital Bishkek on 2 November, a report in The News says.

Pakistan is in the process of completing the criteria for its full membership as instrument for verification is being completed for the process. The parliament has already ratified it.

The SCO summit will take place on 2-3 November in Bishkek.


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The SCO is viewed as the largest and most powerful global organisation after the United Nations.

The SCO’s six full members account for 60 percent of the land mass of Eurasia and its population is a quarter of the world. With observer states included, its affiliates account for about half of the world’s population.

Pakistan applied for the membership of SCO 10 years ago. Russia endorsed Pakistan’s bid in 2011. At the SCO Summit in 2014, China expressed support for Pakistan’s application for full membership.

Pakistan’s full membership was approved by the SCO in July 2015.

Pakistan signed a memorandum of obligations on 24 June 24 2016 at Tashkent to join the SCO as a full member.

Pakistan is expected to formally accede to the SCO organisation at the next meeting at Astana in Kazakhstan next year.

Pakistan has been enjoying the observer status in the six-member organisation.

The SCO, previously known as the Shanghai Pact, is a Eurasian political, economic and military organisation which was founded in 2001 in Shanghai by the leaders of China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan.


More about Pakistan economy

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Pakistan is the world’s fastest-growing Muslim economy: The Economist

Pakistan GDP set to grow by 5.3% by 2020: IMF

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VIDEO: Shanghai Cooperation Organisation eyes economic push. – CCTV

20 Oct: The first economic forum of the Shanghai Cooperation Organisation (SCO) kicked off in Beijing today. This is the first economic forum of the organisation since it was founded in 2001.

Officials say the meeting marks a new era of shifting the agency from security cooperation to economic joint efforts.  Topics include trade, investment and financing.

Participants discussed several landmark projects, including the free trade area between China and Russia, panda bonds, and energy production.

The forum also aims to promote participation in the China-sponsored belt and road initiative.

China’s world-reshaping $225B One Belt, One Road (OBOR)


23-24 June: The Uzbek capital city of Tashkent hosted the summit of leaders from the Shanghai Cooperation Organisation (SCO). This was an important event that could not only become a turning point in the regional configuration of forces but also affect the world order.

The SCO’s expansion to include India and Pakistan was the main issue on the Summit’s agenda.

After the ratification, India and Pakistan will become full members of the SCO next year.

Additionally, Iran may also join following the lifting of UN sanctions. – Eurasia Review


See also: When Chinese Leadership style meets Pakistani: Wali’s Talk PPt for China Mobile/ Zong strategy team

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Wali’s note to Ufa SCO/BRICS Summit story below

Since no state or private media accompanied Prime Minister Nawaz Sharif to BRICS/SCO summit in Ufa, Russia, where significant and far-reaching developments were about to happen, we are taking the liberty to reproduce parts of report from Xinhua, the Chinese state news agency.

It headlined: Chinese President Xi Jinping signalled: China-Pakistan Economic Corridor has entered the stage of implementation.

On 10 July at Ufa, the Shanghai Cooperation Organisation (SCO) decided to admit Pakistan as a full member.

List of Summits | Heads of Government | Shanghai Cooperation Organisation


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Chinese President Xi Jinping shakes hands with Pakistani Prime Minister Nawaz Sharif in Ufa, Russia.

11 July 2015, UFA, Russia: Chinese President Xi Jinping said that Beijing welcomes Pakistan’s upcoming entry into the Shanghai Cooperation Organization (SCO).

Xi made the remarks when meeting with Pakistani PM Sharif on the sidelines of the 15th SCO summit, which is set to start procedures for granting India and Pakistan full membership.

Pakistan and India are currently among the five observers of the SCO, which currently groups China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan.

Beijing attaches great importance to the relations with Pakistan and always regards the bilateral ties as a foreign policy priority, said the Chinese president.


Have you seen other CPEC stories on this blog?

China-Pakistan Economic Corridor: A timeline

16 CPEC projects in Balochistan, 8 in KPK: Chinese Embassy

Chinese Embassy shares progress on CPEC projects

40 CPEC projects in 4 photos & 60 seconds

CPEC gets 4-layer security as Gwadar to be weapon-free


On the China-Pakistan Economic Corridor (CPEC), Xi said the project is an important component of the Beijing-proposed Belt and Road Initiative (OBOR), and relates to the two countries’ long-term development.

Xi added that since he paid a state visit to Pakistan in April, a batch of projects have been officially launched, signaling that the economic corridor has entered the phase of implementation.

For his part, PM Sharif thanked China and said Pakistan supports China’s OBOR, as well as the Asian Infrastructure Investment Bank (AIIB) and the Silk Road Fund, and will vigorously participate in relevant cooperation.

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Chinese President Xi Jinping meets with PM Sharif in Ufa, Russia.


12 July 2015: China enables both the BRICS and SCO to embrace fresh opportunities for their future development, Chinese Foreign Minister Wang Yi said following the conclusion of two international gatherings in the Russian city of Ufa.

The two summits, namely the 7th BRICS (Brazil, Russia, India, China, South Africa) summit and 15th Shanghai Cooperation Organization (SCO) summit, highlight China’s constructive role and further enhance China’s strategic mutual trust with relevant countries, Wang said.

Both as multilateral frameworks featuring emerging economies and developing countries, the BRICS and SCO are important platforms for cooperation among today’s emerging powers, he said.

At the summit, leaders of the member states approved the SCO Development Strategy until 2025, which sets detailed targets and tasks for the bloc’s development in the next 10 years.

The SCO nations also ratified a resolution on starting the procedures of granting India and Pakistan full membership of the organization and elevated Belarus to the status of observer from dialogue partner, and took in Azerbaijan, Armenia, Cambodia and Nepal as new dialogue partners. – Xinhua


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Shanghai Cooperation Organisation’s Heads of Government summit in Kyrgyz capital Bishkek on 2-3 November with Chinese PM Li.

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