Iranian Ambassador Commends Pakistan For Hosting 'SCO Trade, Commerce Ministers' Meeting

ISLAMABAD, (UrduPoint / Pakistan Point News - 13th Sep, 2024) Iranian Ambassador to Pakistan, Reza Amiri Moghadam on Friday extended his heartfelt congratulations to the government of Pakistan for successfully hosting the 23rd Meeting of Ministers of Trade and Commerce of the Shanghai Cooperation Organization (SCO) member states.

He, in a statement, also expressed deep appreciation for the warm hospitality extended to the delegations.

The ambassador highlighted the significance of the SCO, describing it as the largest regional organization in terms of area and population, encompassing 80% of Eurasia’s landmass and 40% of the world’s population. He emphasized the organization’s economic weight, noting that it holds 20% of the world’s oil reserves, 44% of global gas reserves, and had a combined GDP of $24.2 trillion in 2023—representing one-quarter of global GDP.

“The SCO is a vital economic and commercial force on the global stage," Moghadam said, adding that the organization currently has 10 main members, two observer members, and 14 dialogue partners. He expressed optimism that more countries would join the SCO in the near future.

The Iranian envoy stressed the importance of activating the full potential of member countries through cooperation and collective synergy. Focusing on transportation infrastructure and trade corridors, he pointed out that these elements are key to fostering stronger cooperation among member states and beyond.

“We are aware that major powers are currently working to establish corridors that serve their own interests.

In this context, it is essential for SCO members to first complete the existing corridors and, in future phases, to work towards creating new ones," he remarked.

Moghadam identified the Belt and Road Initiative (BRI), the North-South Corridor, and the East-West Corridor as critical routes that can enhance connectivity and cooperation within the SCO and with the wider world.

He underscored Iran’s strategic position in connecting these corridors, citing the country's extensive coastline of 5,800 kilometers, which includes 890 kilometers in the north and 4,900 kilometers in the south. Important Iranian ports such as Chabahar, Bandar Abbas, Mahshahr, and Amirabad serve as vital hubs for transportation and logistics, playing a pivotal role in the organization, he added.

Moghadam also highlighted the potential of Iran’s railway network, which, with minimal investment, could play a crucial role in linking the North-South and East-West corridors, providing SCO members with enhanced access to global markets.

“Our country has introduced special incentives for investment in both coastal and northern areas to support the integration of the member states’ railway lines,” he noted, adding that Iran hopes to collaborate with other members to realize these capacities.

The ambassador concluded calling for a focus on completing transit lines, creating trade facilitation measures, and establishing financial, banking, and commercial institutions to foster economic growth and development among SCO member states.