SCO leaders pledge economic cooperation

SOCHI, Russia, Dec. 1 (Xinhua) -- Government leaders of the Shanghai Cooperation Organization (SCO) countries pledged to enhance cooperation to battle economic challenges here on Friday.

A joint communique was approved at the 16th meeting of the Council of the SCO Heads of Government (Prime Ministers), which was held in Sochi from Thursday to Friday.

The meeting was the first of its kind after a membership expansion in June to include India and Pakistan. The SCO now has China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Uzbekistan, India and Pakistan as its full members.

According to the communique, the leaders promised to actively carry out the agreement reached during the 17th meeting of the Council of Heads of State of the SCO, which was held in June in Astana, capital of Kazakhstan.

They also expressed support for China's rotating presidency for 2017 to 2018. The communique called on the member countries to actively tap new potentials from the accession of India and Pakistan into the organization.

The leaders pointed out that the world economic prospects could face adverse impact imposed by global terrorism, regional conflicts and natural disasters. In order to attain robust, sustainable, balanced and inclusive growth, it is important to carry out equality-based cooperation, the communique said.

The SCO members need to take coordinated actions and improve international monetary and financial system, under the background of unstable financial and raw materials markets, fluctuating foreign exchange rates and rising protectionism, according to the communique.

The leaders advocated cooperation in the fields of trade, industrial capacity, energy, transportation, railway, investment, finance, agriculture, customs and telecommunications.

They pledged support for technological innovation and are ready to exchange experiences in making national economic plans, promoting economic growth and facilitating commerce. Enditem