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SCO Summit Highlights Joint Efforts to Tackle Financial Crisis

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Leaders of the Shanghai Cooperation Organization (SCO) attended the annual summit to discuss the future development of the organization and measures against the global financial crisis, underlining their joint efforts to overcome difficulties.

The two-day summit reached broad consensus on deepening pragmatic cooperation in trade, economy and security, and expanding the group's exchanges with the rest of the world.

It sent a strong signal to the international community that SCO member states will work together in the face of the current challenges.

The economic crisis is continuing to spread its negative impacts around the globe. The international community has agreed that all countries should join hands to meet the challenges.

The current circumstances require SCO members to strengthen their cooperation to jointly combat the financial crisis and advance the sound and steady development of their economies.

At the summit, SCO leaders issued a joint declaration and signed several documents, which all showcased their willingness to boost pragmatic cooperation and work together to tackle the crisis.

The SCO has played an increasingly significant role in regional affairs since it was founded in 2001. In the past eight years, the group has promoted its international clout, promoted stable and sound development of its strategic coordination, and laid a solid foundation for mutual trust.

The group can boast of political mutual trust, effective cooperation, and commitment to the principle of mutual respect and mutual benefit. Such strengths have paved the way for its member states to enhance cooperation and jointly deal with the economic crisis and other challenges.

Although no country is immune to the financial crisis, the SC0's effective cooperation mechanism so far has not been undermined. Instead, its member states, which differ in economic development models, have shown the political will to enlarge cooperation.

In addition, the economic downturn has also been seen as a great opportunity for them to seek more channels and fields of cooperation.

The documents signed by the heads of state on measures for enhanced cooperation have mapped out a future direction and specific areas to promote trade and economic cooperation between the member states.

It is believed that along with the implementation of the deals signed at the Yekaterinburg summit, trade and economic cooperation within the SCO will reach a new high, which will give strong impetus to a peaceful self-development and a harmonious region.

Security cooperation, which has long been a priority of the SCO, also topped the group's agenda. Drug trafficking emanating from Afghanistan and cross-border organized crime have posed grave threats to the security of SCO member states.

The documents signed at the summit also include a convention against terrorism and agreements on training the anti-terrorist forces of SCO members.

They will have positive impact on regional stability and create a good environment for member countries to overcome the current economic difficulties.

The SCO has always committed itself to the Shanghai Spirit, which advocates mutual trust, mutual benefit, equality and coordination, respects cultural diversity and seeks common development with an aim to boost bilateral and multilateral cooperation within the organization.

The call for joint efforts to overcome difficulties is an extension of the Shanghai Spirit in the current international context. It is believed that the SCO will yield more fruitful results as the member states continue to reinforce their pragmatic cooperation.

(Xinhua News Agency June 17, 2009)