photo: REUTERSBusiness leaders have called for the establishment of a dedicated investment and trade development bank within the Shanghai Cooperation Organisation (SCO), aimed at facilitating transactions in local currencies. The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the Golden Ring Economic Forum (GREF) at FPCCI Regional Office Lahore organised a roundtable Conference on "SCO and Pakistan's Economic Interests," according to a press statement released on Monday. The FPCCI vice president said that the SCO member states are rich in natural resources, have large labour forces, and play crucial roles in regional trade, energy supply, and geopolitical stability. Sheikh, the FPCCI President, stressed the importance of regional cooperation in the evolving global economic landscape. Other proposals included the creation of an SCO Energy Council, an SCO Environment Agency, and an SCO Education Framework to promote degree equivalence and shared curricula across member countries.

Source: The Express Tribune October 15, 2024 10:41 UTC