Xinhua
30 Nov 2020, 22:00 GMT+10
NEW DELHI, Nov. 30 (Xinhua) -- The Shanghai Cooperation Organization (SCO) on Monday underscored the importance of further deepening cooperation to develop "a transparent, open, inclusive, fair, non-discriminatory multilateral trading system" and to "promote an open world economy."
"Today humanity is faced with unprecedented challenges in all spheres of life, the severity of which is steadily increasing due to the ongoing spread of coronavirus infection," said a joint communique issued after the 19th meeting of the Council of Heads of Governments of SCO member states.
"High turbulence persists in global politics and economy," said the communique, adding that the process of economic globalization "is hampered by the growth of unilateral and protectionist measures, instability of financial markets and other risks for the international trade."
The communique stressed that one of the primary tasks of the SCO is to improve the welfare and living standards of the population, and it is important to continue the consistent implementation of the Sustainable Development Goals until 2030 and to strengthen cooperation in various areas of mutual interest.
The announcement noted the relevance of reforming the World Trade Organization (WTO), including by improving its key functions-negotiation, monitoring and dispute resolution functions.
"When reforming the WTO, it is necessary to ensure that the key values and fundamental principles of the WTO are preserved," said the communique.
The 19th meeting of the Council of Heads of Governments of SCO member states, chaired by Indian Vice President M. Venkaiah Naidu, was held Monday in a videoconference format.
Get a daily dose of Breaking Property News news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Breaking Property News.
More InformationFRANKLIN, Tennessee: Hundreds of thousands of Nissan and Infiniti vehicles are being recalled across the United States due to a potential...
REDMOND, Washington: Microsoft is the latest tech giant to announce significant job cuts, as the financial strain of building next-generation...
LONDON UK - U.S. stock markets were closed on Friday for Independence Day. Global Forex Markets Wrap Up Friday with Greeback Comeback...
SANTA CLARA, California: Nvidia came within a whisker of making financial history on July 3, briefly surpassing Apple's all-time market...
SACRAMENTO, California: California's multibillion-dollar farms are facing a growing crisis—not from drought or pests, but from a sudden...
WASHINGTON, D.C.: President Donald Trump says the United States could soon reach a trade deal with India. He believes this deal would...
Mumbai (Maharashtra) [India], June 30 (ANI): The top 7 cities recorded around 1,89,570 units sold between January and June 2025 --...
NAIROBI, July 4 (Xinhua) -- Chinese contractors are helping advance Kenya's construction sector by transferring technologies, the industry...
BERLIN, July 1 (Xinhua) -- Germany's housing market showed strong signs of recovery in the first quarter of 2025, with residential...
SEOUL, June 30 (Xinhua) -- South Korea's industrial output fell for the second successive month due to negative effects of U.S. tariffs...
Former Minnesota Gov. Arne Carlson- Republicans have become radical
Burcum- Im haunted by the Minnesota shooters uncanny police impersonation