UBG chief says SCO summit to boost trade, investment inflows

KARACHI: President United Business Group (UBG) Zubair Tufail, other leaders Khalid Tawab, Hanif Gohar, and Syed Mazhar Ali Nasir have expected the Shanghai Cooperation Organization (SCO) will boost trade and investment flows, foster cultural ties, enhance people-to-people exchanges, and deepen economic cooperation and connectivity projects including CPEC and BRI discussions.

Welcoming the upcoming SCO summit in Pakistan, hosting heads of state and high-level delegations from member states, they said that this prestigious event promotes regional cooperation, diplomacy, and economic ties among Eurasian nations.

The summit will bring together leaders from SCO’s eight member states and observer states, addressing regional security, economic cooperation, cultural exchanges, climate change, energy security, and counter-terrorism, they added.

The UBG leaders emphasized the significance of opening banking channels to facilitate trade and investment flows between member countries.

“Establishing banking channels will streamline transactions, reduce costs, and increase economic cooperation, benefiting businesses and communities alike.” Hosting the SCO Summit reaffirms Pakistan’s commitment to SCO’s goals and principles.

“This summit offers a unique opportunity for Pakistan to contribute to regional peace, stability, and shared prosperity,” they said.

Pakistan’s hosting demonstrates its growing role in regional diplomacy, strategic location, and importance as a bridge between South Asia, Central Asia, and the Middle East.

Copyright Business Recorder, 2024