China to carry out $10 billion loans for SCO member States

[Lankan Ranger]

China to carry out $10 billion loans for SCO member States

China will carry out the announced $10 billion of loans for Shanghai Cooperation Organization (SCO) member States and continue to send trade and investment delegations to other members, said Premier Wen Jiabao Wednesday.

Wen also raised a seven-point proposal to enhance regional cooperation at the eighth prime ministers' meeting of the SCO member States in Beijing.

First, to deepen financial and monetary cooperation. China will enhance the exchanges of financial and monetary policies and improve the trade settlement payment system to promote international monetary system reform, to enhance the diversification and rationalization of the international system and to jointly safeguard financial stability.

Second, to promote the security and facilitation of trade and investment. China will sign the Agreement on Encouragement and Reciprocal protection of Investments, and work out the Agreement on Facilitation of International Road Transport as soon as possible.

The government will formulate the Plan on Road Network Development Coordination and strengthen the management on port cooperation, as well as to solve the food security problems of the member States.

Third, to accelerate the implementation of large economic and technological cooperation projects. China will mainly carry out the construction of infrastructures including roads and railways, to explore new clean energies and develop new economic growth points. It will give full play to industrial councils and bank consortium to create better conditions for middle and small industries.

Fourth, to expand channels of cooperation. China will deepen the reform in agriculture cooperation, guarantee food security and establish a promoting system for boarder agricultural trades. It will enhance technological cooperation, transformation and modernization of traditional industries, the capacity of creativity and industrialization of scientific results.

Fifth, China will carry out the announced $10 billion of loans for Shanghai Cooperation Organization (SCO) member States and continue to send trade and investment delegations to other members, to fight trade and investment protectionism and motivate trades and development of the members.

Sixth, to promote cultural exchanges, and the cooperation on health, education, disaster relief and human resources. China will support the Shanghai Cooperation Organization (SCO) with funds to join in the 2010 Shanghai Expo.

Seventh, to deepen the cooperation on security. China will intensify the fight against the three forces and steadily support each other on sovereignty, security and development.

The SCO, established in 2001, comprises China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan. Mongolia, India, Pakistan and Iran are observers of the group.

The eighth prime ministers' meeting was chaired by Premier Wen and attended by his counterparts from Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan, as well as representatives from the SCO observer nations and Afghanistan.

China to carry out $10b loans for SCO member States

 

[TechLahore]

China to carry out $10 billion loans for SCO member States

China will carry out the announced $10 billion of loans for Shanghai Cooperation Organization (SCO) member States and continue to send trade and investment delegations to other members, said Premier Wen Jiabao Wednesday.

The SCO, established in 2001, comprises China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan. Mongolia, India, Pakistan and Iran are observers of the group.

Wow! Not counting Russia, that's $2.5B in assistance for every member country! This would be substantially larger than any other foreign power's assistance to these countries and would extend China's influence in a very significant fashion.

I know Pakistan's membership in the SCO is under consideration. I really hope that comes through. It will provide a very useful and strategic forum to us.

 

[navtrek]

Wow! Not counting Russia, that's $2.5B in assistance for every member country! This would be substantially larger than any other foreign power's assistance to these countries and would extend China's influence in a very significant fashion.

I know Pakistan's membership in the SCO is under consideration. I really hope that comes through. It will be provide a very useful and strategic forum to us.

Yup very true quite a lot of money being given.

 

[taiji]

Here it says Sri Lanka is to become SCO dialog partnership. Not sure what it means. SCO's membership accession standard is still unclear.

SCO appraises membership of Iran, Pakistan
SCO appraises membership of Iran, Pakistan
By Cheng Guangjin and Yang Xue (China Daily)

Shanghai Cooperation Organization (SCO) is assessing Iran and Pakistan's applications for membership and reviewing its criteria for membership, the new SCO Secretary-General Muratbek Sansyzbayevich Imanaliev told a press conference yesterday in Beijing.

In addition, procedures for Sri Lanka and Belarus to enter a dialogue partnership with the SCO are currently under review by SCO member countries for final approval, hopefully to be finalized at the Tashkent Summit this year, according to Imanaliev.

SCO has set up expert panels to establish principles and standards for incorporating new members. "One important principle is that the new member should be good for SCO's growth and unification, not the other way round," Imanaliev stressed.

"Enlarging membership is an important task for SCO at present and for a long time in the future. We will continue to enhance cooperation within the SCO framework," Imanaliev said.
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