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SCO members urge expansion of trade, economic cooperation, says declaration

According to the document, the global economy still faces many challenges limiting its sustainable and balanced growth

DUSHANBE, September 17. /TASS/. The Shanghai Cooperation Organization (SCO) member-states consider it necessary to create favorable conditions for the development of trade and investment activities, and expand cooperation in the trade and economic area, the SCO leaders said in the Dushanbe Declaration passed following the SCO summit on Friday.

"The member-states consider the expansion of cooperation in the trade and economic area, the creation of favorable conditions for trade and investment on the principles of equality, fair competitiveness, mutual respect and mutual benefit a prior task," the declaration said.

The global economy still faces many challenges limiting its sustainable and balanced growth, according to the document. "The risks related to the pandemic of the novel coronavirus infection, the rise of protectionism, including in the form of one-sided trade restrictions, negatively influence global economic prospects. The management of financial and economic risks, whose source are climate changes, depletion of resources, degradation of environment, as well as provision of resources for sustainable development, are becoming important," the declaration said.

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