SCO premiers to share vision on world's economy

Updated: 2011-11-02 08:30

By Qin Jize (China Daily)

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BEIJING - Premier Wen Jiabao and his counterparts from fellow member states of the Shanghai Cooperation Organization (SCO) will set out their joint vision on the state of the global economy when they meet next week, a senior diplomat said on Tuesday.

"The prime ministers of the six member countries will issue a statement on the world financial crisis, map out the direction of future work, discuss greater economic integration and improve institution construction," Vice-Foreign Minister Cheng Guoping said at a news conference.

Cheng said the 10th meeting of prime ministers of the SCO member states, to be held in the Russian city of St. Petersburg on Nov 7, would contribute to regional development, stability and prosperity.

The organization, which groups China, Russia and the Central Asian countries of Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan, was formed in 2001 and has grown into a regional bloc aimed at promoting cooperation in various fields.

Though Cheng did not mention any specific proposals Wen would make during the meeting, he noted that China expects more renminbi settlements in trade with member countries.

He said Wen will discuss the enhancement of the renminbi trade settlement in the SCO framework with his counterparts as the move requires consensus from the leaders of all SCO member states.

Leaders and representatives from SCO observer countries and Russia's guests, including India, Pakistan, Iran, Mongolia and Afghanistan, will also take part in the annual meeting.

During his two-day stay in St. Petersburg, Wen is also scheduled to hold a series of bilateral meetings, including one with Russian Prime Minister Vladimir Putin.

Cheng said the two leaders will discuss energy cooperation as talks on a huge gas export deal are progressing well.

He said the relevant companies from both sides are currently holding working-level discussions on the important consensus reached on the gas deal during Putin's recent Beijing visit.

In another development, Cheng and Russian Deputy Foreign Minister Alexei Borodavkin held talks on the SCO in Moscow on Monday.

The two sides acknowledged the growing importance of the SCO, and agreed to make further efforts to promote regional security, stability and prosperity.

China Daily

(China Daily 11/02/2011 page11)