Putin welcomes India, Pakistan to SCO trade bloc
Russian President Vladimir Putin has officially announced the accession of India and Pakistan to the Shanghai Cooperation Organization (SCO).
In a key briefing after the summit of SCO leaders in the Russian city of Ufa, Putin announced Friday that India and Pakistan will join the SCO, a first time expansion of the heavy-weight Eurasian group since its inception in 2001.
The SCO, which also includes former Soviet republics in Central Asia, has been viewed as a de facto counterweight to major Western alliances such as the North Atlantic Treaty Organization (NATO). Those seeking membership in the body also want to enjoy the economic benefits, with India now having a better access to the energy resources of Central Asia.
Putin also announced that Belarus would obtain observer status in the SCO, joining Afghanistan, Iran and Mongolia. He said the body welcomes applications by Azerbaijan, Armenia, Cambodia and Nepal, which are considered “dialogue partners.”
The Russian leader further touched upon the major results of the SCO summit, including an agreement between the heads of state on more cooperation on the problem of drug trafficking in Afghanistan, a country which Putin said is seeing a rising influence of the ISIL terrorist group.
He said plans for deepening economic and trade ties between the members are also high on agenda.
“It is obvious that together we can more effectively resist crisis events in the world economy and finance, more easily overcome restrictions and barriers of various kinds,” Putin said, adding “We think the development of cooperation in production of food, transport, energy and financial security is important.”
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