The 10-state regional group said it considers “it important to continue joint efforts to counter protectionist trade measures contrary to WTO rules.”
THE 23rd summit of the Council of Heads of Government of the Shanghai Cooperation Organization (SCO) condemned protectionist trade measures that were part of an increasingly heightened standoff between Beijing and Western powers over tariffs imposed on Chinese products.
In its joint communique, the 10-state regional bloc hit out at “unilateral sanctions” as member states Iran and Russia faced curbs on trade.
The criticism came after the heads of government meeting of the SCO in Islamabad on a joint statement signed by 10 member countries, including China, India, Russia, Iran, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, Belarus and host Pakistan.
The grouping also reaffirmed commitment toward peaceful settlement of differences and disputes between the countries with dialogue and consultations.
The statement remarked that the member states promote “respect for the rights of peoples to independently and democratically choose their political, social and economic development, stressing that the principles of mutual respect for sovereignty, independence and territorial integrity of States, equality, mutual benefit, non-interference in internal affairs, non-use of force or threat of use of force are the basis for the sustainable development of international relations.”.
On Monday, the China-led 10-state regional group said it “considers it important to continue joint efforts to counter protectionist trade measures that are contrary to WTO rules.”
The United States and Canada have increased tariffs on Chinese products such as electric vehicles, aluminum, and steel, and the European Union is set to follow suit. Beijing has termed the moves discriminatory and responded similarly as the standoff intensifies.
The SCO also noted that the “unilateral application of sanctions” contradicts international law and has a “negative impact on third countries and international economic relations.”
Russia and Iran are also faced with Western sanctions. Both are blessed with some of the biggest energy resources in the world. Sanctions have forced smaller nations to stop trading with them;
However, bigger economies like China and India still purchase energy from them. Still, energy-thirsty Pakistan does not import fuel from its very neighbor Iran despite its cost-effectiveness only because Islamabad dreads US sanctions.
