The six-nation Shanghai Cooperation Organization, initially set up as a political alliance, took a step toward economic integration
Published:
26 October 2003 y., Sunday
The six-nation Shanghai Cooperation Organization, initially set up as a political alliance, took a step toward economic integration Tuesday with China proposing the creation of a central Asian free trade zone.
The alliance, formed in Shanghai in 1996 and upgraded in 2001 to battle terrorism in the wake of the Sep. 11 attacks in the U.S., includes China, Russia and four central Asian nations - Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan.
China's Premier Wen Jiabao proposed the creation of a free-trade zone as a long-term objective during talks Tuesday with his five counterparts, the official Xinhua News Agency reported.
In the lead-up to the creation of such a zone, Wen said the Shanghai Cooperation Organization should work together to streamline cross-border trade between the six nations by reducing red tape and non-tariff barriers.
Wen also proposed greater cooperation between the six nations on major development projects, including transportation, energy and telecommunications.
He urged the six nations to improve technical cooperation in industries such as agriculture, home appliances, light industry and textiles, the Xinhua report said.
Russian Prime Minister Mikhail Kasyanov said the six documents signed during Tuesday's meeting marked the organization's shift from a political to an economic phase.
"Our organization's initial phase has essentially come to an end," Kasyanov told reporters.
Šaltinis:
Dow Jones
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The European Parliament's proposal for its own operational budget for 2011 includes the financing of measures in preparation for enlargement with Croatia.
more »
Links between business and the academic world need to be strengthened but higher education institutions must retain their autonomy and public support, says a resolution adopted on Thursday by the European Parliament.
more »
The Spanish Minister of Economy and Finance, Elena Salgado, will present the additional fiscal tightening measures set out by the Spanish Government to her eurozone (Eurogroup) counterparts on Monday; the measures were required by Spain’s European partners as a condition of approving the plan to bolster the euro on 9 May.
more »
The European Commission has opened an in-depth investigation under EU State aid rules into capital injections destined to two subsidiaries of state owned company Elan Skupina in Slovenia.
more »
GDP growth in the EU expected to gradually pick up, though recovery less robust than past upturns.
more »
The EESC tabled its opinion on the regulation of alternative investment funds, such as hedge funds and private funds. Although endorsing the much debated proposal of the European Commission, the EESC calls for uniform risk data provision for all such funds and emphasizes their responsibility in triggering the crisis.
more »
Concluding the process and deciding on the schedule for releasing the funds agreed on for Greece, as well as examining and learning lessons from the crisis for the governance of the eurozone, will be the focus of the discussions of the heads of state and government at the meeting in Brussels this Friday.
more »
The EU pavilion at the world expo in Shanghai marks the first time the EU has presented itself to a large Chinese audience.
more »
Shanghai's World Expo offers visitors plenty of fun offering bizarre things to do at over 200 pavillions competing for attention.
more »
The European Investment Bank (EIB) is providing a loan of EUR 150 million to MVM Zrt. for the capacity increase and the extension of a high-voltage transmission network, partly constituting priority axes of the Trans-European Energy Network (TEN-E) in Hungary.
more »