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Last updated: 15 Jan, 2020  

Handshake.9.Thmb.jpg 'Develop IT, e-commerce among SCO member countries'

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SME Times News Bureau | 15 Jan, 2020

Shanghai Cooperation Organisation (SCO) Secretary General Vladimir Norov on Monday said that the member countries of SCO should cooperate in developing e-commerce in the region as it is rapidly growing and changing the structure of world economy.

Speaking at an industry interaction, 'Enhancing Indian Industry's Engagement with SCO' organised by FICCI, Norov said, "The time has come for purposeful and active action for development of e-commerce in our countries."

"Given that India is one of the driving forces behind the development of digitalisation and electronic commerce, we believe it is important that India actively participates in promoting e-commerce among the SCO countries," he said.

Norov said that e-commerce provides opportunities for companies to expand their markets, scale up their businesses, reduce transaction cost through economies of scale and more efficient use of capital, as well as to create new jobs.

Further, he said that globalisation process despite the rise of some restrictive trade practices has opened up great opportunities for the growth of developing countries and SCO can play a key role in facilitating and boosting international trade.

"India's accession to SCO as a full-fledged member has opened up new opportunities for further development and deepening of full-scale cooperation. This will be beneficial to India and other SCO members states," he added.

Vikas Swarup, Secretary West, Ministry of External Affairs, Government of India, said that the SCO has emerged as a key regional organisation in the Eurasian space in the past two decades accounting for 40 per cent of the world?s population.

Identifying areas of potential cooperation in the region as pharmaceutical, health, hospitality, renewable energy, education, culture, infrastructure, energy and disaster management, Swarup said, "India has emerged as an attractive destination for medical tourism."

Shiv Vikram Khemka, Chair, National Chapter of India at SCO Business Council, talked about increasing cultural connectivity among the SCO nations by engaging the youth of the member countries in areas like art, literature, music and movies. He also said that economic collaboration is the foundation of regional collaboration.

FICCI President Sangita Reddy said that SCO is one of the most significant collaborations for India and that India?s full membership to SCO will provide immense economic opportunities for India and other member countries.

"India is one of the largest consumer markets in the world with a rising middle class population and a sizeable young workforce," she added.

She also highlighted India’s progress in healthcare sector where quality medical treatment is available at one-tenth of global prices.

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