Xi Jinping announces support for Armenia's accession to SCO
YEREVAN, September 1. /ARКА/. During the SCO summit held in Tianjin, Chinese President Xi Jinping emphasized that the SCO will evolve both intensively and extensively, as reported by CGTN.
He highlighted China's support for the inclusion of Azerbaijan and Armenia as permanent members of the SCO. At present, these nations hold the status of dialogue partners within the Shanghai Cooperation Organization.
According to him, China is committed to furthering the development of the Shanghai Cooperation Organization, including financial support. This year, China plans to allocate grants totaling 2 billion yuan to SCO member states. Over the next three years, China will extend new loans amounting to 10 billion yuan to members of the SCO interbank association. Additionally, starting next year, China will double the quotas for special SCO scholarships to enhance youth exchanges and foster scientific and technical collaboration.
The Chinese President remarked that the SCO has already emerged as the largest regional organization globally, boasting a combined economy of $30 trillion and engaging in cooperation across more than 50 sectors.
"Simultaneously, given the increasing unpredictability of the international landscape, along with rising instability and uncertainty factors, the SCO carries an even greater responsibility for upholding peace and development in the region," Xi expressed with confidence.
He proposed advancing the organization based on principles of unity while respecting differences, mutual benefit, simplification of trade and investment processes, equality and fairness, practicality, and efficiency. He urged for the prompt establishment of the SCO Universal Center for Countering Security Threats and the creation of the SCO Development Bank.
Previously, in a joint statement issued by Armenia and China regarding the formation of a strategic partnership, following the meeting between RA Prime Minister Nikol Pashinyan and Chinese President Xi Jinping in Tianjin, it was indicated that the two nations had reached an agreement to enhance cooperation within the Shanghai Cooperation.-0-
