In a statement today, Mian Zahid Hussain, President of the Pakistan Businessmen and Intellectuals Forum (PBIF) and All Karachi Industrial Alliance (AKIA), and Chairman of the National Business Group Pakistan (NBG), commented on the significant outcomes of the recent Shanghai Cooperation Organisation (SCO) Summit in Tianjin, China.
“The 25th SCO Summit marks a pivotal moment in global and regional affairs, reinforcing the trend toward a multipolar world order,” said Mian Zahid Hussain.
“Economically, the establishment of the SCO Development Bank and the emphasis on non-dollar trade settlements signal a collective effort to build a financial architecture independent of Western influence. Politically, the Tianjin Declaration underscored the members’ commitment to sovereignty and non-interference, offering a new model for international relations.”
For Pakistan and China, the conference further cemented our all-weather strategic cooperative partnership. Discussions focused on enhancing trade and industrial cooperation, with an emphasis on advancing the next phase of the China-Pakistan Economic Corridor (CPEC). The summit also provided a critical platform for defense and counter-terrorism coordination through new security centers, which are vital for Pakistan’s national security and regional stability.
Regarding India-China relations, the summit appears to have created a crucial opportunity for a reset. Prime Minister Modi’s presence and a new dialogue on border issues indicate a pragmatic shift towards cooperation over confrontation, which is beneficial for the entire region’s economic and political landscape.
Pakistan’s ability to navigate its bilateral relations with both China and the USA requires a balanced and flexible diplomatic approach. We must leverage our strategic location for regional connectivity while maintaining a robust, multi-faceted relationship with the United States. This is not a zero-sum game; our national interests are best served by engaging with all major powers based on mutual respect and shared goals.
This summit demonstrates the SCO’s evolution from a security-focused bloc to a comprehensive platform for economic integration and a stable, multipolar world, said Mian Zahid Hussain.
