NEW DELHI: Without directly referring to the US tariff policy, India and other SCO members opposed unilateral coercive measures, including those of an economic nature, that contravene the UN Charter and other norms of international law, the rules and principles of the World Trade Organisation, negatively affecting the global economy and damaging the interests of international security.PM Narendra Modi in his SCO address welcomed the adoption of a statement on support for the multilateral trading system. “The SCO can play a guiding role in promoting multilateralism and an inclusive world order,” he said.According to the Declaration, the member states supported the further improvement and reform of the global economic governance architecture. It said they will consistently uphold and strengthen an open, transparent, fair, inclusive, non-discriminatory and multilateral trading system based on universally recognised international principles and rules, which promotes the development of an “open global economy, ensures fair market access and provides special and differential treatment for developing countries”.The Declaration underscored the role of the SCO region in restoring the global economy, maintaining stability of global production and supply chains, and ensuring further sustainable development.The Tianjin Declaration also noted the initiative to develop an agreement on trade facilitation within the SCO.
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