This June, the Shanghai Cooperation Organization Summit (SCO) will be held in Qingdao, the coastal city in the East China Shandong province, reflecting China’s advocacy of the Belt and Road Initiative as Qingdao has both land and maritime connections with other nations. The SCO is a Eurasian political, economic and security organization created in 2001 and currently encapsulates approximately half the world’s population, a quarter of the world’s GDP and 80% of the Eurasian landmass. The summit is held to boost regional cooperation and foster a consensus between China and her neighboring nations.
Qingdao is the largest city in the Shandong province of East China with a GDP of approximately (USD) $1.1 trillion. The SCO Summit involves Russia, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, India and Pakistan as full members; four observer states, namely the Islamic Republic of Afghanistan, the Republic of Belarus, the Islamic Republic of Iran and the Republic of Mongolia; and six dialogue partners, with the Republic of Azerbaijan, the Republic of Armenia, the Kingdom of Cambodia, the Federal Democratic Republic of Nepal, the Republic of Turkey, and the Democratic Socialist Republic of Sri Lanka. With the stated goals of “strengthening mutual trust and neighbourliness among the member states; promoting their effective cooperation in politics, trade, the economy, research, technology and culture, as well as in education, energy, transport, tourism, environmental protection, and other areas; making joint efforts to maintain and ensure peace, security and stability in the region; and moving towards the establishment of a democratic, fair and rational new international political and economic order,” the summit is expected to bring forward new ideas in trade and mutually beneficial economic growth among involved parties.
We at Everglory Logistics will be watching this event closely to advise and prepare our customers for any new actions, events and changes that could impact their cargo. As a global partner in world trade, we understand that these unique summits bring a chance for renewed commitments to progress and commit to being a point of contact and expertise on navigating changes.
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