Thursday, June 15 2006 17:15 Hrs (IST) - World Time -

Shanghai: Seeking to play a greater role to ensure security and development in the region, India today (June 15, 2006) pledged to 'work closely' with China, Russia and four other members of a regional grouping in countering terrorism as also challenges to peace and stability.

India, an observer in the Shanghai Cooperation Organisation (SCO), said at its fifth summit here that it looked forward to being a substantive and active partner of the six-member grouping to help in development of the region.

"India as a victim of terrorism appreciates SCO's firm stand against terrorism and commits itself to working closely with all SCO countries in countering these threats and challenges to peace and stability," Petroleum and Natural Gas minister Murli Deora told the summit.

"As an observer, India is keen to associate itself fully with the activities of the Organisation as we are of the view that we would mutually benefit and enrich ourselves by such association," he said.

Pakistan, Iran and Mongolia also have observer status in SCO, whose other members are Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan.

"We believe that the SCO is actively considering the ways and means of involving Observer countries in its activities," Deora said as President Pervez Musharraf, representing Pakistan, listened attentively.

"We are confident that the final SCO document regarding participation of Observer states would provide them opportunities to make substantive contributions to the development and activities of the SCO," he said, adding India looked forward to being a substantive and active SCO partner.

The Petroleum Minister said that since associating with the grouping over a year ago, India has consistently expressed interest in working together for greater intra-SCO trade as also development of banking and financial services.



"This includes the robust capital markets in our countries, involving ourselves in the SCO Business Council and SCO Development Fund and participation in SCO projects," Deora said.

"We feel that transportation networks and transit facilities are a vital area for SCO's consideration as some SCO countries are landlocked. We have to work together to see that products from these countries reach world markets at a cost-efficient basis," Deora said.

Energy security was another area where cooperation is needed, as SCO member and observer countries are the major producers and consumers of energy in the world, he added.

"Noting that India shared the main objectives of SCO, which are to combat all forms of intolerance, extremism and fundamentalism in our region," Deora said.

"We are confident about SCO's future and see it as an organisation which would stand for peace and stability in our region including countering terrorism, as well the needs of greater economic cooperation and cultural exchanges amongst our countries," he said.

Conveying the greetings of the Indian people, Deora said New Delhi has taken note of the growing stature of SCO.

"We in India have observed with keen interest the growth in stature of the SCO during this relatively brief period," he said and highlightied the need to promote people-to-people contacts and a greater cultural dialogue and interaction amongst member countries.