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19th Meet of SCO Ministers of Foreign Economy and Foreign Trade

Published on October 30, 2020
Current Context: The 19th meeting of the Shanghai Cooperation Organisation (SCO) Ministers of Foreign Economy and Foreign Trade was held virtually.
19th Meet of SCO Ministers of Foreign Economy and Foreign Trade
  • The meet was chaired by Union Minister for Commerce and Industries, Piyush Goyal. The meet was also attended by Minister of State for Commerce and Industry, Hardeep Singh Puri.
  • Union Minister Piyush Goyal addressed the meet that countries must work collaboratively to strengthen their economic strengths in order to increase trade and investment so as to achieve speedy recovery form pandemic.
  • Also, the cooperation will help to achieve global economic growth as SCO nations contribute to 1/7th global trade in goods and 1/8th global trade in commercial services. 
  • Four major documents were adopted in the meet: (1) Statement on the response on COVID-19 (2) Statement on Multilateral Trading System (3) Statement on SCO Cooperation on Intellectual Property Rights (4) Action Plan for the implementation of MoU for increasing cooperation in MSMEs.
  • First-ever SCO Startup Forum: It was launched by Union Minister Piyush Goyal ahead of this meet. The forum will perform the role of the foundation for multilateral cooperation and will allow engagement of SCO nations to develop startup ecosystems. The forum is the initiative of the Ministry of Commerce and Industry in partnership with Confederation of Indian Industry (CII). 
  • Static Part: 
    • HQ of SCO: Beijing, China
    • Secretary-General of SCO: Vladimir Norov

Question: 

Q.1 Who among the following chaired the 19th meeting of Shanghai Cooperation Organisation (SCO) Ministers of Foreign Economy and Foreign Trade?
a. Nitin Gadkari
b. S Jaishankar
c. Piyush Goyal
d. Rajnath Singh
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