External Affairs Minister Natwar Singh Wednesday declared that India will cooperate with the Shanghai Cooperation Organisation in the fight against terrorism and extremism.

"India supports the objectives of the SCO, which seeks to ensure stability in its region, combat terrorism and extremist view points and promote economic cooperation," Singh said in his five-minute speech at the summit of the Council of Prime Ministers of SCO countries at the President Hotel.

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"We would like to actively cooperate with our SCO partners to make a positive and constructive contribution to agreed areas of activities of the SCO," he stressed.

Referring to the trade and economic agenda of the summit, he said it was very important for India that the SCO focused on economic cooperation in the region.

"We support the various initiatives mooted for increasing trade, which we feel are important for reducing regional economic disparities," he said.

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He also called for further interaction within the North-South Corridor, involving the SCO countries.

On energy security and stability in the region, Singh said it was an another key sphere in which "meaningful cooperation" can be developed between the SCO countries.

"It would be worthwhile if energy cooperation could become a priority sector within the ambit of SCO activities," the minister underscored, welcoming the India-Pakistan-Iran and Turkmenistan-Afghanistan-Pakistan pipelines.

He also suggested to convene regular meetings of SCO energy ministers to exchange views on energy security and stability in the region.

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"India is keen to play a constructive and active role in the SCO," he said.

Answering a question as to the prospects of India becoming a full member of the SCO, Singh said that India's participation in the organisation was a signal of India's strong interest for regional economic cooperation and fighting terrorism.

India will take a view on the membership of the SCO, in near future, after holding consultations with its friends, Singh said.