India on Wednesday described itself as a 'victim of terrorism' and promised to cooperate with members of the Shanghai Cooperation Organisation in combating the scourge and other challenges to peace and stability.

• Terrorism: The Enemy Within

"We share the main SCO objectives of combating all forms of intolerance and fundamentalism in our region," Petroleum and Natural Gas Minister Murli Deora said in his address to the Fifth Summit of the SCO here in the eastern Chinese metropolis.

• India concerned about terror threat

"India, a victim of terrorism, appreciates the SCO's firm stand against terrorism and commits itself in working closely with all SCO countries in countering terrorism and challenges to peace and stability," Deora, heading the Indian delegation told the audience, which included Pakistani President Pervez Musharraf [Images].

"As an observer, India is keen to associate itself fully with the SCO and contribute to and enrich ourselves by close association," he said.

• Bangladesh: Next terror frontier?

He noted that the economic and social progress made by Asia in the recent past has forced the world to take notice of them. At the same time, there are disparities in their road to development, he noted.

Deora said that India had the unique developmental experience, which it was willing to share with SCO member nations for common development.

"There is great responsibility on all of us to collectively cooperate and help fulfill the aspirations of SCO member countries," he said, identifying energy security as another area where SCO members have to cooperate for mutual benefit.

• 'With terror lurking, we can't leave J&K'

India is one of the four nations with observer status at the SCO, a Beijing-based regional security organ. It also has Mongolia, Pakistan and Iran as observers. The intergovernmental organisation comprises of China, Kazakhstan, Kyrgyzstan, Russia [Images], Tajikistan and Uzbekistan.

Russian President Vladimir Putin [Images] also asked for concluding a multilateral agreement between the SCO member states that should express 'common responsibility for the region's fate.'

• We'll tackle terror in Kashmir: Musharraf

The agreement should emphasise 'the relationship of truly equal strategic partnership,' Putin said, suggesting that the SCO defence ministries should be more actively engaged in combating terrorism and extremism.     

Musharraf, in his speech, urged the SCO member states to accord full membership status to Islamabad. He said Pakistan would do its best to promote the country as the hub for trade and economic cooperation for SCO nations.

Earlier, Chinese President Hu Jintao, who is also the host of this year's SCO summit, proposed the formation of a convention featuring lasting good neighbourhood relations and cooperation within the grouping.