SCO approves updated version of trade and economic coop program

UFA. KAZINFORM The updated version of the SCO multilateral trade and economic cooperation program has been approved. Special Envoy of the Russian President for SCO Affairs Bakhtiyer Khakimov said it today at the V Small and Medium Business Forum of the SCO and BRICS Regions, Kazinform correspondent reports.

Addressing the participants, Deputy Secretary General of the SCO Vladimir Potapenko read out a speech of welcome from the SCO Secretary General Vladimir Norov to the Forum participants.

«The SCO aims at a comprehensive development of trade and economic cooperation based on ensuring transparent, predictable and stable conditions for expanding economic ties and strengthening the political communication, promotion of regional cooperation initiatives and the national development strategy, raising the volumes of mutual trade and expanding investment cooperation to raise living standards of the SCO member states,» the message reads.

«In the nearest future, the SCO will begin implementing perspective programs and projects in the spheres representing mutual interest with the application of innovative and green technologies,» the document reads.

Special Envoy of the Russian President for SCO Affairs Bakhtiyer Khakimov pointed out that the SCO unites around 50% of the world’s population. Approximately ¼ of the global GDP is generated in its area.

This potential enables the member states to cooperate confidently in all the spheres. One of the major areas of cooperation is ensuring security and economic collaboration.

Further consolidation of the SCO remains a priority objective for now, he stressed. «Fight with terrorism, extremism, drug-trafficking and information challenges will be in spotlight,» Khakimov said.

«Today, the capital of Uzbekistan is hosting the 18^th meeting of the SCO economy ministers. The updated draft program of the SCO multilateral economic cooperation was approved on the eve of the meeting,» he added.

In his words, the SCO plans to draft the Road Map on increasing the share of national currencies in mutual payments. Special attention is paid to transport and logistics, infrastructure, digital and innovations sectors.

On the sidelines of the Forum, the participants will exchange views on relevant issues of the SMEs support, non-barrier collaboration, tourism development, visa and transfer control, youth entrepreneurship, implementation of new digital technologies and successful projects of the SCO, BRICS countries’ SMEs.