On 29 November 2019, the 11th China Overseas Investment Fair (COIFair) sponsored by the Chinese Overseas Development Association (CODA) started its work in Beijing.
The opening ceremony was addressed by SCO Secretary-General Vladimir Norov, who informed the participants about the SCO's trade and economic activities. "The SCO is making an important contribution to international trade and is taking steps to expand trade and economic cooperation, including by creating a favourable investment and business climate, supporting business initiatives, and launching mutually beneficial projects," he said.
He added that prospectively the SCO member states would make a considerable contribution to determining the vector of the global financial, economic and trade system's development. "In the short term, the SCO member states can become a key centre of global development, whose economic scale will reach 35-40 percent of the global GDP by 2030. Their annual foreign trade turnover has exceeded $6 trillion," he noted.
Mr Norov also focused on the results of the meeting of the SCO Council of Heads of Government (Prime Ministers) that was held in Tashkent on 2 November 2019, and the documents it approved.
Reference: COIFair is an effective venue for business communication and investment contacts sponsored by the PRC National Reform and Development Commission.
The event includes an exhibition and a forum. The participants will spend two days discussing promising investment projects in all spheres within the unified exhibition space.
The Fair was attended by representatives of more than 100 countries and
regions, including foreign companies interested in attracting investment.
From China, the event involved investors, representatives of major state businesses and private companies, financial institutions, government agencies, research organisations, and business associations.