SCO Business Council to expand practical trade and economic cooperation

SCO Business Council to expand practical trade and economic cooperation

On 17 May 2019, Bishkek was the venue of a meeting of the SCO Business Council, organised by the Chamber of Commerce and Industry of the Kyrgyz Republic.

President of the Chamber of Commerce and Industry of the Kyrgyz Republic Marat Sharshekeyev greeted the participants and noted that the Council's members prioritised the real efforts being taken to facilitate business cooperation and to achieve comprehensive development of all regional countries.

Deputy SCO Secretary-General Aizada Subakozhoeva read out a message from SCO Secretary-General Vladimir Norov noting the Business Council's important role in the development of economic ties. Close cooperation with the Secretariat of the SCO Business Council in implementing the SCO Development Strategy Towards 2025 and a list of measures to further expand project activities within the SCO in 2017-2021 was underscored.

"Projects that are now being implemented by the Business Council are topical and highly popular in the region. At the same time, the cost-effective use of new opportunities that are opening up and the active involvement of the business community in this work are obviously important. Therefore the intensive development of business cooperation between SCO member states is becoming a highly important task," the SCO Secretary-General's message reads, in part.

The SCO Business Council's Executive Director Sergei Kanavsky informed the participants at the event about its activities during the period under review. The heads of national sections discussed the work carried out in their respective countries from June 2018 until May 2019.

Meeting participants suggested proposals concerning the development of online trade and the practical implementation of the Agreement between SCO Member States on Facilitation of International Road Transport, efforts to promote institutions for the legal protection of commercial interests in the SCO region, the creation of the Business Council's working group for exhibition activities, more vigorous cooperation in the tourist industry, the development of joint tourist projects and programmes on a par with leading tourist companies and travel agencies, as well as the implementation of tourist infrastructure projects.

Moreover, the Kazakhstani, Kyrgyz, Tajik and Russian sides unveiled projects concerning the development of trade and logistics centres and those in the field of industry and new technologies, tourism and transport communications.

Following the meeting, members of the Board of the SCO Business Council approved a report by the Business Council's Executive Secretary on the Council's 2018-2019 performance and long-term guidelines for the upcoming period.

The concluding protocol notes the need for continued work to involve the Council's national sections in the mechanisms of ministerial meetings and groups dealing with economic issues.

SCO agencies are advised to study the possibility of holding extraordinary offsite meetings of experts of the Council's national sections jointly with representatives of the SCO Interbank Consortium and other SCO agencies, as well as the possibility of taking part in international conferences.

Following the meeting, the Russian side assumed presidency of the Business Council in place of the Kyrgyz side.

The SCO Business Council, a NGO bringing together business and financial circles of SCO member states, was established on 14 June 2006 in Shanghai for establishing business contacts in various spheres and involving financial institutions in promoting multilateral projects within the SCO.