The International Finance Forum (IFF) 2021 Annual Meeting, Sustainable Development under Global Challenges: Competition, Change and Cooperation, opened in Guangzhou on 4 December 2021.
The event brought together over 200 representatives of government authorities as well as financial and research institutions from around the world.
Speaking at the plenary session, SCO Secretary-General Vladimir Norov noted that, despite the COVID-19 pandemic, the SCO continues to remain a reliable platform for the development of mutually beneficial cooperation and for joint projects covering almost all sectors of the economy.
Over the past 20-year period, the SCO has established itself as a constructive and effective platform for responding to challenges including epidemic risks.
Vladimir Norov underscored the importance of digitalisation in the economy and using ICT, including in the financial sector. This approach should create a solid foundation for achieving sustainable financial development and attracting foreign direct investment in the SCO member states, he added.
In this context, the Secretary-General noted the need for the further development of the China-SCO Local Economic and Trade Cooperation Demonstration Zone in Qingdao as one of the platforms for interaction between the SCO countries, for trade, transport, finance, cultural and humanitarian cooperation, etc.
Vladimir Norov also focused on Guangzhou's potential as a platform for building industrial cooperation between the SCO member states, as well as a link in establishing contacts with the ASEAN countries.
The Secretary-General also highlighted Russia's proposal to build as many as 12,000 aircraft under the wide-body medium-haul high-capacity civil aircraft programme, Frigate Ecojet, until 2035 as an example of a public-private partnership involving all interested SCO countries, primarily companies from Russia, China and Uzbekistan with the required production facilities.
In conclusion, Vladimir Norov assured the IFF meeting participants that the SCO member states would continue to be active in the implementation of the 2030 Agenda for Sustainable Development, to promote the development of an open global economy, and to oppose unilateral protectionist actions that undermine the multilateral trade system and threaten the global economy.
The International Finance Forum (IFF) is an independent non-profit organisation founded in Beijing in October 2003 and established by financial leaders from more than 20 countries, regions and international organisations, including China, the United States, the European Union and the United Nations. The Forum is a high-level platform for dialogue in the financial realm.