SCO Business Forum: Officials and entrepreneurs discuss trade


Member countries of the Shanghai Cooperation Organization have recorded increases in their trade volumes. And multilateral economic plans are being discussed to improve each country’s development roadmap. Wu Guoxiu brings us more from today’s SCO Business Forum in Beijing.

How can SCO countries synergize development strategies and promote connectivity? That’s what the SCO Business forum sought to answer.

CHEN ZHOU, VP CHINA COUNCIL FOR PROMOTION OF INT’L TRADE “I suggest member countries, SCO Business Council, chambers and associations to push forward the connection of Belt & Road Initiative with development policies like the Eurasian Economic Union, and the Bright Road. And to make full use of each countries’ advantages in resources, industrial structure, technologies, talents and finance to achieve associated development.”

The SCO countries are building land, sea, aviation, telecom connections among each other. And Chinese companies are involved in many of such projects. Trade between China and other SCO member countries hit 217 billion US dollars last year, compared with 12 billion dollars in 2001. Another country which saw a significant increase in trade volume is Uzbekistan.

ADKHAM IKRAMOV, CHAIRMAN UZBEKISTAN CHAMBER OF COMMERCE & INDUSTRY “By 2017, Uzbekistan had 20 million US dollars worth of trade volume with other member countries, a large increase compared to before. That trade is of great importance, and among that, small and medium-sized companies play an important role.”

The forum gathered 300 trade officials, business leaders and entrepreneurs – and they all had their own takeaways.

VADIM KUKUSHKIN, CHIEF REPRESENTATIVE JSC RUSSIAN AGRICULTURAL BANK, BEIJING OFFICE “These meetings are like the landmark, they set the directions, we understand the directions, rules and business will cooperate directly and companies could start talking about exact business.”

JIANG JUNPING, CHAIRMAN WONMORE INT’L GROUP, QINGDAO “Our cold chain food service platform in Qingdao city has cooperation ties with Russia, Kazakhstan and Kyrgyzstan. It’ll help promote trade among SCO member countries.”

WU GUOXIU BEIJING “Building platforms, connectivity and facilitation, those are the main goals of the Business Forum. Participants and speakers are also expecting the policies announced at the Qingdao summit to help better achieve their business ambitions. Wu Guoxiu CGTN, Beijing.”