Belarus is an unequivocal supporter of implementing joint initiatives and projects in the trade, economic, and investment spheres within the SCO space. This was stated by First Deputy Minister of Foreign Affairs of Belarus Sergey Lukashevich at the 23rd meeting of the SCO member states' ministers responsible for foreign economic and foreign trade activities, BELTA reports, citing the press service of the Ministry of Foreign Affairs of Belarus.
"Understanding the unconditional importance of the business segment in ensuring full and comprehensive cooperation between the SCO member states, the Republic of Belarus is an unequivocal supporter of implementing joint initiatives and projects in the trade, economic, and investment spheres within the organization's space, including under the auspices of its Business Council," said the First Deputy Head of the MFA.
According to statistics, the SCO member states account for over 70% of Belarus's total trade turnover, with trade volume with SCO countries growing year by year.
Sergey Lukashevich explained that in the stage preceding Belarus's accession to the SCO, the National Centre for Marketing and Price Conjuncture, one of the main national institutions for non-financial support of foreign trade in Belarus, joined the interaction with the Business Council of this organisation as a partner structure. "This institution will act as the national part of the SCO Business Council from the Republic of Belarus in its new status," he said.
"Now that our state has become a full member of the Shanghai Cooperation Organisation, the Belarusian side is ready to build on this positive experience of interaction, take an initiative-driven part in the council's activities, in shaping its business agenda and in the practical substance of business dialogue in various formats," added the First Deputy Minister of Foreign Affairs.
According to him, it is also important within the SCO to promote financial cooperation. "We believe this can be achieved by creating mechanisms for financial support of project activities, joint implementation of advanced technologies, and a gradual increase in the share of national currencies in mutual settlements," noted Sergey Lukashevich. It is planned that Belarussbank will participate in the work of the SCO Interbank Association Council at its next meeting in the summer of 2025 as a full member.
"Priority areas will also remain infrastructure construction and investment in production, joint promotion of industrialisation and modernisation processes in the region. We believe that our benchmark should be the action plan for the implementation of the SCO Economic Development Strategy for the period up to 2030, adopted at the Astana Summit on 4 July 2024," said the First Deputy Minister.
He stressed that Belarus "resolutely advocates for strengthening an open, transparent, non-discriminatory, inclusive and fair trading system as a basis for stimulating trade and sustainable development in the region." "In this area, the joint, coordinated actions of the SCO member states are the key to the recovery and prosperity of the regional economy," added the First Deputy Minister of Foreign Affairs.
Speaking about the role of tools for stimulating the development of a new, high-quality type of international economy, he drew attention to the unthe need for diversification of the commodity structure, development of cooperation in e-commerce, formation of close trade, investment and research ties in high-tech sectors such as information technology.
"We are ready to make efforts to create a favourable investment climate in the region, as well as conditions for international transportation, to take a direct and most active part in realising the transit potential of the region, forming international transport corridors, expanding transport and communication capabilities and creating multimodal logistics centres. This approach will qualitatively improve the existing international trade system," emphasised Sergey Lukashevich.
Belarus intends to participate in the meeting of the Council of Heads of Government of the SCO member states for the first time in a new capacity, he noted. "As a full member of the Shanghai Cooperation Organisation, the Republic of Belarus is ready to make every effort to promote steady sustainable economic growth in the interests of preserving and maintaining peace and stability in the region," said the First Deputy Minister. "It is important for us that the approaches developed are based on the principles of transparency, mutual respect, equality and openness to all interested parties. I am convinced that the Shanghai Cooperation Organisation is a reliable platform in this sense for constructive dialogue, exchange of views and development of progressive solutions in the field of economic cooperation."
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