SCO Business Forum held in St.Petersburg
On June 18, the SCO Business Forum was held as part of the St.Petersburg International Economic Forum.
The event was attended by SCO Secretary General Dmitry Mezentsev, President of the Russian Chamber of Commerce and Industry Sergei Katyrin, First Deputy Minister of Economic Development Alexei Likhachyov, Vice Chairman of the China Council for the Promotion of International Trade Ping Yu, Member of the Board (Minister) of the Eurasian Economic Commission Karine Minasyan, Minister of Economic Development and Trade of the Republic of Tajikistan Nematullo Khikmatullozoda, Chairman of the State Duma Committee on Economic Policy, Innovative Development and Entrepreneurship Anatoly Aksakov, Head of the Republic of Bashkortostan Rustem Khamitov and Deputy Chairman of the Vnesheconombank State Corporation.
The panel discussion involved representatives from all SCO member states, observer states and dialogue partners.
The forum agenda included trade and economic cooperation among SCO member states, prospects for the organization's development and new opportunities, and interaction with the Eurasian Economic Union and other international associations.
SCO Secretary General Dmitry Mezentsev said that the organization is studying a new and important issue - how the prospects for trade and economic cooperation in the SCO correlate with real steps taken today to develop the Eurasian Economic Union. He also reported that a document on cooperation between the UN and SCO was adopted at the 69th Session of the UN Assembly.
Mezentsev stressed that trade and economic cooperation within the SCO is indeed tangible, which makes millions of people within the organization understand that the SCO exists for the betterment of their interests, their families and their future.
Speaking about the correlation that exists between national interests and the SCO's interests, Mezentsev cited as an example the Agreement between SCO Member States on International Road Transport Facilitation. After its adoption, the member states began to adjust their national roadmaps in accordance with the document.
The SCO secretary general expressed hope that the heads of SCO member states will adopt the SCO Development Strategy Toward 2015 at the Ufa Summit.
Member of the Board (Minister) of the Eurasian Economic Commission Karine Minasyan spoke about cooperation between the Eurasian Economic Union and SCO. According to Minasyan, it is highly necessary to take steps to make all members of the Eurasian Economic Union members of the SCO as well.
She added that the Eurasian Economic Union's projects should also be associated with the Great Silk Road Economic Belt concept.
Speaking about the Ufa Summit, First Deputy Minister of Economic Development Alexei Likhachyov said it would be symbolic. "First of all, we will try to find that economic component within the SCO, BRICS and Eurasian Economic Union that can unite these three highly significant international associations," he said.
According to Likhachyov, the SCO leadership and economic agencies of member states should be able to identify and apply their own tools toward specific projects.
He underscored that the SCO Secretariat and SCO Business Council should make the work on selecting and promoting projects more public.
The panelists also discussed support for small- and medium-sized businesses.
In particular, China Council for the Promotion of International Trade Vice Chairman Ping Yu stated that - despite active trade and economic links - the role of small- and medium-sized businesses is still insignificant in global trade.
As such, Yu proposed establishing an institution, tentatively named the Center for Legal Advice and Solutions of Commercial Disputes.
According to the vice chairman, the SCO Business Council must improve its work constantly to provide better services and assistance to businesses and businessmen from member states.
Yu added that an important role in developing the SCO business community is vested in the SCO Development Bank, upon which the business community places a great deal of hope. "Thanks to the Development Bank, we will be able to grow cooperation between our countries' companies and businessmen," he said.
He also thanked SCO member states for supporting the Great Silk Road Economic Belt project and Asian Infrastructure Investment Bank established upon China's initiative in 2014.
Minister of Economic Development and Trade of the Republic of Tajikistan Nematullo Khikmatullozoda stressed in turn that the SCO faces the task of developing a new take in the near medium term and must develop a strategy for further action.
