26 Aug 2021, 13:41

SCO states’ partnership fuels growth of mutual investments, says Secretary General

According to Vladimir Norov, the fruitful cooperation between the members of the organization is based on the principles of the "Shanghai spirit," on mutual trust and respect, on equality and mutual benefit

BEIJING, August 26. /TASS/. Secretary General of the Shanghai Cooperation Organization (SCO) Vladimir Norov expressed confidence that the volume of investments within the organization’s space will continue to grow thanks to the constructive partnership between its members-states.

He was speaking during the opening of the (China) Eurasia Commodity and Trade Online Expo 2021. His statement was published on the website of the international association on Thursday.

"The constructive partnership that has been established between the SCO members <...> enables us to use advantages provided by the geographical proximity and complementarity of [their] economies, fuels further intensive search and implementation of joint investment projects," Norov said in a video address to the participants of the exhibition.

According to him, the fruitful cooperation between the members of the organization is based on the principles of the "Shanghai spirit," on mutual trust and respect, on equality and mutual benefit.

"The SCO today is a space that unites almost half of the world's population and a huge consumer market with rich natural resources, advanced production facilities and technologies," the Secretary General recalled.

As Norov recalled, the association attaches great importance to the role of the Xinjiang Uygur Autonomous Region (northwest of China) as a key link for the implementation of the Belt and Road Initiative and the promotion of trade and economic cooperation in the region. He also noted the importance of developing e-commerce, transport and logistics, which, in the context of the pandemic, "became the basis for supporting small and medium-sized businesses."

The (China) Eurasia Commodity and Trade Online Expo 2021 opened Wednesday in Urumqi, capital of northwest China's Xinjiang Uygur Autonomous Region, on August 25. The event is sponsored by the Chinese Ministry of Commerce and is held under the slogan of mutually beneficial economic cooperation on the territories of countries participating in the Belt and Road initiative.

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