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SCO countries to restore, expand economic cooperation, says Putin

The pandemic has led to a reduction of the international trade, triggered volatility on the financial and commodities markets, limited investment flows, Vladimir Putin noted

MOSCOW, September 17. /TASS/. The Shanghai Cooperation Organization (SCO) member-states can not only restore the trade and economic cooperation, which has declined due to the pandemic, but also bring it to a new level, Russian President Vladimir Putin said via video link at the SCO summit on Friday.

"Last year Russia’s mutual trade with SCO countries decreased by 6.4% to $141.6 bln. However, now all indications are that we can improve the situation and bring cooperation to the previous level, even strengthen it," he said, adding that large-scale anti-crisis measures being taken by all countries of the integration contribute to that.

The pandemic has led to a reduction of the international trade, triggered volatility on the financial and commodities markets, limited investment flows, Putin noted. "The crisis state of the global economy has pushed unemployment, the poverty level up. All that has surely affected the economic ties between SCO members," the Russian leader added.