NEWS AND EVENTS
September 10, 2009
SCO trade ministers consider development of cooperation
Eighth session of ministers, responsible for foreign economic and foreign trade activity of the Shanghai Cooperation Organization (SCO) was held in Bishkek, Kyrgyz Republic, on 10 September 2009.
First Deputy Foreign Economic Relations, Investment and Trade Minister of Uzbekistan Nasriddin Najimov represented his country at the session. The Shanghai Cooperation Organization unites China, Russia, Kazakhstan, Kyrgyz Republic, Tajikistan and Uzbekistan. Mongolia, India, Iran and Pakistan are observers in the organization.
Participants discussed issues of implementation of the programme on multilateral trade-economic cooperation of the SCO, formation of the SCO Development Fund, reports of Business Council and Interbank Union for 2008-2009.
During the meeting, the Chinese side proposed to create mechanism on monitoring of the SCO economic development under aegis of the Meeting of Ministers, responsible for foreign economic and foreign trade activity. The meeting approved the proposal.
The SCO ministers considered and approved draft joint initiatives on fighting global financial crisis, which was developed by the Chinese side. The ministers advised the SCO Prime Ministers to approve the initiatives in their next meeting in Beijing on 14 October 2009.
Participants underlines that participation of the SCO observers in the work of the organizationís body positively affects to development of regional economic cooperation.
The sides agreed that the Meeting of Ministers, responsible for foreign economic and foreign trade activity will be held in Russia in 2010.