On September 16, the Summit of Shanghai Cooperation Organization (SCO) was held at the Samarkand International Conference Center. What achievements have this Summit achieved on the economic and trade front? How about the implementation by the Ministry of Commerce in the next step?(2022-09-22)
On September 16 local time, the 22nd Meeting of the Council of Heads of State of the Shanghai Cooperation Organization (SCO) was held in Samarkand. President Xi Jinping delivered an important speech, pointing out that it is important to continue our efforts to achieve the complementarity of the Belt and Road Initiative with national development strategies and regional cooperation initiatives, expand sub-multilateral cooperation and sub-regional cooperation, and create more growth drivers in cooperation. This provides an important guide for SCO member states to deepen regional economic cooperation.
At this meeting, fruitful and practical economic and trade outcomes were reached and a number of statements and documents were released. First, Statement of the Council of Heads of State of the Shanghai Cooperation Organization on Protecting Security, Stability and Diversification of Supply Chains, which agrees to safeguard supply chain stability by developing logistics infrastructure and promoting trade facilitation, etc. Second, the Framework for Cooperation on Trade in Services among SCO Member States, which specifies the principle, area, path and mechanism for cooperation on trade in services. Third, the SCO Infrastructure Development Plan, which emphasizes improving the efficiency of transportation infrastructure and enhancing infrastructure in areas such as smart transportation, green development and tourism. Fourth, the Joint Action Plan for Regional Trade Development of the Shanghai Cooperation Organization for 2023-2025, which agrees to promote trade and investment cooperation, enhance cooperation among business chambers or associations, and discuss streamlining customs procedures, etc.
In addition to the outcome document just mentioned, President Xi Jinping also proposed in his speech that China will hold the SCO Industry and Supply Chain Forum in 2023. This will provide a useful platform for countries in the region to explore how to strengthen cooperation on industrial and supply chains.
At the end of this month, the Ministry of Commerce will host the 21st meeting of economic and trade ministers of SCO member states, earnestly implement the economic and trade consensus reached by President Xi Jinping with leaders of other member states at this Summit, and thoroughly explore practical measures to expand cooperation in the fields of trade and investment liberalization and facilitation, industrial and supply chains, multilateral trading system, digital economy, connectivity and local economic cooperation and trade. China will work with SCO countries to take this Summit as an opportunity to continue to hold high the banner of "Shanghai Spirit", further consolidate the sound momentum of regional economic cooperation, and work together to build a closer SCO community with a shared future. Thank you.