QINGDAO, July 20 (Xinhua via Wang Yu, Sun Peijin) - The China-Shanghai Cooperation Organization (SCO) Local Economic and Trade Cooperation Conference concluded in Qingdao, Shandong Province, on the 19th. Faced with global economic challenges, SCO countries have transformed the vision of "sharing opportunities" into a solid foundation for local economic and trade cooperation through closer economic ties.
In recent years, economic and trade exchanges among SCO countries have become increasingly frequent. In 2024, trade between China and SCO member states, observer states, and dialogue partners reached a record high of $890 billion.
Karim Khanjaza, a member of parliament from Kyrgyzstan attending the conference in China, stated that during the 24-year development of the SCO, cooperation between Central Asian countries and China has made significant progress in both economic and cultural aspects. "Central Asian countries have high hopes for the SCO and expect it to further promote infrastructure and digital economy projects to deepen regional cooperation and common development," he said.
At this critical juncture when China serves as the rotating presidency of the SCO for 2024-2025, the conference provided a platform for local economic and trade cooperation and exchanges between China and SCO countries, injecting stronger "SCO strength" into promoting economic globalization and building an open world economy.
During the conference, participants shared experiences in local economic and trade cooperation, explored new directions for improving the quality and increasing the volume of bilateral trade and investment, deepened multilateral and bilateral economic and trade exchanges among local provinces and states (cities) of various countries, and promoted precise alignment, in-depth negotiations, and practical cooperation in fields such as economy, trade, investment, mineral resources, new energy, transportation and logistics, and equipment manufacturing.
Nurlan Yermekbayev, Secretary-General of the SCO Secretariat, pointed out that the conference showcased two major innovations: on the one hand, participating delegations conducted in-depth analyses of local economic and trade cases and provided professional recommendations; on the other hand, enterprises gained a comprehensive understanding of the unique products of different countries and established direct business connections.
At the Qingdao·SCO Jewel International Expo Center by the Jiaozhou Bay, discussions and negotiations intertwined, creating a symphony of mutual benefit and win-win cooperation. The booth of Madi, an Iranian purchaser, was crowded with visitors, and the saffron and unique handicrafts he brought from his hometown attracted much attention.
To broaden sales channels and support families in poverty-stricken areas of Iran, Madi has actively participated in various expos in China for seven consecutive years. He said that the economic and trade platform established by the SCO provides crucial support for small and medium-sized enterprises in SCO countries, including recommending customer orders, connecting trade resources, providing exhibition spaces, and facilitating international exchanges.
"Local economic and trade cooperation plays a fundamental and pioneering role in promoting practical cooperation within the SCO framework. Countries can achieve in-depth alignment in specific projects and industrial sectors, forming a mutually beneficial and win-win cooperation pattern," Sheng Li, a distinguished professor at Shandong University and executive dean of the SCO Research Institute, pointed out in an interview with China News Service. As the SCO continues to grow and develop, local economic and trade cooperation will play an even more important role in emerging fields such as green development, digital economy, and industrial upgrading, he added.
Based on the platform advantages of the SCO Demonstration Zone, the conference strengthened exchanges with local governments and enterprises of SCO countries and deepened alignment and cooperation in industrial and supply chains with SCO countries. All participants agreed that open cooperation should be used to drive growth and connectivity to promote prosperity.
In 2023, the Brest Free Economic Zone in Belarus signed cooperation memorandums with relevant parks and enterprises in China. Krivetsky Alexander Nikolaevich, deputy director of the management committee of the economic zone, stated that since the start of cooperation with the SCO Demonstration Zone, investment from China has steadily increased, particularly in the fields of machinery manufacturing and agricultural technology, with cooperation established with more than 50 Chinese enterprises.
"The SCO Demonstration Zone creates a trade and investment platform to facilitate regional economic and trade cooperation, providing an important cooperation vehicle and service platform for member states," Sheng said. Local economic and trade cooperation not only promotes bilateral trade and investment but also provides replicable and promotable experience and models for overall cooperation within the SCO.
During the conference, a number of key projects in critical areas such as energy cooperation and infrastructure connectivity were successfully signed, further promoting all-round and multi-tiered practical cooperation among localities under the SCO framework to a new level. "This conference has made positive and effective contributions to cooperation and development within the SCO framework, as well as cooperation and exchanges between enterprises and business associations in Shandong Province and SCO member states," Nurlan Yermekbayev said. (End)
