17 october 2024 — 16:19
The countries of the Shanghai Cooperation Organization (SCO) must ensure the freedom of movement of goods and capital in its space. This was stated by the secretary General of the association Zhang Ming, a TASS correspondent reports.
"The gradual transition to the free movement of goods, capital, technologies and services remains one of the fundamental goals of economic cooperation within the organization," he said, speaking at a meeting of the Council of Heads of Government of the SCO member states in Islamabad.
According to the Secretary General, the recorded growth in mutual trade turnover between the participating countries in 2023 reached, according to preliminary estimates, $650 billion. "This indicates that there is a favorable base and prospects for consistent simplification and liberalization of trade in the SCO space," he stressed.
According to the head of the organization, the maximum use of the possibilities of cross-border cooperation centers, pilot zones, transport and logistics hubs, fairgrounds and other platforms for interregional cooperation can "give a powerful impetus to the expansion of mutual trade." He noted that this will also be facilitated by "removing the remaining legislative and technical barriers while increasing the share of national currencies in mutual settlements." Thus, as Zhang Ming explained, it will be possible to maximize trade and economic ties between the members of the association.