The trade turnover between Kazakhstan and the SCO countries amounted to $ 14.2 billion

The trade turnover between Kazakhstan and the SCO countries amounted to $ 14.2 billion

Minister of Trade and Integration of the Republic of Kazakhstan Bakhyt Sultanov spoke at the Economic Forum of the Shanghai Cooperation Organization with the participation of SCO countries delegations heads.

The Forum will be held on June 23-24, 2021 in Dushanbe. The theme of the Forum is «Building cooperation in the field of digital economy, e-commerce and innovation».

In his speech, Minister Sultanov noted that «the Shanghai Cooperation Organization, thanks to the efforts and direct participation of the leaders of our countries, has become an effective mechanism for cooperation in trade, economic, transport, environmental and other areas».

Kazakhstan considers the SCO as an important strategic and trade and economic organization. Trade and economic relations of the Republic of Kazakhstan with the SCO member states remain at a high level.

According to the results of 4 months of 2021, the trade turnover between Kazakhstan and the SCO countries amounted to 14.2 billion US dollars, which is 11% higher than in the same period of the previous year (12.8 billion US dollars).

According to Bakhyt Sultanov, the potential for increasing Kazakhstan's exports to the SCO member states is about $ 2 billion in such sectors as the chemical industry, food industry, mechanical engineering and other manufacturing sectors of the economy.

To further developing of trade and economic cooperation and maintaining its high positive dynamics, the Kazakh delegation was invited to continue working together to expand the range of goods and services supplied, establish direct contacts between the business communities.

The Kazakh side also proposed to step up efforts to modernize and expand the digital infrastructure and accelerate digital transformation for cross-border e-commerce, using digital platforms to expand access to trade finance and data exchange. In particular, the development of e-commerce infrastructure, support for the development of fulfillment centers, simplification of registration procedures and access of marketplaces to the markets of partner countries.

«It is necessary to create the appropriate infrastructure within the SCO, to work closely in the digital sphere in order to ensure technological compatibility», the Minister Sultanov urged.

The Kazakh side also voiced a proposal to create an E-commerce Support Fund, which would provide the necessary support to growing platforms and assist in opening points of delivery of goods on the territory of the participating countries.

Within the framework of the Forum, the Minister Bakhyt Sultanov also held a number of bilateral meetings with the heads of delegations of the SCO member states.

During the meetings, the parties discussed issues of bilateral cooperation in the field of domestic and foreign trade, export of goods and services, implementation of commercial and investment projects, intellectual property and electronic commerce.

 

The Shanghai Cooperation Organization includes Russia, China, India, Kazakhstan,Kyrgyzstan, Pakistan, Tajikistan, and Uzbekistan.

The total population of the SCO member states, as well as observers and dialogue partners, exceeds 3 billion. people (about 45% of the world's population).