| Gao Hucheng: Regional Economic Cooperation of SCO has made significant initial achievement |
| Friday,October 23,2009 Posted: 15:11 BJT(0711 GMT) Mofcom |
 Business forum of Shanghai Cooperation Organization (SCO) opened in Beijing on October 14, with the theme of promoting practical cooperation and creating regional prosperity. Mr. Li Keqiang, Vice Premier of China State Council, attended the forum and delivered a keynote speech on further deepening SCO regional economic cooperation. Deputy Minister of Commerce Gao Hucheng said when addressing the forum that the regional economic cooperation of SCO is an important task specified by the leaders of member countries. At present, through unremitting efforts of all parties, great initial achievements have been made in trade and investment facilitation, strengthening economic and technological cooperation, and realizing the regional free flow of goods, capital, technology and service. Share of Trade with member countries in their respective total trade increases year by year, and economic and trade relations of the member countries has become more and more close. Trade between China and other member countries of SCO in 2008 reached USD 86.8 billion, up by 7.2% compared with 2001. Investment and economic and technological cooperation has become the main contents of regional economic cooperation gradually. The regional economic integration and development was further promoted by the enlarged investment, broadened field and deepened level of the member countries. The regional network for energy, transportation and telecom has initially formed due to the launching and implement of a set of infrastructure project. Mr. Gao Hucheng put forward four suggestions on promoting regional economic cooperation and sustainable development: 1. Further optimize trade and investment platform, ensure free flow of goods, capital, technology and service. Give priority to capacity building in the region, enhance policy coordination on custom, inspection and personnel exchanges; accelerate regional information technology development; improve interactive mechanism of enterprises and governments; promote settlement facilitation and the process of settlement with currency. 2. Continue developing financing support system. Let bank consortium to play an active role, facilitate opening of a SCO special account, explore the establishment of bank association and promote the regional development of market-based financing. China will work together with all parties to implement President Hu Jintao’s promise that made in Yekaterinburg summit this year to provide USD 10 billion commercial loans to SCO member countries. 3. Enhance cooperation of business enterprises. Establish business contact and cooperation through holding business forum and investment forum. Maintain the enthusiasm of enterprise cooperation, create a better environment, develop more positive policies, and provide more powerful support. 4. Enhance construction of cooperation mechanism. Further perfect the legal system and economic cooperation mechanism to facilitate signing of Multilateral Investment Protection Agreement and Multilateral Transportation Facilitation Agreement, and the set-up of regional economic research mechanism. |
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