SCO to be transformed into economic platform - Kazakh president

By Trend

Shanghai Cooperation Organisation (SCO) is yet to be transformed into an economic platform, President of Kazakhstan Kassym-Jomart Tokayev said during a meeting in the expanded format of the SCO Council of Heads of State and Members, Trend reports.

He noted that SCO unites the dynamically developing economies of the world with colossal human, resource and technological potential.

"The SCO member states account for about a quarter of the global GDP, that is, more than $23 trillion. States have at their disposal the richest reserves of energy resources, coal, rare metals and renewable energy sources. There is no confrontation in the ideological and institutional foundations of the organization, which contributes to the growth of the international prestige and popularity of the SCO, which I just spoke about. Therefore, the geography of the participants in the SCO process is expanding from year to year," Tokayev stated.

"This is convincing evidence of the high demand for the Organization. In my opinion, the SCO is the most successful international organization of all existing in the modern world. Member states support the development of economic cooperation in the SCO in various forms for a gradual transition to the free movement of goods, capital, services and technologies," he added.

According to him, the implementation of large-scale economic projects within the framework of the SCO is called upon to become a kind of growth driver in the space of the Organization.

"SCO is faced with the task of ensuring proper financing of its project activities. For this, states have all the necessary economic mechanisms, strategies, detailed programs and plans for interaction have been developed. All that remains is to implement them," Tokayev pointed out.