SCO trade facilitation group convenes in Astana to strengthen regional cooperation and business opportunities
The Special Working Group on Trade Facilitation of the Shanghai Cooperation Organization (SCO) met on April 30 in Astana, chaired by the Republic of Kazakhstan. The event was attended by high-ranking delegates from the SCO member nations' trade ministries and departments. According to the Ministry of Trade and Integration, the meeting was scheduled to discuss topics of cooperation in trade facilitation, with the goal of strengthening regional cooperation and generating advantageous business circumstances, Kazinform News Agency correspondent reports.
In her welcoming speech, Janel Kushukova, Vice Minister of Trade and Integration of the Republic of Kazakhstan, underlined the importance of collaborative efforts to simplify trade procedures in order to build the region's economy and provide pleasant business conditions.
At the meeting, the heads of delegations gave information on the current level of trade facilitation in SCO member countries and discussed future actions in this area. As part of the event, the Ministry of Trade and Integration of the Republic of Kazakhstan and QazTrade presented Kazakhstan's National Report on Trade Facilitation, which was developed in 2023 and reflects development in this field since Kazakhstan joined the World Trade Organization (WTO).
During the meeting, thematic sessions on trade and logistics relations were held, including an examination of the Trans-Caspian International Transport Route, and steps to ensure the smooth operation of markets in SCO member countries were considered. ATITR representative recently informed Kazinform about the work of the Middle Corridor and future intentions for its improvement.
Kazakhstan’s trade turnover with the SCO countries in 2023 amounted to $66.0 billion, which is 6.8% more than in the previous year. Over the past 5 years, mutual trade between the SCO countries has increased by 1.5 times, reaching $490 billion in 2023. The main trading partners in the region are China and Russia. Kazakhstan's share in this exchange was 3.3%.
