Why is this important
Uzbekistan is enhancing its role in shaping the economic agenda of the SCO. The proposed initiatives aim to deepen cooperation and establish a unified investment and logistics space.
What happened
- Mirziyoyev suggested signing an agreement to simplify trade procedures in order to boost intra-regional trade turnover.
Uzbekistan’s initiatives within the SCO framework:
- regional center for critical materials,
- Energy Consortium for the Development of “Green” Energy,
- network of venture funds for startups,
- electronic portal for investments and business contacts.
The President of Uzbekistan also called for faster implementation of measures to finance industrial and infrastructure projects. The importance of unlocking transport potential along the North-South and East-West routes, including access through Central Asia to the ports of the Persian Gulf and the Indian Ocean, was stressed.
Mirziyoyev proposed the concept of a “SCO Single Transport Area” alongside China’s “Belt and Road” initiative. Additional areas include: “green” transformation, climate adaptation, AI for ecology, “Tourism Corridor”, and the SCO Medical Tourism Alliance.
What they say
Shavkat Mirziyoyev, President of Uzbekistan:
We see excellent opportunities for coordinating efforts to establish the SCO’s Unified Transport Area and linking it with the Belt and Road Initiative.
Context
The SCO brings together the largest economies of Eurasia — China, India, Russia, and the Central Asian countries. Economic integration within the organisation is gaining momentum amid global turbulence and the reorientation of trade flows.
