Projects
Services
Government Bodies
Flag Thursday, 21 October 2021
Minsk Clear +11°C
All news
All news
Economy
17 September 2021, 14:57

Eurasian Economic Commission, SCO team up to improve transportation in Eurasia

MOSCOW, 17 September (BelTA) – The Eurasian Economic Commission and the Shanghai Cooperation Organization will jointly work out ways to improve seamless transportation links in Eurasia, the commission's press service told BelTA after Chairman of the Board of the Eurasian Economic Commission Mikhail Myasnikovich met with Secretary General of the Shanghai Cooperation Organization Vladimir Norov in Dushanbe, Tajikistan on 17 September.

The Eurasian Economic Commission press service noted that the Eurasian Economic Union and the Shanghai Cooperation Organization represent the core of the Eurasian continent. Kazakhstan, Kyrgyzstan, and Russia are members of the Eurasian Economic Union and the Shanghai Cooperation Organization at the same time. Belarus is an observer state in the Shanghai Cooperation Organization while Armenia is a dialogue partner. The Eurasian Economic Union has signed a trade and economic agreement with the People's Republic of China. “It ensures mutual connections of our associations,” Mikhail Myasnikovich stated.

Mikhail Myasnikovich and Vladimir Norov noted the need for practical joint work in the spheres of transport, logistics, and technical regulations.

According to Mikhail Myasnikovich, it would be a good idea to pay attention to promising multilateral projects within the framework of interaction of the Eurasian Economic Union and the Shanghai Cooperation Organization. “We have a number of specific initiatives within the framework of cooperation with the People's Republic of China,” he said. “For instance, the development of digital transport corridors, the financing of joint projects by development banks, the Eurasian Aeroexpress project. I believe it is necessary to develop this practice and get other partner countries involved in it, in particular, India.”

Cooperation between the Eurasian Economic Union and the Shanghai Cooperation Organization is reflected in a key Eurasian Economic Union document – the strategic guidelines on advancing Eurasian economic integration in the period till 2025, the press service added.

Trade turnover between the Eurasian Economic Union and the Shanghai Cooperation Organization countries that do not belong to the Eurasian Economic Union rose from $93.8 billion in 2016 to $158.8 billion in 2019. Due to objective reasons it dropped by $8.3 billion in 2020 but it rebounded to $86.6 billion in January-June 2021, 23% up from January-June 2020.

Subscribe to us
Twitter
Recent news from Belarus