Belarus, China confirm willingness to cooperate in finance

MINSK, 31 March (BelTA) – Belarus’ Deputy Finance Minister Pavel Lemekh met with Chang Junhong, Director General of the Department of International Economic and Financial Cooperation at China’s Finance Ministry, in Beijing on 31 March, the Belarusian foreign mission in Beijing told BelTA.

The parties discussed a wide range of issues related to bilateral cooperation. Pavel Lemekh reaffirmed Belarus’ consistent support for China’s efforts to establish the Shanghai Cooperation Organization Development Bank. The Chinese side expressed its readiness for cooperation between the two countries’ ministries to ensure the effective implementation of a broad range of projects for the benefit of both states. Diplomats of the Embassy of Belarus in the People’s Republic of China also took part in the meeting.

A day earlier, on 30 March, the Belarusian side participated in the first meeting of SCO member states  to discuss the establishment of the organization’s Development Bank. Attending the event in Beijing were representatives of SCO member states, dialogue partners, and observers. The Belarusian delegation was headed by Pavel Lemekh. Participants exchanged views on this Chinese initiative. The meeting emphasized the importance and necessity of creating a bank that would contribute to the successful development of the Shanghai Cooperation Organization. Pavel Lemekh presented Belarus’ constructive proposals regarding the concept of the SCO Development Bank, aimed at ensuring equal and fair participation of all parties in the bank’s activities.

Belarus became a full member of the SCO in July 2024. On 1 September 2025, in Tianjin, China, the heads of state approved the SCO Development Strategy until 2035 and a package of other documents following the organization’s 25th anniversary summit. Belarusian President Aleksandr Lukashenko also signed the summit’s decisions. The strategy defines the SCO’s goals and objectives, as well as the methods for achieving them through 2035. Based on the organization’s principles and values, the strategy outlines tasks related to strengthening mutual trust and good-neighborliness among member states, jointly countering security challenges and threats within the SCO space, and deepening practical cooperation in trade, economy, finance, investment, and other areas. 

Belarus views the SCO as a regional organization that contributes to building a multipolar, fair, and stable world order based on universally recognized principles of international law, and as an organization with strong potential for expanding mutually beneficial trade, economic, and investment cooperation, as well as cultural and humanitarian ties. The Belarusian president has approved a national strategy for the country’s participation in the SCO. The strategy defines the conceptual directions, goals, and objectives of Belarus’ involvement in the organization, along with mechanisms for their implementation in the near and medium term. Belarus’ participation in the SCO is aligned with its foreign policy and foreign economic interests.