On May 16, Bukhara hosted a meeting of experts and coordinators of the Interbank Association of the Shanghai Cooperation Organization under the chairmanship of the JSC National Bank for Foreign Economic Activity of the Republic of Uzbekistan within the framework of the chairmanship of Uzbekistan in the SCO in 2021-2022.

The event was attended by leading development institutions of the SCO member states – India, Kazakhstan, Kyrgyzstan, China, Pakistan, Russia, Tajikistan.

The SCO Secretariat Advisor M.S. Rakhanova and a representative of the Ministry of Foreign Affairs of Uzbekistan took part in the event as honorary guests.

The main initiative of the National Bank’s chairmanship is aimed at stimulating the growth of mutual trade turnover and investment cooperation between the SCO countries, the development of industrial cooperation, financing of infrastructure projects and further practical implementation of the SCO Multilateral Trade and Economic Cooperation Program for 2021-2025.

The member banks of the Interbank Association noted the importance and timeliness of the initiated documents of the Uzbek side, including emphasizing that the above documents are constructive in accordance with the current new situation in the region and will contribute to attracting investment, cyclical development of the SCO regional economies, strengthening pragmatic financial cooperation within the framework of the Belt and Road initiative and implementation of new projects in the innovative technologies, digital economy, construction of industrial parks, medicine and healthcare, energy and agriculture.

The developed documents will serve as an innovative solution for the economic development of the region of the SCO member states, including the successful implementation of infrastructure projects of the member banks of the Interbank Association.

Following the event, the parties approved the above-mentioned initiatives of the National Bank and approved the protocol of the Meeting of Experts and Coordinators of the SCO Interbank Association, according to which the XVIII meeting of the Council of the SCO Interbank Association will be held in September this year in Samarkand, traditionally on the eve of the meeting of the SCO Council of Heads of State.

UzA