It is reported that China and other member countries of the Shanghai Cooperation Organization (SCO) have achieved positive results in implementing the Belt and Road Initiative, including closer trade ties, stronger mutual investment and increasing joint projects.
SCO member countries have been key areas to the implementation of the Belt and Road Initiative, and noticeable progress has been made over the past four years in this course, Zhong said during an interview with major media outlets on the sideline of the SCO Summit held here in Astana, capital of Kazakhstan.
Bilateral trade relations have grown closer between China and other SCO member countries, as trade facilitation has been enhanced, Zhong said, noting that China has become the largest trading partner of Russia and Kyrghyzstan.
Mutual investment has been growing steadily, with China's non-financial direct investment in other SCO member countries as of April 2017 amounting to $74.2 billion and investment in the reverse direction totaling $1.09 billion, according to Zhong.
Speaking of the SCO's prospects in development after the accession of India and Pakistan, Zhong said the expanded "friends circle" of the organization will further enhance its economic strength, improve its international and regional influence, contribute to building a new pattern in connectivity and bring greater potential and impetus in regional economic cooperation.
Noting that China will take over the rotating presidency of the SCO after this summit and host the next summit in June 2018, Zhong said the Chinese Ministry of Commerce will play a full role in coordinating meetings of the SCO economic and trade ministers and implementing outcomes in the economic and trade areas reached in this summit. (Source: China Daily)
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