Tashkent, Uzbekistan (UzDaily.com) -- The Samarkand summit ended the chairmanship of Uzbekistan in the SCO in 2021-2022. It was aimed at the comprehensive development of cooperation within the Organization and the further enhancement of its potential and international prestige.

Uzbekistan has traditionally strengthened the emphasis on the economic component of the SCO, promoting new initiatives in the development of domestic trade, transport and infrastructure cooperation, industrial innovation and cooperation.

In 2021, trade with the SCO countries grew by 24% to US$21.2 billion, exports grew by 29% to US$7.2 billion and imports grew by 21% to US$13.9 billion.

Of particular relevance in this context is the initiative put forward by the President of the Republic of Uzbekistan to hold on an annual basis the “Great SCO Trade Fair” with the creation of a single electronic platform on its basis.

According to experts, the significance of this initiative is greater than ever right now, when the SCO member states are going through a difficult period of rehabilitation of their national economies from the consequences of the coronavirus pandemic.

The positions and approaches of Uzbekistan in relation to the priorities and prospects of the SCO have always been unambiguous and clear.

Official Tashkent consistently supports the non-bloc status of this Organization and considers it expedient to focus on the economic direction in its activities.

Thus, over the past 5 years, the trade turnover of Uzbekistan with the SCO countries has grown by 1.7 times, exports by 1.2 times, imports by 2 times. At the same time, the share of trade with the SCO countries in the total foreign trade turnover of the country also increased from 47.2% to 50.2%.

The largest shares of Uzbekistan’s trade turnover within the volume of domestic trade with the SCO countries fall on Russia - 35.7% and China - 35.2%, as well as Kazakhstan - 18.5% and Kyrgyzstan - 4.5%.

Expert and analytical circles are unanimous in their opinion that in order to further increase trade and economic cooperation among the SCO member countries, it is necessary to introduce modern information technologies throughout the entire SCO territory.

From this point of view, the proposal of the President of Uzbekistan Shavkat Mirziyoyev to create a single electronic trading platform of the SCO is very timely.

The introduction of this mechanism will contribute to: 1) further development of trade and economic relations; 2) attracting foreign investment in national economies; 3) consolidation of efforts of business circles; 4) introduction of modern mechanisms of paperless trade; 5) improvement of transport and logistics routes.

The SCO is entering a new, even more important stage in its development as a dynamically developing international organization in the international arena. In this regard, the initiatives voiced by the head of Uzbekistan should be considered as one of the active links in the development of the trade and economic potential of the SCO space.

Zakir Abdullayev,

Head of  Department at

Institute for Strategic and interregional studies

under the President of the Republic of Uzbekistan