TIANJIN, China, September 1. President of Kazakhstan Kassym-Jomart Tokayev has proposed the creation of a Shanghai Cooperation Organization (SCO) Office for the Support of Promising Investment Projects within the Astana International Financial Centre (AIFC), during his speech at the meeting of the Council of Heads of State of SCO member countries, TurkicWorld reports.
In his address, President Tokayev put his cards on the table, proposing to set up the SCO Office at the AIFC to pave the way for promising investment projects and to bring together the heavy hitters in legal, consulting, and financial companies.
He also underscored that the augmentation of trade, economic, and investment synergies is a pivotal component.
In this context, Kazakhstan endorses pragmatic initiatives within the SCO framework that focus on fostering equitable and transparent international trade, while simultaneously rejecting the implementation of coercive measures predicated on sanctions.
"Since the establishment of the SCO, the contribution of our countries to global GDP has doubled, reaching 30 percent. Intra-regional trade has shown impressive growth, exceeding $650 billion by the end of 2024. Kazakhstan’s trade turnover with SCO countries is also steadily increasing, reaching nearly $70 billion last year. Kazakhstan supports China's initiative to create an SCO Development Bank and is ready to participate in the implementation of this promising project," Tokayev added.
