On June 21, 2022 an expert meeting of the SCO Consortium of Economic Analytical Centers was held in the form of a video conference chaired by the Chinese side.
In addition to the staff of the Institute of Economic Research JSC (Kazakhstan) the event was attended by representatives of the Regional Trade Center (India), Institute of Economic Policy Research under the Ministry of Economy and Finance of Kyrgyzstan, Institute of International Trade and Economic Cooperation of the Ministry of Commerce of the PRC, Pakistan Institute of Trade and Development (PITAD), All-Russian Academy of Foreign Trade (RAFT) of the Ministry of Economic Development of Russia, Institute of Economics and Demography of the National Academy of Sciences
During the meeting, in accordance with the work plan for 2022, the draft report on "Economic Cooperation within the SCO: Challenges and Prospects" was discussed.
As a result of joint analysis of global and regional macro-trends of economic development after the COVID-19 pandemic the following conclusions are highlighted by the parties:
- Increasing sanctions pressure contrary to the equal multilateral international economic order;
- Disruption of pre-existing production cooperation and supply chains;
- Increasing demand for mutual settlements in national currencies;
- Increasing risks to food and energy security;
- Asynchrony of digital development of different countries;
- Increasing risk of growing poverty of the population.
The final report will be presented this September during the Consortium's annual webinar prior to the upcoming SCO Heads of State Council in Samarkand, Uzbekistan.
For reference: The SCO Consortium is a consultative and expert platform created to conduct analysis on priority areas of economic interaction within the SCO and to develop recommendations. The SCO Council of Heads of Government (Prime Ministers) of SCO Member States Decision No. "120" of November 2, 2019 approved the Regulations of the SCO Consortium of Economic Analytical Centers.
