Opinions & Interviews

Experts explain benefits of SCO participation for Belarus

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MINSK, 30 August (BelTA) - Industrial cooperation, product supplies, and joint project financing - experts discussed on STV what issues on the SCO summit agenda in Kyrgyzstan could be beneficial for Belarus, BelTA has learned.

The SCO summit in Bishkek is set to consider documents on security, information cooperation, artificial intelligence, transport, energy, and climate. Leaders from 20 countries are expected to attend.

House of Representatives member Oleg Dyachenko spoke about the benefits Belarus gains from SCO membership. “For our country, joining the SCO as a full member is of significant interest. At the economic level, we have the opportunity to closely cooperate within the SCO’s economic space, supplying our goods and agricultural products. Today, the issue of developing industrial cooperation is also being addressed,” he said.

Among the common issues on the summit agenda are the creation of a development bank and an independent payment system. “The issue of expanding the use of national currencies in international settlements is still being actively discussed. That is one aspect. The second is financing joint cooperative projects. This includes concessional lending, local or joint subsidies, the creation of joint special economic zones and industrial parks. Looking ahead, the creation of an international development bank within the SCO is planned, a fund that could finance joint projects,” explained Yekaterina Tavgen, senior researcher at the Center for World Economy of the Institute of Economics of the National Academy of Sciences of Belarus.

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