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Commodity turnover of SCO member states can exceed $70 billion - MFA

Astana. May 20. Kazakhstan Today - Commodity turnover of SCO member states in the nearest years can exceed $70 billion. Vice Minister of Foreign Affairs of Kazakhstan Nurlan Ermekbayev stated during round table on SCO - modern model of regional cooperation on Monday, the agency reports. "In 2007 commodity turnover of the countries of the organization exceeded $50 billion and in the nearest years it can exceed $70 billion," N. Ermekbayev informed. He noted that "these parameters indicate much potential of economic cooperation within SCO, in particular, in the sphere of agriculture, mechanical engineering, oil-and-gas industry and high technologies." Vice Minister emphasized that "the medium term goal of economic cooperation of SCO member countries consists in maintenance of complex economic development, use the principle of complementarity of economy of the countries of the organization, establishment of closer economic relations, and possible creation of the free trade regional zone in the long term. "SCO has expanded its frameworks of activity beginning from safety issues to trade and economic cooperation. This is the logic of development of the Shanghai system," N. Ermekbayev concluded.

Resourse: Kazakhstan Today

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