SCO secretary-general calls for closer cooperation on digital economy

The Secretary-General of the Shanghai Cooperation Organization (SCO), Vladimir Norov, emphasized the importance of jointly developing the digital economy to curtail the blow being inflicted on society by the COVID-19 pandemic. 

He made the remarks in an exclusive interview with China.org.cn on the sidelines of the 12th China Overseas Investment Fair held on Wednesday in Beijing. 

"The pandemic has made it clear that digitalization and ICTs are essential for the efficient functioning of the economy and society as a whole," Norov said, adding that "the modern world is on the threshold of unprecedented and revolutionary technological changes."

He continued: "At the same time, the process of digitalization with large-scale transformations in the economic sphere moves the 'pole' of the world economy to the East. Today, a growing number of experts agree that, in the coming decades, the Eurasian macro-region will become the locomotive of the world economy."

Norov pointed out that the SCO region, covering 60 percent of the Eurasian geographical area and representing almost half of the world's population, is a huge market for implementing joint innovative projects in the field of information technology and the digital economy. 

That's why a relevant statement covering this development was adopted at the 20th meeting of the Council of Heads of State of the SCO on Nov. 10, he added. 

According to the statement, strengthening practical cooperation to promote a digital economy would be conducive to enhancing the technological competitiveness of SCO member states and enhancing economic and social well-being. 

"We are willing to extensively exchange experience and best practices within the field of digital economy under the leadership of the United Nations. We believe that strengthening digital connectivity, creating new cooperation to simulate growth, and enhancing investment attractiveness," the statement declared. 

Norov said the recent SCO summit, the first organized online, was held in a constructive atmosphere, confirming the relevance of the SCO as an effective platform for developing collective measures to overcome the epidemiological, political and social-economic consequences of the pandemic. 

Regarding overall SCO cooperation, the secretary-general said that, despite the negative impact of the pandemic, SCO member countries were continuously expanding cooperation in wide-ranging areas including trade and investment, energy, agriculture, and infrastructure development. 

"We are actively working to create a favorable financial market, simplify tax and customs procedures, unify banking systems, and improve transport and logistics corridors," Norov said. 

As an optimal platform for linking national development strategies, cross-border projects and multilateral integration initiatives, the SCO is playing an increasingly important role in helping ensure sustainable growth of participating countries' economies and creating new cooperation chains, he said. 

The investment fair was hosted by the China Overseas Development Association. With the theme of "Concentrating [on the] Post Epidemic Era, Constructing New Development Paradigm", the event brought together more than 800 government officials, representatives of international organizations and business leaders to discuss ways to boost multilateral trade cooperation and global economic recovery. 

Speaking at the opening ceremony, Norov praised the investment fair as an important international platform for promoting cooperation between Chinese and foreign enterprises, searching for investment projects and business partnerships, as well as discussing bilateral and multilateral cooperation opportunities.