The SCO countries account for a third of global GDP, and internal trade within the Organization is approaching $1 trillion. Kazakhstan’s trade turnover with SCO countries amounted to more than $67 billion last year. These figures were cited by Prime Minister Olzhas Bektenov during a joint meeting with the President of Russia in Moscow. The sides discussed trade and economic cooperation among the SCO member states. At the meetings of the Council of Heads of Government of SCO member states, held in both narrow and expanded formats, attention was also given to the development of transit and transport cooperation. Kazakhstan, as one of the key hubs in Eurasia, is rapidly expanding its transit capacities. Five railway corridors pass through the country, and transit volumes through Kazakhstan have nearly doubled in recent years. An important step within industrial cooperation will be the creation of the SCO Development Bank and the introduction of a mechanism to support investment projects. In this area, Kazakhstan is ready to leverage the opportunities of the Astana International Financial Centre. The meeting of the SCO Council of Heads of Government resulted in the signing of a number of documents in the field of multilateral cooperation.
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