Tashkent, Uzbekistan (UzDaily.com) — The Secretary-General of the Shanghai Cooperation Organization (SCO), Nurlan Yermekbayev, delivered a keynote address at the meeting of the SCO Business Council Board, held in a hybrid format under the chairmanship of China.

The event was organized by the China Council for the Promotion of International Trade and the SCO Business Council Secretariat.

In his speech, the Secretary-General commended the Business Council’s efforts, underscoring its importance as a key mechanism for enhancing business ties among member states. He emphasized that, amid growing global economic instability, the business community should serve as a stabilizing force and a driver of economic growth.

Yermekbayev noted that despite progress in organizing forums, exhibitions, and other events, the SCO's economic potential remains underutilized. He identified the absence of an SCO financial institution and weak mechanisms for stimulating business activity as major limiting factors.

To address these challenges, he called for the revival of practical cooperation under the Agreement on Collaboration between the SCO Business Council and the SCO Interbank Consortium. He proposed drafting a shortlist of two to three potential investment projects for submission to the Council of Heads of Government of the SCO member states. The newly formed SCO Investors Association is expected to be involved in this effort.

The Secretary-General expressed confidence that the role of the business community in shaping the SCO’s economic agenda will continue to grow, paving the way for the implementation of mutually beneficial initiatives aimed at sustainable development and prosperity among member countries.

During the meeting, delegates discussed opportunities for enhanced cooperation in transportation and logistics, energy, support for women’s and youth entrepreneurship, and the development of small and medium-sized enterprises. Participants also exchanged views on the current activities of the Business Council.

At the conclusion of the meeting, the chairmanship of the SCO Business Council Board for 2026 was officially handed over to the Kyrgyz Republic. Participants signed the final protocol.

The meeting took place on the eve of the SCO Business Forum, scheduled for 17 July 2025, in Beijing, with the participation of the SCO Secretary-General.