Wen: SCO trade is set to double
By Qin Jize (China Daily)
Updated: 2006-09-16 08:41

DUSHANBE, Tajikistan: China has set a goal of doubling its combined trade volume with its partners in the Shanghai Co-operation Organization (SCO) by the end of 2010, Premier Wen Jiabao said on Friday.


Premier Wen Jiabao shakes hands with Tajikistanian counterpart Daniyal Akhmetov in Dushanbe on September 15, 2006. [Xinhua]

Speaking after the fifth annual meeting of prime ministers of the SCO member nations, Wen told reporters that China pledges to increase its turnover with Tajikistan, Kazakhstan, Kyrgyzstan, Uzbekistan and Russia from the current US$40 billion to US$80-100 billion.

Because all the member states had contributed to the promotion of trade and helped facilitate investment, "China will increase its exports while expanding its imports," he said.

The key areas of co-operation among SCO members included energy, transportation, telecommunications and infrastructure construction, the premier said.

China's first block of preferential loans to the other SCO members, totalling US$900 million, became available earlier this year. Using some of that money, Wen said, "a number of key projects have begun operating, and we hope the co-operation will bring tangible benefits to the SCO members."

He commended the projects for inviting public bidding in an open, fair and transparent way, which he called highly commendable.

"My counterparts from other countries have told me that the Chinese engineering and construction teams are being warmly welcomed because of their wonderful performance," Wen said.

He suggested enhancing co-operation with major financial institutions, such as the Asian Development Bank, to study the possibility of joint work on some projects.

Differences in legislation and policy among the member states, poor investment and trade environments and the lack of capital seem to be slowing the economic co-operation of the organization.

At the annual meeting, the heads of the six states also signed a joint statement containing details in the fields of trade and culture to implement the consensus reached by the heads of the states in their June meeting in Shanghai.

Also on Friday, Russian Prime Minister Mikhail Fradkov said in a joint press conference that the SCO has been firmly seeking regional integrity, which is necessary for the development of the organization.

"The areas of co-operation are becoming very extensive, and I have great confidence in its huge potential," he said.

Prime Minister Daniyal Akhmetov of Kazakhstan told reporters that he suggested the next meeting of the SCO prime ministers' council should pay more attention to the urgent problem of energy security, which he called necessary to further link the energy co-operation among the member states.

The six leaders also pointed out that co-operation in the humanities has progressed, promoting dialogue among the various cultures and enhancing mutual understanding and respect.

According to Akhmetov, a meeting for ministers of education from the SCO member states will be held soon to further push forward such co-operation.

Later on Friday, Wen met with his counterparts from Kazakhstan and Tajikistan, plus the observer nations of Pakistan and Iran, on the sidelines of the annual gathering.