Uzbekistan, Tashkent, June 7 / Trend D. Azizov /
The Shanghai Cooperation Organisation (SCO) has announced plans to set up a Development Bank division of the organisation to increase funding for national programmes and multilateral projects of the participants of the organisations.
It would also help prevent a financial crisis by using joint action and would help shape the international financial system, the Uzbek official media said today, Chinese deputy foreign minister Chen Gopin said at a meeting of the SCO Business Council.
He said that China is ready for continuous investment in the special account of the organisation and the SCO Development Bank in the next 10 years. It will continue delivering preferential loans and assistance to member states of the organisation.
The Uzbek delegation was headed by Uzbek first deputy prime minister and finance minister Rustam Azimov at a meeting of the SCO Business Council.
The participants of the meeting discussed the implementation of the SCO Business Council projects for the period until 2015. Particular attention was paid to creating a system of logistics terminals in the regions of member countries, observers and partners, introducing innovations and, in particular energy saving technologies.
The issues of using new financial and insurance products to more effectively organise the projects of SCO Business Council were considered.
Rustam Azimov and vice prime minister of the Chinese State Council, Wang Qishan separately discussed plans for the development of Uzbek-Chinese economic cooperation.
During the talks both sides stressed that a joint declaration on the establishment of the strategic partnership between the two countries, signed by the heads of Uzbekistan and China will give a new impetus to cooperation during Uzbek President Islam Karimov's visit to China.
The intergovernmental agreements on technical and economic cooperation, cooperation in the field of veterinary medicine, quarantine and plant protection and a programme of cooperation between the Foreign Ministries in 2012-2015 were also signed following the visit.
Chinese vice Prime Minister Wang Qishan said that pragmatic cooperation between China and Uzbekistan in the field of economy, trade, energy, investments and other fields has laid a solid foundation for the development of bilateral relations.
"Both sides should spare no effort to make every effort to enrich the strategic partnership between the two countries," he said.
Azimov expressed hope for successful implementation of a number of important cooperation projects between the two countries, including the construction project of the Chinese-Kyrgyz-Uzbek railway, as well as projects in the areas of energy and agriculture.
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