SCO think tanks held their second annual meeting

SCO think tanks held their second annual meeting

On September 27, 2021, in the format of a video conference, the second meeting of the Consortium of analytical economic centers of the SCO countries was held under the chairmanship of the Kazakh side.

The following members of the Consortium attended the meeting: Regional Trade Center of the Ministry of Trade and Industry of India; World Economy Research Center of the Institute for Economic Research of Kazakhstan; Institute of International Trade and Economic Cooperation, Ministry of Commerce of China; Institute for Economic Policy Research under the Ministry of Economy of Kyrgyzstan; Pakistan Institute for Trade and Development; Institute of International Economics and Finance, National Research University Higher School of Economics of Russia; Institute of Economics and Demography of the National Academy of Sciences of Tajikistan.

SCO Secretary General Vladimir Norov sent his video message to the participants of the Consortium meeting.

Within the framework of the Meeting Program, two sessions were held:

  • Presentation of the research results determined in accordance with the Action Plan of the first meeting of the Consortium, organized in 2020 by the Indian side.
  • Discussion of measures taken in the framework of the fight against COVID-19 by the SCO states in order to restore economies and trade ties.

CERR conducted a study on the development of small business as a factor contributing to poverty reduction.

During the second session, the head of the CERR sector, Mukhsinjon Kholmukhamedov, briefed the meeting participants on the measures taken in Uzbekistan to mitigate the negative impact of the COVID-19 coronavirus pandemic on the economy, including social support for the population.

The rapid growth of the economy in 2021, which in the first half of the year amounted to 6.2% of GDP, testifies to the effectiveness of the proposed recovery measures. The Asian Development Bank's September report predicts that Uzbekistan's economy will grow by 5% in 2021 and 5.5% in 2022 as it continues to boost effective coronavirus vaccination (COVID-19) and industrial, service, investment and private business recovery.

Thus, the measures taken in Uzbekistan at the state level significantly mitigated the negative consequences of the coronavirus pandemic and created conditions for a quick subsequent recovery and economic growth.

In conclusion, M. Kholmukhamedov stressed that the expansion of economic cooperation within the SCO will also contribute the overcoming of the negative consequences of the pandemic on the economies of the SCO countries.

Center for Economic Research and Reforms

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