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China-SCO pilot zone presented in Minsk
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MINSK, 20 May (BelTA) - The opportunities and advantages of the pilot zone of the China-SCO regional trade and economic cooperation have been presented in Minsk, BelTA has learned.
The China-SCO pilot zone is located in the city of Qingdao in eastern China and is positioned as a new platform for international cooperation within the Belt and Road initiative. It enables participants to significantly expand cooperation in international logistics, trade, investment, business tourism and cultural relations thanks to its favorable geographical location and developed infrastructure. The China-SCO pilot zone is at the center of an integrated transportation network of sea, land, air and rail links. Zhang Xinzhu, Secretary of the Party Working Committee of the SCO-China Pilot Zone, showcased the wide opportunities and advantages of the platform, including cross-border e-commerce, legal advice and information exchange, at the presentation in Minsk. He emphasized the interest in developing cooperation with Belarus and the mutual focus of Belarus and China on strengthening trade and economic ties.
Counselor for Trade and Economic Affairs of the Chinese Embassy in Belarus Wang Ruijuan pointed out that the relations between the two countries are constantly improving and have good dynamics for development in the long term. Bilateral trade has repeatedly reached record highs in recent years. According to Chinese statistics, the trade between China and Belarus amounted to $8.44 billion in 2023, up 67.3% year-on-year. China's exports totaled $5.84 billion and imports from Belarus made up $2.6 billion (up 44.5% year-on-year).
“Thanks to the strong economic complementarity between China and Belarus, bilateral trade shows a trend of diversified and qualitative development,” Wang Ruijuan said. “Chinese-made cars are more often seen on Belarus' roads, and it exports Chinese machinery, mechanical and electrical products. At the same time, the export of Belarusian meat and dairy products, rapeseed oil and other high-quality products to China is growing every year. These products are gaining popularity with Chinese consumers.”
As the Chinese-Belarusian trade and economic cooperation is deepening and becoming more solid, more Chinese companies are deciding to invest in Belarus, the diplomat stated. The China-Belarus Industrial Park Great Stone is a vivid example of effective investment interaction and a landmark project of trade and economic cooperation.
Wang Ruijuan praised the growing role and authority in the international arena of the Shanghai Cooperation Organization, where Belarus is soon to get the status of a full member. She believes that the China-SCO pilot zone will play an important role for Belarus as a bridge to further deepen cooperation with the SCO countries. The advantages of the zone have already been noticed by the Great Stone Park, and its companies are actively establishing interaction with the pilot zone in trade, investment, logistics, and other areas.
According to Mikhail Zhigalo, Deputy Head of Administration of the China-Belarus Industrial Park Great Stone, the China-SCO pilot zone project becomes “an important element in the international chains of production, supply and trade, stimulates trade and economic ties between the two countries.” “Thanks to the support of the leaders of the two countries, a joint intergovernmental project of Belarus and China - the Great Stone Industrial Park - is being implemented in Belarus. This is an example of mutually beneficial partnership. In this regard, for our part, we are interested in active interaction and exchange of experience with the China-SCO pilot zone,” he said.
“The SCO is one of the world's most important regional organizations. The organization's model is aimed at maintaining peace and security, promoting political, trade and economic, scientific, technological and cultural interaction. It is of high importance that the cooperation within the organization is based on the principles of mutual trust, benefit and equality,” Mikhail Zhigalo added.
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