SCO member states and the BRICS countries will develop small business cooperation strategy

11th November 2015

Leaders of the Shanghai Cooperation Organization (SCO) and BRICS will help small business. They will develop a Strategy of Small Business Cooperation until 2030.

A lot of attention will be paid to a single information space. A catalog of best regional practices of the participating countries and a list of infrastructure projects will be created. The single web portal will be the base for joint projects of entrepreneurs from different countries.

The second step will be the creation of a Fund to support joint investment projects. Part of the Fund’s work will include selection, preparation and support of the most attractive investment projects.

This is stated in the joint resolution approved at the end of the “First Interregional Forum on Small and Medium-sized Business of the SCO and BRICS member states”, which was held in Ufa on 21-23 October 2015.

“To develop and adopt a strategy of small business cooperation of the SCO and the BRICS countries regions until 2030; to unify to the possible extent the provisions of laws relating to small business support and access to the SCO and BRICS markets to the legislation of these organizations”, - the document says.

The resolution included 37 proposals on legislation, foreign trade, finance, education and human resources policy, as well as it contains recommendations for the regional authorities.

As previously noted by the Vice Prime Minister of the Republic of Bashkortostan Dmitry Sharonov, the resolution will be sent to the federal authorities of all countries members of the SCO and BRICS.

To enhance cooperation and experience exchange, the forum participants proposed “to create single information space to support the entrepreneurs in the regions of the SCO and BRICS in the implementation of joint projects, including through the establishment of a specialized Internet portal”. It is also planned to make a catalog of best practices of the regions of these countries, the register of infrastructure projects.

Among the other proposals included in the resolution, - to study the issue of creation of the Fund to support joint investment projects of small business in the regions of the SCO and BRICS. There will be constant work aimed at search, selection and preparation, promotion and support of the most promising joint projects.

In addition, the Forum participants plan to create the International Geophysical Centre of Metrology and Certification of the BRICS in the Ufa-based industrial cluster “Quantum”. This infrastructural division will support small business and ensure the quality of geophysical information on hydrocarbon resources in the BRICS countries, the resolution says.

Source: ТASS


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