**SHOS Board Meeting Stresses the Need for Greater Business Cooperation Amidst Global Economic Instability**
The Secretary-General of the Shanghai Cooperation Organization of States (SHOS), Nurlan Ermekbayev, participated in a hybrid board meeting of the organization’s Board of Directors, chaired by China. The session focused on strengthening partnerships among member states’ business communities in the face of ongoing geo-economic instability, emphasizing that the private sector is essential for fostering growth and addressing transnational challenges.
Organized by the Chinese Committee on International Trade Promotion and the SHOS Business Council Secretariat, the meeting highlighted the council’s effective work to date. Secretary-General Ermekbayev praised the council’s contributions to closer business ties in the region but noted that the SHOS’s potential remains underutilized. He identified two major obstacles: the absence of an internal financing mechanism within SHOS, and a lack of favorable conditions and incentives to encourage stronger engagement from the private sector in the organization’s projects.
To address these issues, Ermekbayev recommended reactivating cooperation between SHOS’s State Department and its Interbank Association, suggesting the preparation of a shortlist of two to three potential investment projects for consideration by the Council of Heads of Government. This initiative aims to leverage the newly established SHOS Investor Association to attract additional resources and expertise, unlocking new opportunities for cross-border collaboration.
Ermekbayev also voiced his confidence that the business sector will play an increasingly important role in driving economic initiatives within the organization, focusing on pragmatic and mutually beneficial projects that advance sustainable growth and prosperity for all member countries.
During the session, representatives from member states proposed new forms of cooperation in diverse fields, including transport and logistics, energy, entrepreneurship among women and youth, as well as the promotion of small and medium-sized businesses. Participants also exchanged views on the current activities of SHOS’s State Department.
The chairmanship of the SHOS Business Council was formally handed over to Kyrgyzstan for the forthcoming year. The meeting closed with the signing of a Final Protocol by all participants.
This gathering was held in anticipation of the SHOS Business Forum, to be hosted in Beijing, where further discussions are expected on expanding economic ties among member countries.
