Small businesses of SCO and BRICS gather for a forum in Ufa

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BISHKEK (TCA) — On December 1-2, Ufa (Russia) hosted the Second Small Business Forum of the SCO and BRICS Regions. The participants were the Russian regions, the leading SMEs of the SCO and BRICS member states, and young entrepreneurs.

The forum discussed prospects of increasing the non-resources export, development of agriculture and franchising, support of young entrepreneurship. The participants also estimated the role of small business in innovative, knowledge-intensive, and import substituting industries.

The forum participants adopted a resolution recommending measures for small business support in the coming year, Sputnik news agency reported.  

One of the forum’s moderators, ex-Prime Minister of Kyrgyzstan Joomart Otorbayev told a news conference in Ufa that these recommendations will be submitted to both the governments of the SCO and BRICS member countries and to two banks created for funding joint business projects in those countries — New Development Bank BRICS and SCO Development Bank.    

The first such forum took place in October 2015 to become an efficient integration platform for cooperation between business and regional authorities of the SCO and BRICS states. It brought together over 1,500 delegates from 18 countries and 46 Russian regions.

The forum delegates believed that at the first stage it was important to simplify the foreign economic activity, decrease the amount of paperwork, and remove excessive regulation of the international trade.

The Shanghai Cooperation Organizations (SCO) member states are Russia, China, Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan.

BRICS is an association of five major emerging national economies: Brazil, Russia, India, China and South Africa.

Sergey Kwan

TCA