Russia’s Ministry of Finance publishes Mishustin’s call for closer Shanghai Cooperation Organisation trade and investment ties

Russia’s Ministry of Finance published remarks by Prime Minister Mikhail Mishustin calling for deeper trade, investment and financial cooperation among Shanghai Cooperation Organisation (SCO) members. Speaking at the SCO Council of Heads of Government meeting, Mishustin outlined priorities for simplifying trade procedures, expanding joint production and encouraging mutual investment. An action plan for the organisation’s multilateral trade and economic cooperation programme was due for approval at the meeting. Russia’s trade with SCO countries exceeded RUB 30 trillion in 2025 and increased by a further 18% in the first half of 2026. Most transactions are now conducted in national currencies, compared with half of payments five years earlier. Mishustin called for greater participation by the SCO Business Council, Interbank Consortium and Forum of Heads of Regions in economic cooperation, alongside efforts to increase the share of goods with high added value. On investment, Mishustin highlighted existing Russian support arrangements, including special economic zones offering tax incentives and other benefits, and investment protection and promotion agreements under which more than 70 major projects are being implemented. He also proposed using the SCO’s existing pool of technology parks to extend Russia’s experience in supporting small technology businesses across the organisation. Russia has more than 7,000 such companies, whose combined revenue exceeded RUB 1 trillion in 2025.