SCO and BRICS to support small business

SCO and BRICS to support small business

On December 1-2, Ufa 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, the Times of Central Asia reports.

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.