YEKATERINBURG, July 7. /TASS/. Russia’s trade volume with the member countries of the Shanghai Cooperation Organization (SCO) increased by 1.5 times from 2022 to 2024, exceeding $400 billion, Russian Industry and Trade Minister Anton Alikhanov said at a meeting of SCO industry ministers at the Innoprom exhibition.
“Russia’s economic ties with SCO member states have also strengthened significantly. For example, the volume of trade with the Shanghai Organization countries increased by 1.5 times from 2022 to 2024, exceeding $400 billion,” he said.
Overall, over the past two years, trade turnover between the SCO countries has increased by 30% and approached $1 trillion. According to the results of last year, the total GDP of the organization’s member countries amounted to $24.6 trillion, which is about a quarter of the world’s GDP. The inflow of direct foreign investment over the past year exceeded $84 billion, the minister added.
The Innoprom-2025 exhibition is underway in Yekaterinburg from July 7 to 10, its main theme is Technological Leadership: Industrial Breakthrough. Saudi Arabia is the partner country of the exhibition. Representatives of Russian business will be able to hold meetings with Russian trade representatives in 37 foreign countries at the contact exchange. TASS is the general information partner.
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