OREANDA-NEWS  The most beneficial thing for the Shanghai Cooperation Organization (SCO) is the simplification of customs procedures between the participating countries, the promotion of e-commerce and transport links, the organization's Secretary General Nurlan Yermekbayev told RIA Novosti.

"In the current reality, it seems more promising to focus the organization's efforts on simplifying trade and customs procedures, stimulating e-commerce and transport connectivity, and creating favorable regimes for joint investment activities, business contacts and tourist flows," he told RIA Novosti.

As the Secretary General noted, one of the fundamental goals of the organization is "to create conditions for a gradual transition to the free movement of goods, capital and services." At the same time, Yermekbayev stressed that today the SCO does not aim at economic integration "in its classical sense, including through the creation of a full-fledged free trade zone."

Yermekbayev also drew attention to the widespread opinion among the SCO countries and experts that the development of the organization is hindered by the lack of its own financing mechanisms for project activities. According to him, the idea of creating the SCO development bank has been discussed for a long time.

"This is a time-consuming process that requires close political coordination and planning, careful development of a legal framework and regulatory system, consideration of the needs of the parties and the development of the situation in global financial markets. So far, I can only state with a certain degree of optimism that during the current Chinese presidency of our organization, experts from the member states have noticeably intensified negotiations to develop a mutually acceptable formula," he said.