Stimulating exports by SCO countries in conditions of growing protectionism

Abstract

The article describes the problem of implementing the protectionist policy by the leading developed countries, which imposes the need to revise the directions of trade for the member states of the Shanghai Cooperation Organization (SCO). Such trade directions are presented by the exchange of goods. Recently the exchange of goods has grown by 17%, but its volume is still small. The main problems are both the commodity structure of trade and the infrastructural component, namely, ensuring transport support and unifying customs tariffs. In these conditions, the task is to stimulate exports, find certain ways to expand the competitiveness of national products in the markets of the SCO countries. There has been analyzed the relationship of the member states, shown the need for trade unification and substantiated the proposals for implementing joint measures to develop the exchange of goods, in particular, the possibility of creating a free trade zone, expanding transport corridors to reduce distribution costs and, as a result, increase the competitiveness of goods, it is proposed to carry out settlements in national currencies in order to reduce political, currency and other risks. The problems of development of goods exchange are identified and the main measures to support exports are considered. Special attention is paid to the institutional framework for supporting the export of the leading SCO states-exporters (China, Russia and Kazakhstan). It has been inferred that it is advisable to implement export support measures to expand bilateral trade, and later in a multilateral format in the form of countries joining regional associations, or free trade zones, followed by the creation of a free trade zone to expand mutual trade in an environment of growing protectionism.