The Secretary-General of the Shanghai Cooperation Organization (SCO) said the Belt and Road Initiative (BRI) corresponds to the spirit and goals of his organization.

Vladimir Norov, the Secretary-General of the Shanghai Cooperation Organization (Photo: People's Daily Online/Zhang Guangzheng)

At a press conference on Wednesday in Beijing, Vladimir Norov said, "The mega-project Belt and Road Initiative (BRI) involves mutually beneficial cooperation, deepening mutual trust and desire for joint development. All this corresponds to the SCO spirit and its goals, objectives and principles."

Norov believes that the role of SCO is significant for the successful construction of BRI, in terms of the geopolitical and geo-economic position of SCO countries. The SCO is the guarantor of peace and stability in its area of responsibility, without which it is impossible to ensure sustainable development and prosperity of the peoples of the region, he added.

In May 2015, Chinese President Xi Jinping and Russian President Vladimir Putin signed an agreement on the pairing of the SREB with the Eurasian Economic Union (EAEU). The agreement noted that the SCO will be the main platform for issues to be discussed.

"On the one hand, this will enable Russia and other members of the EAEU to create a huge transit area for cargo from Europe to Asia, to expand the markets for their products in China and other Asian countries," Norov said, citing experts. "On the other hand, China will have more opportunities to expand its markets, as well as access to raw materials."

(Compiled by Xu Zheqi)