Deals for 20 projects worth a total of 66.8 billion yuan ($10.3 billion) are signed both online and offline during the opening ceremony of 2021 SCO International Investment and Trade Expo in Qingdao, Shandong province on April 26. [Photo provided to chinadaily.com.cn]

China's foreign trade with Shanghai Cooperation Organization member countries saw a substantial growth of 15 percent year-on-year to $244.85 billion in 2020, according to Customs spokesman Li Kuiwen at a SCO event in Qingdao, Shandong province on April 26.

The 2021 SCO International Investment and Trade Expo will run for three days and will include an opening ceremony, an SCO Qingdao forum on local economic and trade cooperation, an exhibition, and a series of trade forums.

During the opening ceremony, deals for 20 projects worth a total of 66.8 billion yuan ($10.3 billion) were signed both online and offline. The projects involve industries such as trade and logistics, new energy, high-end manufacturing, cultural tourism, and biomedicine.

In addition, two official liaison offices were launched to better promote cooperation between enterprises from SCO member countries.

A joint initiative on promoting SCO regional economic and trade cooperation was launched at the SCO Qingdao forum on local economic and trade cooperation.

The initiative states that since the establishment of the SCO, SCO countries have maintained close communication and cooperation and made great progress in counter-terrorism, security, economic development, and cultural integration.

It encourages members to deepen regional economic and trade cooperation, unblock major international logistics channels, promote investment and trade facilitation, and contribute to the promotion of local cooperation and the development of SCO.

The expo attracts 442 enterprises to display their products at the offline exhibition. [Photo provided to chinadaily.com.cn]

The expo attracted 442 enterprises to display their products at the offline exhibition. There was also an online edition where over 1,400 enterprises sought business opportunities year-round.

The SCO is an intergovernmental international organization established in 2001 by China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, and Uzbekistan. India and Pakistan joined as full members in 2017.