The idea of establishing an SCO Business Council was first proposed by the Russian prime minister at the first meeting of SCO member states' prime ministers in 2001 in Alma-Ata. All members subsequently supported the initiative.
It was decided that SCO Business Council would be organised by national chapters, which would in turn work with chambers of commerce, business associations, as well as state-owned and private companies.
At a meeting in September 2004 in Moscow, ministers of SCO member states responsible for foreign economic activities decided to set up an expert working group to draft proposals for the creation of SCO Business Council, which would function as a non-governmental forum for business leaders from SCO member states. On September 23, 2004 in Bishkek, the Council of Heads Of Government of SCO member states approved the decision (Resolution No. 12).
According to aforementioned resolutions, the Expert Working Group (EWG) for the SCO Business Council was formed. It held sessions in Beijing in December 2004 and March 2005, and in Moscow in June 2005 and October 2005.
The structure of the national branches of SCO Business Council was set up concurrently. Dmitry Mezentsev, governor of Irkutsk Region and former Vice Chairman of the Federation Council of the Federal Assembly, heads the Russian National Branch. According to an executive order issued by the Russian government, Mezentsev is the authorised representative for SCO Business Council issues. The Russian National Branch includes also the Russian Chamber of Commerce and Industry, the Russian Union of Industrialists and Entrepreneurs (employers), RAO UES, Gazprom, Aeroflot, etc.
The first board meeting of the SCO Business Council (hereinafter - the Board) was held on October 25, 2005 in Moscow. It was agreed that the Secretariat of the Business Council would be based in Moscow.
The Business Council's inaugural session was held in Shanghai on June 14 and 15, 2006, as part of the SCO summit marking the fifth anniversary since the date the SCO Charter was signed. Russian representative Mezentsev was elected chairman of Business Council for 2006 to 2009.
The heads of the Business Council's national branches subsequently had several meeting in which they considered ideas for the organization's future work.
As a part of the SCO, the Business Council encourages cooperation in public health services, migration, and other joint projects. Council members continue to develop new avenues and forms for partnership.
The Business Council, together with a number of the large Russian and international companies and banks, is currently working on issues concerning the movement of migrant workers between SCO countries. The "Blue Card" project involves setting up databases to document migrant workers, as well as their insurance and bank accounts.