The Shanghai Cooperation Organization Business Council was established on June 14, 2006 in Shanghai. The Constituent Session of the Business Council was attended by the representatives of the Council national parts from the Republic of Kazakhstan, People’s Republic of China, Republic of Kyrgyzstan, Russian Federation, Republic of Tajikistan and Republic of Uzbekistan. The Session approved documents regulating the activities of the Council and its standing body, Secretariat, to be located in Moscow. An important aspect of the BC activities is the harmonization of national economic laws. In this sphere, it is expected that the BC will prepare necessary guidelines and recommendations including new draft laws to be proposed for examination. Such work conforms to the approaches that were expressed at the First Meeting of the SCO Heads of Parliament in Moscow on May 30, 2006.