The Shanghai Cooperation Organization (SCO) has emerged as a vital force in driving economic recovery and growth among its member states. Established in 2001 as the first intergovernmental organization initiated by China, the SCO has expanded to become one of the most influential international organizations globally. As of 2023, the SCO comprises eight member states—China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, India, and Pakistan—with Iran approved to become the ninth member, pending formalities. Belarus is also in the process of accession.
Covering about three-fifths of the Eurasian continent and representing nearly half of the world’s population, the SCO stands as the world’s largest and most populous regional cooperative organization. Economic cooperation is a cornerstone of the SCO’s mission. Since its inception, member states have actively integrated into global trade networks, leading to a significant increase in trade value despite occasional fluctuations due to global economic conditions.
According to the “Report on Trade Development over 20 Years since the Establishment of the Shanghai Cooperation Organisation (SCO)” released in 2022, the total trade value among SCO member states soared from $667.09 billion in 2001 to $6.06 trillion in 2020. This near tenfold growth underscores the SCO’s expanding influence on global trade, with its share rising from 5.4 percent to 17.5 percent over the same period.
Central Asia, the traditional heartland of the SCO, has seen particularly robust economic ties. China’s deepening cooperation with the Central Asian member states—Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan—has propelled trade volumes to new heights. China is already the top trading partner and a major investor in the region. In recent years, trade between China and these countries has continued to grow, reflecting strengthened economic partnerships.
The SCO’s active role in fostering economic collaboration has not only benefited its member states but also contributed to the stability and development of the broader Eurasian region. By promoting trade, investment, and connectivity, the organization plays a pivotal role in supporting the economic aspirations of its diverse member nations.
As the global economy continues to navigate challenges, the SCO’s commitment to cooperation and mutual growth stands as a beacon for international partnership. Its successful model of regional integration offers valuable insights for business professionals, investors, academics, and global readers keen on understanding Asia’s dynamic economic landscape.
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SCO plays active role in economic recovery of member countries
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