Director of the Center for Global and Strategic Studies of Pakistan Khalid Taymur Akram on the economic potential of the SCO

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Director of the Center for Global and Strategic Studies of Pakistan Khalid Taymur Akram on the economic potential of the SCO 13.05.2020 15:48

 

According to an article by the Director of the Center for Global and Strategic Studies of Pakistan Khalid Taimur Akram on the economic potential of the Shanghai Cooperation Organization, the Organization continues to play an important role as a forum for security cooperation to combat the "three forces of evil": extremism, separatism and terrorism.

The SCO is a regional structure comprising 8 full member states: India, Kazakhstan, China, Kyrgyzstan, Pakistan, Russia, Tajikistan and Uzbekistan. In addition, Afghanistan, Belarus, Iran, and Mongolia are observers, and Azerbaijan, Armenia, Cambodia, Nepal, Turkey, and Sri Lanka are dialogue partners.

The main goal of the Organization remains the strengthening of mutual trust and the development of multifaceted cooperation between its members, as defined in the SCO Charter: "strengthening mutual trust, good neighborliness and friendship between member states; development of effective cooperation in the field of politics, economy, trade, science and technology, culture, education, energy, transport and environmental protection; working together to maintain regional peace, security and stability. "

During the existence of the SCO, many important changes have occurred. Their main thing is the expansion and intensification of activities in the field of economics, energy, culture, science and technology. The SCO creates favorable conditions for economic investment and the implementation of joint projects, to expand trade and economic activity, to achieve the free movement of goods, services and capital.

The SCO serves as a vivid example of this new model of regional partnership, since it has great potential, and the increased enthusiasm of its members for seeking new opportunities stimulates further development. The organization is a practical example of the coexistence of countries completely different in characteristics within a powerful transnational structure.

Numerous design projects have been planned to promote economic prosperity and expand the region’s communication capabilities, including projects to develop transport infrastructure, build roads and railways, and oil and gas pipelines through Central Asia.

The SCO seeks to form a common market and free trade zone in the region with the aim of expanding trade opportunities between the states of the region.

SCO member states oppose trade protectionism and actively support the strengthening of an open multilateral trading system. All members are committed to working in accordance with the principle of mutual benefit to improve regional economic cooperation and deepen the One Belt, One Way initiative.

Analyzing the potential of the SCO member states, we can conclude that the most key areas of cooperation are the development of energy and natural resources, the construction of infrastructure and communication systems to expand communication capabilities, and joint projects in the field of communications, science and technology.

The SCO has created a powerful image of a regional organization, since it has the opportunity to develop as a strong player in the region with enormous economic potential.ф