The Shanghai Cooperation Organization (SCO) is the first intergovernmental organization initiated by the Chinese mainland. Since its establishment 23 years ago, the SCO has emerged as one of the most influential international organizations globally. As of June 2024, the SCO consists of nine member states, three observer states, and 14 dialogue partners. During the 24th Meeting of the Council of Heads of State, Belarus officially became the 10th member state. Covering about three-fifths of the Eurasian continent, the SCO member states represent approximately half of the world's population, making it the largest and most populous comprehensive regional cooperative organization worldwide.
Economic cooperation has always been a cornerstone of SCO collaboration. Since its inception, the member states have actively integrated into global trade cooperation. Despite fluctuations in trade value in some years due to global economic conditions, the overall trend has been one of steady growth.
"The Report on Trade Development over 20 Years since the Establishment of the Shanghai Cooperation Organisation (SCO)", released in 2022, reveals that the total trade value of SCO member states surged from $667.09 billion in 2001 to $6.06 trillion in 2020, marking nearly a 10-fold increase over two decades. SCO's share of global trade value expanded from 5.4 percent in 2001 to 17.5 percent in 2020, highlighting the growing influence of SCO member states in global trade.
Central Asia remains the traditional geographical focus of the SCO. The Chinese mainland's cooperation with the five Central Asian countries has been deepening, with trade volumes experiencing rapid growth. The Chinese mainland is now the top trading partner and a major source of investment for these countries. Data indicates that the Chinese mainland's trade volume with the five Central Asian countries reached $89.4 billion in 2023, reflecting a 27 percent year-on-year increase and setting a new record high.
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SCO plays active role in economic recovery of member countries
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