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Potential and prerequisites for economic cooperation of the member states of the Shanghai Cooperation Organisation
 
PIIS032150750013622-6-1
DOI10.31857/S032150750013622-6
Publication type Article
Status Published
Authors
Lilia Revenko 
Occupation: Professor, Nikolay Liventsev Department of International Economic Relations and Foreign Economic Ties, Moscow State Institute of International Relations (University) of the MFA of Russia
Affiliation: Moscow State Institute of International Relations (University) of the MFA of Russia
Address: Russian Federation, Moscow
NIkolay Revenko
Occupation: Leading Research Fellow, Institute for Research of International Economic Relations, Financial University
Affiliation: Financial University
Address: Russian Federation, Moscow
Journal nameAsia and Africa Today
EditionIssue 1
Pages15-22
Abstract

The article discusses the main trends of economic cooperation within the Shanghai Cooperation Organisation (SCO). It points out that it is based on the SCO Development Strategy until 2025 and the Program of Multilateral Trade and Economic Cooperation, adopted in 2019. It emphasizes that cooperation in the economic area was a response to the challenges of modern development of international relations at the stage of transition to multipolarity. Its implementation within the SCO largely depends on the external international environment, especially on the aggravation of trade and political contradictions with third countries. The need to increase the global competitiveness has strengthened the centripetal trends of economic cooperation.

Trade and investment, banking and finance, transport and logistics are identified as its main areas in the SCO. The major form of economic cooperation is the implementation of joint international projects based on national interests, primarily in energy, transport, and provision of resources. The geopolitical contour of such projects is mainly in line with the Chinese "Belt and Road" initiative. The attitude to the initiative itself and to investment projects within its framework is ambiguous in individual SCO countries.

Despite different levels of economic development and differences in national interests, the task of accelerating the modernization of national economies by attracting modern technologies and foreign investment, as well as the need to ensure uninterrupted provision of resources, primarily energy ones, knit together the SCO countries. The SCO Member States also expand cooperation on food security, mainly through the exchange of experience in increasing the productivity of the agricultural sector using high technologies. It is concluded that the overall trend of economic cooperation between the SCO countries is the deepening of interaction aimed at joint international projects mainly in the real sector of the economy.

KeywordsShanghai Cooperation Organisation, SCO, economic cooperation, China, India, Kazakhstan, Kyrgyzstan, Pakistan, Russia, Tajikistan, Uzbekistan
Received11.02.2021
Publication date26.02.2021
Number of characters20576
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