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By Yawar Abbas
ISLAMABAD, Aug 31 (APP): The Shanghai Cooperation Organization (SCO) Summit in Tianjin, being hosted by China as the organization’s rotating president, is poised to unlock the group’s vast potential for inclusivity and shared prosperity, expert said on Sunday.
Highlighting the SCO’s evolving role, Yuan Sha, Deputy Director at the Department for Global Governance and International Organization Studies at the China Institute of International Studies, China said the organization exemplifies how multilateralism can deliver tangible benefits through an inclusive and pragmatic approach.
“The SCO continues to build not only a platform for cooperation but also a common home of stability, prosperity, and development for the Eurasian region and beyond,” said Yuan Sha, who is also a special commentator on current affairs for CGTN while quoting his article on SCO’s importance.
Founded in 2001 with a mission to enhance regional security, the SCO has significantly broadened its agenda to include economic cooperation, reflecting the link between stability and prosperity, he added.
Yuan said, “Today, the SCO stands as the world’s largest regional organization in terms of geography and population, with vast markets, abundant resources, and immense growth potential.” It has emerged as a key driver of regional and global development.
He said expanding trade and investment mechanisms such as the SCO Business Council and Interbank Consortium have been established to boost cross-border commerce and financial cooperation.
According to him, in 2024, trade volume between China and SCO member states, observer states, and dialogue partners hit a record $890 billion — accounting for 14.4 percent of China’s total trade.
He said connectivity and energy security infrastructure projects, including the China-Central Asia-West Asia Economic Corridor and the China-Kyrgyzstan-Uzbekistan Railway, have reduced barriers and shortened transport times.
He added energy cooperation through projects like the China-Central Asia Gas Pipeline further underpins regional stability.
He said in a recent milestone, SCO members signed an MoU to construct “Silk Road Stations” to address infrastructure gaps along trade routes.
He said that the SCO has aligned regional development strategies, complementing China’s Belt and Road Initiative with national programs such as Kazakhstan’s Bright Road Initiative and Tajikistan’s National Development Strategy.
He said that green growth and digital transformation have become new priorities. “By the end of 2024, renewable energy capacity in SCO states reached 2.31 billion kW, nearly half of the global total.”
The SCO Green Development Forum has provided a platform to advance this agenda, he added.
He said that on the digital front, cross-border e-commerce between China and SCO states surged 34 percent in 2024. The recently adopted Action Plan for Digital Transformation is expected to strengthen cooperation in artificial intelligence, smart infrastructure, and e-commerce.
Looking ahead, Yuan emphasized the need to strengthen SCO’s institutional mechanisms across five areas including policy, infrastructure, trade, finance, and people-to-people ties. Such efforts, he said, will help member states align their strengths, deepen mutual trust, and create a resilient framework for future cooperation.