For a long time, the SCO member states have made efforts to deepen multilateral trade and economic cooperation. They adopted the multilateral trade and economic cooperation program and other important documents aimed at promoting business cooperation and identified connectivity, trade, finance, digital economy, and innovation as priorities of multilateral trade and economic cooperation in a new era.

The SCO has created trade, economic, transport, agricultural, financial, and interregional cooperation mechanisms. The rapid growth in trade volumes between SCO member states has brought tangible benefits to their people.

Trade in energy resources constitutes a significant share of trade turnover between SCO member states and observer countries. SCO members carry out extensive cooperation in areas such as energy infrastructure, oil and gas production, transportation of energy resources, and the development of new energy sources. Energy cooperation between them is continuously deepening, expanding, and enriched with new content.

Trade in agricultural products between China and other SCO countries has expanded recently. As of March 2023, 12 categories and 699 types of products of plant and animal origin from other SCO states have gained access to the Chinese market.

In 2019, the SCO Demonstration Base for Agricultural Technology Exchange and Training was opened in Yangling City, Shaanxi Province, in northwest China. The base aims to assist other SCO countries and developing countries in training. Over the past five years, the Demonstration Base has implemented 68 training projects and trained more than 2,200 specialists, actively enhancing cooperation in agriculture.

In recent years, oil and gas pipelines, railways, highways, and tunnels have been built to strengthen connectivity, primarily forming a comprehensive infrastructure network connecting SCO member states.

In addition, SCO’s economic cooperation has expanded into new areas such as scientific and technological innovation, supply chain security, and cross-border e-commerce, indicating broad prospects for cooperation.

These achievements reflect the activity and depth of trade and economic cooperation between the SCO member states and give new impetus to regional economic integration and overall development. In an interview with Chinese media, SCO Secretary-General Zhang Ming said that regional economic cooperation based on common security continues to integrate and develop, constantly giving new impetus to the economic development of the organization’s member states and improving the living standards of their people, benefiting the people of all countries.

UzA