SCO member states account for a third of the global economy — the Russian Ministry of Economic Development has called for greater regional cooperation

Danil Turlanov, Deputy Director of the Department for Economic Cooperation with CIS Countries at the Russian Ministry of Economic Development, stated that the member states of the Shanghai Cooperation Organisation currently account for around a third of global GDP, and therefore inter-regional cooperation within the organisation is becoming one of the key priorities of economic policy.

He made this statement at the 5th Forum of Heads of Regions of SCO Member States in Cholpon-Ata.

According to Turlanov, SCO countries are home to almost half the world’s population, and the organisation itself has already demonstrated its ability to maintain stability even in the face of a volatile global economy.

“Despite the continuing volatility of the global economy, the organisation’s member states have demonstrated their ability to reach new heights in economic cooperation,” he noted.

The representative of the Russian Ministry of Economic Development emphasised that SCO countries are working together to improve trade conditions, develop transport infrastructure and coordinate transport links.

At the same time, he said, the focus is increasingly shifting to the regional and municipal levels.

“Today I am pleased to see that this initiative is being developed by new participants, new regions and new initiatives,” said Turlanov, recalling that the idea of the SCO Regional Forum was first proposed back in 2012.

He also reported that measures aimed at ensuring economic stability and expanding infrastructure are being planned within the SCO framework.

The representative of the Russian ministry identified the transition from discussions to practical mechanisms for cooperation as one of the forum’s key tasks. In this regard, Russia proposed developing a roadmap for cooperation among SCO regions for the coming year.

“This initiative would be welcome in terms of giving our cooperation a practical focus,” he emphasised.

The forum is hosting panel sessions on industrial cooperation, transport cooperation and inter-municipal interaction. Following the discussions, participants intend to draw up proposals for the further development of economic ties between the regions of the SCO member states.