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SCO Summit: Russia Strengthens Ties and Focuses on Economic Growth

Date:

At the Shanghai Cooperation Organization (SCO) summit, President Vladimir Putin praised China’s leadership during its chairmanship and highlighted the importance of the documents signed, including the Tianjin Declaration and the Statement marking the 80th anniversary of the end of World War II and the establishment of the United Nations.

Russia’s Role in SCO Growth

Putin reflected on significant milestones this year, including Russia’s Victory Day celebrations and upcoming events in Beijing to commemorate the defeat of Japanese militarism. These events symbolize global unity in defeating tyranny, leading to the creation of the United Nations. Putin emphasized that the SCO shares the core values of respect for sovereignty, non-interference, and international law, which are also the foundation of a just, multipolar world order. The summit also adopted the SCO Development Strategy through 2035, focusing on political, economic, security, and humanitarian goals.

Economic Cooperation and Growth

Putin highlighted the economic progress within the SCO, with member states’ GDP growing by over 5% and industrial output up by 4.6% in the last year. Trade between member states continues to rise, and the use of national currencies for mutual settlements is increasing. He called for joint financial measures, including creating an SCO bank and infrastructure for payments, to protect against external economic fluctuations.

Additionally, the SCO’s transport and energy cooperation are expanding, with new infrastructure being developed, and a coordinated energy strategy for the region through 2030 is being fully implemented.

Education and Scientific Ties

The SCO University, comprising 77 universities, is thriving, with active exchanges between students, faculty, and postgraduates. Putin also noted expanding cooperation in science, healthcare, environmental protection, and other sectors.

SCO’s Growing Influence

Putin emphasized that the SCO is becoming a key player in global development and multilateralism. The organization fosters cooperation across Eurasia, helping build a balanced security and stability framework that challenges outdated Eurocentric models.

Addressing Ukraine’s Crisis

Putin discussed the ongoing crisis in Ukraine, stating that it was sparked by a 2014 coup supported by the West. He reiterated that Ukraine’s NATO membership poses a direct threat to Russia’s security. Putin praised the efforts of China, India, and other partners in seeking peace, with ongoing talks with the US also progressing toward a resolution.

Global Security Initiatives

The summit also endorsed a new anti-extremism program for 2030 and established centers in Tashkent and Dushanbe to address global threats, including extremism and drug trafficking.

Looking Ahead

Putin concluded by thanking China for hosting the summit and welcoming Kyrgyzstan’s chairmanship. Further discussions are expected at the next SCO Heads of Government Council Meeting in Moscow.

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