Business Cooperation between ASEAN And SCO: The Institutional Dimension

Abstract

The paper assesses prospects for strengthening contacts between Association of Southeast Asian Nations (ASEAN) and Shanghai Cooperation Organization (SCO) under the auspices of their respective institutions of business cooperation. The specificity of dialogue between ASEAN and SCO is revealed, possibilities and limitations of fostering business ties within the frameworks of ASEAN Business Advisory Council (ASEAN BAC) and SCO Business Council (SCO BC) are analysed, the most likely scenario under which this cooperation can be energized is specified. According to the authors' position, this intensification of contacts is possible only in case ASEAN BAC and SCO BC are synergized with China's mega-strategy the Belt and Road Initiative. Under other scenarios, including the “business-as-usual” format of cooperation between ASEAN and SCO business communities in the framework of ASEAN BAC and SCO BC, progress is unlikely.