The Results of the 20-Year Economic Cooperation of the shanghai Cooperation Organization and its Development Prospects

Abstract

The Shanghai Cooperation Organization is generally considered a security organization. But many of its member countries are in favor of strengthening cooperation in the economic field, and a whole series of decisions on economic cooperation was adopted on their proposal. The purpose of the article is to summarize the results, positive experiences and negative lessons of economic cooperation over the past 20 years in the field of trade, investment and finance within the framework of the SCO and to look into the future. In this direction of research based on the dialectic of materialism, the article uses positive and normative economic analysis, the paradigm of institutionalism, statistical and other methods . Asserting that economic cooperation for the sake of common prosperity and the building of a “Community of Economic Interests” is an essential component of the “Community of the Common Destiny of Mankind”, and that the SCO is an essential platform for the joint coordination and promotion of the concept of “One Belt and One Road” and the common distribution of their fruits, and for the promotion of mutually beneficial economic cooperation. The article concludes that, on this platform, the Chinese and Russian initiatives “One Belt and One Road” and “Greater Eurasian Partnership” work closely together to develop infrastructure interconnections, trade facilitation and regional economic integration, resulting in the formation of the Eurasian Economic Partnership for the sake of common prosperity in the SCO region. The article also shows the challenges and difficulties that the SCO faces in its development.