SCO members boost connectivity under B&R Initiative

The members of Shanghai Cooperation Organization have established close connectivity and intensive exchanges on commodities, personnel, materials and services since SCO was established 16 years ago.

Five members of SCO have rich oil and gas resources. Expanding the Chinese market and integrating with the Asia-Pacific economies has become an important part of the five countries’ strategies to expand export.

The 962-kilometer China-Kazakhstan oil pipeline came into use in May 2006. After that the other member states strengthened energy cooperation with China, which not only boosts their exports, but also creates jobs and tax revenues.

The energy cooperation mechanism among SCO members can help avert risks brought by fluctuations in supply and demand as well as in energy prices.

Most of the SCO members, observers and dialogue partners are emerging economies or developing countries along the Belt and Road routes, having strong demand for infrastructure construction, interconnectivity, industrial capacity cooperation and financial development.

It is a common vision of the SCO members that they can form a free trade area, realizing a free flow of commodities, capital, services and technology.

The formal accession of India and Pakistan will make SCO the regional cooperation organization with the largest population and covering the largest area in the world. The two new members will further boost economic and trade cooperation within the SCO framework.