A potential catalyst for cooperation

The Shanghai Coopera­tion Organization (SCO) established in 2001, a regional grouping of eight countries comprised of Belarus, China, India, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Russia, Tajikistan, and Uzbekistan, has emerged as a significant player in the world map. With a vast geographical area spanning Eurasia and a diverse range of economies, the SCO offers immense potential for expanding trade and economic cooperation. SCO region is one of the largest, with a population of 3.5 billion people (40 per cent of the world population), more than $30 trillion GDP (30pc of world GDP) and $2.5tr of trade worldwide. SCO Summits and meetings have always stressed closer connectivity through bilateral trade. Pakistan currently has vast avenues to approach the SCO markets. The low trade with Iran, Kyrgyzstan, Russia, Tajikistan and Uzbekistan witness vital future trade potential. Pakistan and SCO states have been working to strengthen their bilateral trade relations in recent years.