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Shanghai Cooperation Organization

Economy in SCO states expanding faster than in other countries — Putin

The Russian leader added that industrial production increased by 4.6%, cooperation is expanding in energy, finance, agriculture and food security, infrastructure, high technology, innovation and transport

TIANJIN, September 1. /TASS/. The economy in the member countries of the Shanghai Cooperation Organization (SCO) is advancing despite global difficulties and even faster than the global average, Russian President Vladimir Putin said at the SCO Plus meeting.

"Within the SCO, trade, economic, investment and financial cooperation is actively advancing. It is significant that in the context of ongoing difficulties in the global economy, the combined GDP of the Shanghai Cooperation Organization states in 2024 increased by an average of more than 5%. This is higher than global figures," Putin said.

In particular, industrial production increased by 4.6%, cooperation is expanding in energy, finance, agriculture and food security, infrastructure, high technology, innovation and transport, he added.

The SCO was founded on June 15, 2001, in Shanghai. Initially, it included six countries - Russia, Kazakhstan, Kyrgyzstan, China, Tajikistan, and Uzbekistan. In 2017, India and Pakistan joined the SCO. Iran and Belarus became members in 2023 and 2024 respectively.

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