THE Shanghai Cooperation Organization (SCO) remains a pivotal force in fostering 21st-century Eurasian prosperity. The 24th SCO summit, held on July 3-4 in Astana, Kazakhstan’s capital, provided a critical platform for the world’s most influential nations. Exceeding expectations, this summit underscored the organization’s strategic importance and highlighted the collective resolve to sustain and enhance the region’s economic and geopolitical stability in the years ahead.
The key takeaways from the summit are crucial for future development. The 24th summit concluded with the adoption of the ‘Astana Declaration’ and the approval of ‘25 strategic document’. These effective proposals highlight the commitment to regional cooperation and sustainable growth. By addressing global challenges like climate change and economic instability, the summit set a clear roadmap for innovation, inclusive policies, and enhanced social welfare, aiming to foster economic development and environmental sustainability across the region.
A significant area of this year’s SCO meeting was on enhancing mutual trade in local currencies. By bypassing intermediary currencies, the aim is to reduce costs and bolster the competitiveness of the economies within the SCO member states. The host government, ie, Kazakhstan, once again showed its efficacious role for this organization by endorsing the Initiative of “World Unity for a Just Peace, Harmony, and Development.” Under President Kassym-Jomart Tokayev’s leadership, Kazakhstan has effectively showcased its diplomatic prowess by successfully hosting the SCO summit in Astana.
The arrangements and strategic planning by the Kazakh government ensured a seamless event, emphasizing Kazakhstan’s commitment to international cooperation and stability. Astana has emerged as a key hub for global diplomacy, reflecting the country’s ability to manage significant international events and reinforcing its reputation as a stable and influential regional player. This success highlights Kazakhstan’s proactive approach to fostering economic collaboration, security, and cultural exchange among SCO member states.
During the summit, many significant meetings were convened among heads of state to strengthen both bilateral and multilateral relations. Leaders addressed their priority areas, focusing on regional development, climate change, technological advancement, and trade/economic empowerment. Additionally, they emphasized the importance of ensuring security through collective efforts to tackle shared challenges.
The Astana declaration and agreements on 25 documents covering energy resources, trade facilitation, security, finance, and information security were key outcomes of the summit. Additionally, the Council of Heads of States adopted the SCO development strategy until 2035, incorporating Belarus’s inclusion. They also approved the Economic Development Strategy’s Action Plan and Strategies for Economic Cooperation until 2030.
In a nutshell, these achievements and commitments establish a pioneering model for socioeconomic and regional progress among SCO members. The SCO’s proactive role in promoting world peace, security, and stability will undoubtedly shape a prosperous regional order, encouraging the international community to collaborate for a brighter future.
—The writer is an IR expert based in Islamabad, Pakistan.
