Cooperation with economic organizations

  • Created 07.12.2015 10:57
  • Updated 29.10.2018 15:51
  • Published 07.12.2015 10:57

Shanghai Cooperation Organisation


General information. Shanghai Cooperation Organization (SCO) is a regional international union, established on 15 June 2001 in Shanghai, during a joint meeting of the presidents of five countries (Russia, China, Kazakhstan, Uzbekistan, Tajikistan and Kyrgyzstan).

Member countries. Russia, Kazakhstan, Kyrgyzstan, China, Tajikistan, India, Pakistan and Uzbekistan. Afghanistan, Iran, Mongolia and Belarus have an observer status, Azerbaijan, Turkey, Cambodia, Nepal, Armenia and Sri Lanka are "dialogue partners".

Objective. The objectives of the SCO are to promote good neighborhood and friendship, strengthen mutual trust, promote effective cooperation in various fields, and support joint efforts to ensure peace, stability and security in the region.

Partnership with Azerbaijan. At the meeting of the Council of Heads of SCO member states on 10 July 2015, a decision was made to grant Azerbaijan the status of a dialogue partner in the SCO. On 13 July President Ilham Aliyev officially confirmed the fact at the Cabinet of Ministers’ meeting. In this regard, the draft Memorandum on giving this status was submitted to the Republic of Azerbaijan.

On 16 September 2015, at the 14th meeting of Ministers of Foreign Affairs and Foreign Economic Relations of the SCO, Deputy Minister of Economy and Industry Sahib Mammadov attended the meeting in the Chinese city of Sian.

On 14 March 2016, a “Memorandum on giving to the Republic of Azerbaijan the status of dialogue partner in the Shanghai Cooperation Organization” was signed in Beijing.

At present, works are proceeding to establish cooperation with the SCO Bank Community. The main purpose of this structure, established in 2005, is to organize a financing mechanism for projects supported by SCO member states. In this regard, cooperation with leading economic entities in the SCO region, investment projects financing, exchange of experience, personnel training and other directions have been identified.

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