At the Shanghai Cooperation Organisation summit, dozens of cooperation agreements were signed in the areas of energy, trade and the defence of external borders. But – beyond the proclamations about rejecting the dollar – China, India, Pakistan and the countries of Central Asia remain well integrated into the world economy, taking care not to be dragged into the abyss of sanctions against Russia.
Astana () – The Shanghai Cooperation Organisation (SCO) summit has concluded in Astana in a triumphant tone, especially on the part of Russian President Vladimir Putin, who proclaimed “the birth of a new multipolar world and no longer just a regional one”, after having achieved the inclusion of Belarus in the organisation. The topics discussed were precisely the realisation of this vision, proposing a new world security system and the transition to national currencies in financial transactions, freeing ourselves from the “tyranny of the dollar and the euro”.
Dozens of cooperation agreements were signed in the areas of energy, trade and defence at the external borders of the member states, which will determine the future development of the SCO. The most important point was precisely the rejection of the dollar, which affects above all the complex relations that have been created during these two years of war, with sanctions against Russia and the ambiguous role of the allied or “neutral” states vis-à-vis Moscow. Apart from Russia, Iran and Belarus, the other SCO countries (China, India, Pakistan, Kazakhstan, Uzbekistan, Kyrgyzstan and Tajikistan) remain in fact integrated into the world economy, and are very careful not to be dragged into the abyss of sanctions themselves.
The issue of national currencies is also quite difficult to solve, given the great instability of the ruble these days. In some countries, such as Uzbekistan, exchange rates are so high that huge bags of banknotes are needed to make cash payments, and the dollar and the euro have remained the preferred currencies for two years now.
Another key direction of the SCO is the fight against terrorism and extremism, which was reiterated as a priority during the summit. The issue has become even more sensitive after the latest wave of attacks and plots, which have affected both Russia and several parts of Central Asia, and so far there has been no real coordination in the fight between the affected countries, beyond words of support and condolences. As several experts note, the SCO’s proclamations in this regard are rather a way of “flexing its muscles” before the whole world.
The trade balance between these countries is also quite fluctuating, and the entry of Belarus has not added any significant value. More than a common market, in the economic field, bilateral relations between the various SCO members are of primary importance, and the Astana summit itself was an opportunity to establish direct agreements, rather than global perspectives. Competition between India and China, for example, remains in the background, and it is no coincidence that Indian Prime Minister Narendra Modi did not attend Kazakhstan, while the Pakistani delegation attached greater importance to the meeting with Tajik President Emomali Rakhmon.
According to Currentime expert Galja Ibragimova, the SCO as a whole “has more diplomatic than practical significance,” since “the organization was originally created to resolve territorial issues, which to this day remain largely unresolved.” Now, the SCO no longer even addresses this issue, but “thinks about holding parades of leaders, especially from China and Russia, and exalting some new sporadic members, in order to affirm to everyone that it is on the side of good, against all the evil in the rest of the world.”
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