Council of Heads of Government of the SCO Member States shall consider and adopt decisions on specific practical issues of cooperation in economic and humanitarian spheres. In this case, concrete proposals on a number of fronts have been put forward:
- The creation of a free trade zone within the framework of the SCO and to accelerate the 2020 exchange of goods and services.
- The Strengthening of measures in the fight against terrorism, separatism and extremism for the period from 2016 to 2018 on the basis of geopolitical specifics of the countries – members of the SCO.
- The Creation of a SCO Development Bank and Development Fund.
- The allocation of funds for the establishment of a secure information-telecommunication system between competent authorities of the SCO countries.
- The creation of a single transport network on the Eurasian continent with a node in the Central Asian region.
- The start of negotiations on the establishment of settlements in national currencies.
These plans are a coherent strategy. If we can implement them within a specified time, the SCO could change the regional geopolitical situation. It is clear that the core of the SCO is trying to develop an independent policy from the US and the established rules of the global game. De-dollarization of the SCO economies may lead to political changes later too.
The Shanghai Cooperation Organization was founded in 2001. Its founders are China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan. Currently, the observer states of the SCO are Mongolia, India, Iran, Pakistan, Afghanistan and Belarus.
The status of the SCO dialogue granted Belarus, Sri Lanka, Turkey, Azerbaijan, Armenia, Cambodia and Nepal as partners.
From a geopolitical position, this alliance is the only Eurasian Continental project aimed at strengthening the relationship between the Heartland and Rimland.
Moscow as an energy superpower and a link between Asia and Europe is also trying to take advantage of the alliance. The conflict with the West and the crisis in relations with the EU is forcing Russia to turn to the east. At the last summit, Prime Minister Medvedev said that Russia would like to kick start talks on creating an economic partnership between the Eurasian Economic Union (EEU), the Shanghai Cooperation Organisation (SCO), and the Association of Southeast Asian Nations (ASEAN).
SCO is not developing as quickly as some would like for alliance members. But keep in mind that the EU has also created across decades and its expansion took place not in a single step. In addition, the SCO is based on the organization's charter and operates according to that main document; therefore it limits maneuvers and the taking of tactical decisions. However, the SCO, together with other non-Western projects, such as the EAEC, BRICS, the CSTO, and CELAC could gain enough power some time in the future to challenge the Western world.
