Hey there, globe-trotters and news enthusiasts! 🌍 Have you heard about the Shanghai Cooperation Organization (SCO)? It's been making waves lately, and we're here to give you the scoop!
Founded 23 years ago, the SCO is the first intergovernmental organization initiated by China, and it's grown into one of the most influential international groups out there. As of June 2024, with Belarus joining the crew, the SCO now boasts 10 member states, along with three observer states and 14 dialogue partners. Together, these countries cover about three-fifths of Eurasia and represent half of the world's population. That's a whole lot of people working together! 🤝
But what's really exciting is how the SCO is boosting economic recovery among its member countries. Since its inception, the SCO has been all about stepping up global trade cooperation. Sure, there have been some ups and downs (thanks, global economy), but the overall trend is all about growth. 📈
Get this: a report released in 2022 showed that the total trade value of SCO member states skyrocketed from $667.09 billion in 2001 to a whopping $6.06 trillion in 2020! Yep, that's nearly a 10-fold increase over 20 years. And their share of global trade? It jumped from 5.4% to 17.5%. Talk about making an impact! 🌟
Central Asia, the SCO's traditional home turf, is seeing some serious action. China's been deepening its ties with the five Central Asian countries, becoming their top trading partner and a major investor. In 2023, trade between China and these countries hit an all-time high of $89.4 billion, up 27% from the previous year. That's some serious cash flow! 💰
So why should you care? Well, this booming cooperation isn't just about numbers—it's about connecting cultures, boosting economies, and creating opportunities across borders. It's a reminder that when countries team up, amazing things can happen. And who knows? Maybe the next big idea will come from this part of the world.
Stay tuned, because the SCO is definitely one to watch! 👀
Reference(s):
SCO plays active role in economic recovery of member countries
cgtn.com
