This is a milestone for Pakistan to host the Shanghai Cooperation Organization (SCO) conference in October 2024. The organization's importance can be estimated from the fact that it is the largest organization in the world geographically, including 80% of Eurasia and 40% of the world's population. If we look at the founding members, Russia and China founded it in 2001, and Pakistan was an observer member from 2005 to 2017 and became a regular member in June 2017.
In light of Pakistan's economic crisis, hosting the SCO summit is highly significant. Pakistan should prioritize enhancing bilateral cooperation and extending economic connections more heavily as it grows. Pakistan may greatly benefit from the SCO platform by strengthening economic ties, attracting international investment, and increasing regional commerce. By opening itself up to new opportunities for growth and success, Pakistan has an excellent opportunity to show its dedication to regional collaboration and economic development by hosting the conference. If Pakistan is serious about reviving its economy and solving pressing development issues, it must actively participate in this diplomatic endeavor.
As two powerful countries, India and Pakistan, meet for the Shanghai Cooperation Organization summit, they can discuss things and set their disagreements aside. Despite India's 2016 decision not to attend the SAARC meeting, the SCO platform presents a new opportunity for the two countries to set aside their disputes and work together to improve economic, cultural, and developmental connections. A more cooperative and peaceful atmosphere in the area might be achieved if India and Pakistan thaw their frozen relations via constructive interaction. Numerous positive outcomes, such as rekindled cooperation, economic prosperity, and stability in the area, may result from this revitalized contact.
It is critical to maintain good peace to establish groups like SCO, which may focus on reducing the likelihood of conflict and concentrating on economic development and cooperation. Nations that value diplomacy, mutual understanding, and respect are more likely to achieve constructive peace, creating conditions conducive to economic growth and development over the long run. By promoting a culture of peace and redirecting resources from military spending to social welfare, innovation, and economic growth, the member states of the SCO have the potential to build a more peaceful and prosperous region. This strategy has the potential to help nations improve their futures, increase national security, and resolve global issues.
The SCO is an important regional platform that includes China, Russia, India, Pakistan, and the Central Asian nations. Its members have a combined population of more than 40% and a GDP of 20%. Much has been achieved by the SCO since its inception in 2001. The result of this partnership is the Belt and Road Initiative (BRI), the Joint Research Center (JRC), and the Regional Anti-Terrorist Structure (RATS). While the SCO promotes economic cooperation, BRI promotes commerce and infrastructural development, and RATS combats terrorism. During its summit in October 2024, the organization is expected to tackle essential matters such as strengthening regional security cooperation, increasing economic connections, and combating new threats such as pandemics and climate change. The SCO can shape the area's future and strive for greater peace, stability, and prosperity because of its combined economic might and geopolitical influence.
As the site of the next SCO summit, Pakistan is well-positioned to reap several benefits. Pakistan will showcase its hospitality and economic strength by hosting the conference, which is anticipated to attract delegates and leaders from eight member nations. An estimated ten to fifteen per cent rise in trade volume and one billion dollars in foreign direct investment are on the table. Pakistan can enhance its geopolitical influence and stability by strengthening diplomatic ties with regional countries. If Pakistan can host the SCO conference well, it will prove that it can successfully host major international events, elevating its prestige further.
