Iran’s Admission to SCO Anticipated To Boost Regional Economy
Iran announced on Monday that its impending full membership in the Shanghai Cooperation Organization (SCO) is expected to spur regionalism and bolster the economic advancement of its fellow members.
The SCO is a Eurasian political, economic, and security alliance founded in Shanghai in 2001 by the leaders of China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan. The organization seeks to strengthen cooperation among member countries to maintain regional stability and promote economic development. Over time, the SCO has expanded to include eight full members with the addition of India and Pakistan in 2017. Several other countries, including Iran, Mongolia, Belarus, and Afghanistan, have observer status, while others such as Turkey, Sri Lanka, and Armenia hold dialogue partner status. The organization represents a significant portion of the world’s population and geographical area, giving it considerable influence on global affairs.
Foreign Ministry spokesman Nasser Kanaani extolled Iran’s forthcoming SCO admission during a weekly press briefing in Tehran. The approval of Iran’s membership, deemed a “positive development” for the group, is projected to occur at the 23rd SCO Council of Heads of State meeting on Tuesday.
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Kanaani asserted that this development is advantageous for Iran as well as the other SCO member states. He emphasized that Iran’s accession would enhance the clout of the SCO—a key regional organization that, he said, comprises powerful economies.
Moreover, Kanaani underscored that Iran’s SCO membership would stimulate trade collaboration and nurture “constructive relations” among SCO member states.
The SCO began proceedings to admit Iran as a full member during the 21st SCO Council of Heads of State meeting in Dushanbe, Tajikistan, in September 2021.
In November 2022, the Iranian parliament ratified a bill sanctioning the country’s SCO membership with an overwhelming majority.
