UDC 339.977

DOI: http://doi.org/10.15350/2409-7616.2022.4.13

Prudnikov V.V.¹ (Ryazan, Russian Federation) – Pslava73@yandex.ru, Napris Zh.S.¹ (Ryazan, Russian Federation) – latlas@yandex.ru, Zhemulin S.B.² (Perm, Russian Federation) – zhemulin@institut.perm.fsin.uis

¹Academy of the Federal Penitentiary Service of Russia

²Institute of the Federal Penitentiary Service of Russia

Abstract. The article discusses the main trends in the development of mutual cooperation between the countries of the Shanghai Cooperation Organization. The dynamics of trade turnover within the organization, the growth of Russia’s trade with the organization’s members, both in absolute terms, and the share of key players in our country’s foreign trade, primarily the People’s Republic of China and India, were noted. The key role in the process of integration of economic policy between the participating countries of China and Russia is noted. Based on the analysis of the dynamics of trade turnover, as well as on the results of the last meeting of the Council of Heads of State held on September 15-16, 2022 in Samarkand, prospects for the development of economic cooperation, including an increase in the share of mutual settlements in national currencies, as a response to the global challenges currently facing the entire progressive world community, countries, striving for the development of business relations and the development of mutually beneficial relationships.

The main directions of economic cooperation are seen as follows:

– development of efforts to achieve carbon neutrality, formation of a clean, low-carbon, safe and efficient energy system, as well as diversification of types of energy carriers and energy sources;

– transition from non-renewable energy sources to renewable;

– cooperation in the field of digital economy. Emphasis on the importance of digital transformation of the global economy and society, which comprehensively contributes to the growth of the global economy. Digital transformation contributes to creating the necessary conditions for inclusive global growth and brings benefits to all participants;

– the development of multilateral security mechanisms, the fight against the consequences of globalization for security and the violation of the former strategic balance.

The prospects of further expansion of the participating countries by accepting observer states as full members, primarily the Republic of Belarus and dialogue partners Bahrain, the UAE, Kuwait, Maldives and Myanmar, were considered. The huge unrealized potential for further development of integration processes between the participating countries was also noted.

Keywords: Shanghai Cooperation Organization, SCO, trade, trade turnover, economic potential, import, export, development, economy.

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For citation:

Prudnikov V.V., Napris Zh.S., Zhemulin S.B. Prospects for the economic development of Russia and countries of the Shanghai Cooperation Organization. CITISE, 2022, no. 4, pp.143-153. DOI: http://doi.org/10.15350/2409-7616.2022.4.13