Russian president highlights expanding trade, national-currency settlements, energy cooperation and humanitarian ties at SCO summit in Bishkek

BISHKEK, Tuesday, September 1, 2026 (WNP): Russian President Vladimir Putin has described the Shanghai Cooperation Organisation (SCO) as one of the world’s largest regional organisations and an influential centre in the emerging multipolar international system, saying the grouping’s continued development is contributing to peace, stability and sustainable growth across Eurasia.

Addressing the SCO Council of Heads of State meeting in Bishkek, Putin recalled that the organisation was established in 2001 through the joint efforts of Russia, China, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan.

Over the past 25 years, he said, the SCO has steadily strengthened and expanded its scope, emerging as one of the independent and influential centres of the increasingly multipolar world.

Putin noted that SCO member states collectively represent nearly half of the world’s population and account for more than one-third of global GDP, giving the organisation significant economic and geopolitical weight.

He said member states are actively cooperating in political, economic, humanitarian and social spheres, with their partnership contributing not only to the stable and sustainable development of participating countries but also to greater peace, stability, mutual trust and cooperation across Eurasia.

The Russian president expressed confidence that the comprehensive package of important decisions being submitted for approval at the Bishkek summit would provide a new impetus to cooperation within the SCO.

Putin placed particular emphasis on strengthening trade links among SCO member states, saying expanding economic connectivity is producing tangible benefits and supporting socioeconomic development and improvements in living standards.

He said mutual trade and investment are growing year after year. According to Putin, Russia’s trade with SCO member states exceeded $400 billion in 2025.

He also highlighted the growing use of national currencies in bilateral transactions, saying their share in Russia’s transactions with SCO countries has now exceeded 98 percent.

Putin said the SCO Business Council and the Interbank Consortium are playing an important role in implementing joint economic projects based on mutual interests.

He added that the development bank being established under the SCO could eventually contribute to this process, stressing that the institution should, as far as possible, remain independent of financial systems of countries that use economic instruments to pursue unilateral advantages in international affairs.

Putin said it was in the common interest of SCO members to continue pursuing coordinated and balanced energy policies in line with the organisation’s Energy Cooperation Strategy through 2030.

He stressed the importance of maintaining cooperation in the energy sector as member states seek sustainable economic growth and greater regional connectivity.

The Russian president also welcomed the progress being made in cultural and humanitarian cooperation within the SCO framework.

He pointed to expanding links in education, healthcare, environmental protection, science and youth exchanges, noting that the SCO University is functioning successfully and brings together more than 100 universities from member countries.

He also highlighted SCO women’s forums, which focus on strengthening the role of women in public and political life, business and social affairs.

Referring to the ongoing World Nomad Games in Kyrgyzstan, Putin said he had attended the opening ceremony the previous day, with representatives from Russia and several other SCO member states taking part.

He announced that Russia is prepared to host the next World Nomad Games in Kazan in 2028, saying Moscow would be pleased to welcome teams from interested countries.

Putin also said Russia traditionally looks forward to welcoming prominent cultural and artistic figures from SCO member states to the United Cultures Forum in St Petersburg later in September.

Concluding his remarks, Putin said he was confident that the joint efforts in Bishkek would further advance multilateral cooperation within the SCO framework in pursuit of security, peaceful development and prosperity throughout Eurasia.

He also drew attention to September 1, which he described as a date marking the beginning of the Second World War, urging the international community to make every possible effort to ensure that the trend of fuelling armed conflicts does not become part of international conduct.

Putin expressed confidence that the collective work of SCO member states was helping move the organisation towards that objective, while reinforcing the principles of cooperation, stability and peaceful development across the Eurasian region.