Modi Calls for Better Connectivity in Eurasia at SCO Summit

The 22nd SCO Summit took place virtually on 4 July 2023 and was chaired by India. In his keynote address, Indian PM Narendra Modi underscored the need for better connectivity in Eurasia as a sine qua non condition for economic development and prosperity.

For his part, Russian President Vladimir Putin declared that despite the sanctions as a result of the Russia-Ukraine conflict, the Russian economy is now stronger.

In a related note, the SCO countries agreed to gradually increase the use of national currencies in mutual settlements.

Chinese President Xi Jinping promoted his country’s flagship Belt and Road Initiative (#BRI), stating that: “A just cause will find solid support and a journey with companies will go far!” However, as expected, India was the only country which did not support the BRI as per the joint declaration following the meeting.

Iran officially became a member of SCO in 2023

During this 22nd SCO Summit, Iran officially became a permanent member of SCO. 2024 has been declared the SCO Year of the Environment and India will be handing the presidency to Kazakstan in 2024.

The SCO member states believe that the world is evolving into a multipolar one and will strive to create a more representative, democratic and just new world order.