SCO data bank may serve as catalyst for industrial expansion: Putin

By Al Mayadeen English
Source: Agencies
Today 17:48

Putin's call for an SCO-wide data bank comes as the bloc deepens long-running economic integration through expanded trade, infrastructure links, and shared technological development.

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Russian President Vladimir Putin speaks during his meeting with the heads of government of member states of the Shanghai Cooperation Organisation at the Senate Palace of the Kremlin in Moscow, Russia, Tuesday, Nov. 18, 2025 (Ramil Sitdikov/Pool Photo via AP)

Russian President Vladimir Putin told leaders gathered in Moscow for the Shanghai Cooperation Organization summit on Tuesday that a new shared data platform could significantly elevate the bloc's industrial capabilities. He said the initiative is designed to strengthen collaboration across member states and accelerate technological development.

According to Putin, "The creation of such a tool will boost cooperation in the industrial sector, facilitate the joint development of production capacities, import substitution, the introduction of new technologies and digital innovations, including artificial intelligence." He added that closer alignment among the group’s governments would help unlock greater economic potential.

Eurasian Expansion

The proposal comes at a time when SCO economies have deepened their cooperation dramatically over the past two decades. Since the organization’s founding in 2001, trade among member states has expanded several-fold, driven by energy partnerships, large-scale infrastructure projects, and the development of new overland transport corridors linking China, Central Asia, Russia, South Asia and, more recently, Iran and Belarus.

China’s trade with fellow SCO members alone has multiplied many times over, while Central Asian states have gained new transit revenues and investment flows tied to rail projects, logistics hubs, and cross-border energy routes. For countries facing Western sanctions, such as Russia and Iran, the SCO framework has also become a platform for alternative financial mechanisms and increased reliance on local-currency settlements.

Strategic Unity

Against this backdrop of intensified economic integration, Putin commended the participating heads of state for what he described as a productive gathering and urged them to maintain a unified approach. "I am confident that by acting in a coordinated and united manner, by helping each other, we can achieve truly impressive results in developing the multifaceted cooperation between our countries," he said.

The SCO, established in 2001, currently includes Russia, China, India, Iran, Pakistan, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, and Belarus, with several other nations holding observer or dialogue partner status.