The Shanghai Cooperation Organisation (SCO) is an international regional organisation established in 2001. The SCO currently comprises 10 member states: Belarus, China, India, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Russia, Tajikistan and Uzbekistan.
Two countries — Afghanistan and Mongolia — have observer status within the SCO. In addition, 15 countries are SCO dialogue partners: Armenia, Azerbaijan, Bahrain, Cambodia, Egypt, Kuwait, Laos, the Maldives, Myanmar, Nepal, Qatar, Saudi Arabia, Sri Lanka, Türkiye and the United Arab Emirates.
India and Pakistan became full members of the SCO in 2017, followed by Iran in 2023 and Belarus in 2024. The enlargement expanded the Organisation’s geographical coverage and increased its international role and economic potential.
The expansion of the SCO has created additional opportunities for developing trade and investment ties, making more effective use of transport and transit potential, and strengthening interregional production and logistics links.
SCO member states, particularly China, Russia and the Central Asian countries, are among Uzbekistan’s major trade and economic partners.
Between 2017 and 2025, Uzbekistan’s trade turnover with SCO countries increased 3.1-fold, from $12.9 billion to $40.6 billion. Exports rose by almost 1.8 times, from $5.8 billion to $10.65 billion, while imports increased 4.2-fold, from $7.1 billion to $29.96 billion.
In 2025, trade with SCO countries accounted for 50% of Uzbekistan’s total foreign trade turnover. SCO member states represented approximately 31.5% of Uzbekistan’s exports and 63.3% of its imports. Uzbekistan’s total foreign trade turnover in 2025 amounted to $81.2 billion, including $33.8 billion in exports and $47.4 billion in imports.
In 2025, Uzbekistan’s exports to SCO countries amounted to $10.65 billion. Non-monetary gold accounted for $9.9 billion of Uzbekistan’s total exports. Excluding gold, SCO countries accounted for approximately 44.5% of the country’s exports.
In 2025, Uzbekistan’s main trading partners among SCO member states were:
SCO countries are important export markets for Uzbekistan’s finished products. They play a significant role in exports of fruit and vegetables and other food products, electrical goods, textiles and automotive products.
SCO member states are also major suppliers of machinery and equipment, industrial products, raw materials and food products required by Uzbekistan’s economy and manufacturing sector. In 2025, China accounted for 31.2% of Uzbekistan’s total imports, Russia for 18.3%, Kazakhstan for 7.2% and India for 2.4%. Together, these four SCO countries supplied more than 59% of Uzbekistan’s imports.
In 2025, foreign investments and loans directed to fixed capital in Uzbekistan amounted to $33.5 billion.
Within the structure of foreign investments and loans in fixed capital, foreign direct investment amounted to UZS 281.1 trillion, foreign loans guaranteed by the Republic of Uzbekistan to UZS 32.5 trillion, and non-guaranteed foreign loans to UZS 108.5 trillion.
A significant share of foreign investments and loans was directed to productive sectors. Manufacturing accounted for 33.2% of the total, electricity and gas supply for 17.1%, and mining for 11.9%. Foreign investments and loans were also directed to transportation and storage, construction, information and communications, and other sectors.
Uzbekistan’s investment cooperation with SCO countries also expanded significantly. In 2025, the volume of investments from the Organisation’s member states amounted to $17.5 billion. The largest shares came from China ($13 billion) and Russia ($2.6 billion). Other investment partners included Kazakhstan ($870 million), Iran ($265 million), India ($247 million), Kyrgyzstan ($197 million), Tajikistan ($196 million), Belarus ($76.5 million) and Pakistan ($52.5 million).
These figures indicate the significant share of China and Russia in Uzbekistan’s investment cooperation with SCO countries, alongside investment ties with Central Asian states and other members of the Organisation. Investment provides a financial basis for implementing joint projects in industrial cooperation, energy, transport, infrastructure and other areas.
As one of the founding members of the SCO, Uzbekistan is interested in further expanding trade and economic, investment, industrial, transport and logistics cooperation with the Organisation’s member states.
Center for Economic Research and Reforms
Public Relations Department
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