Shanghai Pact may be substitute for EU: Erdoğan

Turkish President Recep Tayyip Erdoğan has said that being a European Union (EU) member is not a must for Turkey, adding that the Shanghai Cooperation Organization (SCO) is a stronger alternative that would usher in a successful conclusion in terms of economy and global politics.

"If Turkey becomes a part of the Shanghai Cooperation Organization, it would be relieved. Such a move would probably trigger a positive atmosphere both in terms of economy and global politics," said Erdoğan, while returning from the official visit he paid to Uzbekistan, according to the Turkish daily Haber Turk newspaper.

"SCO became an economical alliance which wants to incorporate new countries. Turkey may be a significant partner in SCO due to its proximity to Europe and America," he said.

"Moreover, being a NATO member increases the significance of the membership of Turkey to SCO, " he added.

SCO's leading figure is China; however Turkey may play a key role between the EU and SCO, as almost all of the SCO countries are natural gas and oil rich.

SCO members consists of China, Kazakhstan, Russia, Tajikistan and Uzbekistan, which are to establish a common development bank over an agreement that was signed in Kyrgyzstan.

The biggest four trade partners of Turkey is US, China, Switzerland and Russia

Currently, the EU is the 5th biggest trade partner of Turkey, as the volume of Turkey's import from the EU is worth $83 billion and export is worth $64 million.

The SCO promises hope, as more than 3 billion people are living in the countries that are members of the pact, indicating that the biggest trade potential is still in Asia.

Meanwhile, China is hopeful for U.S. policies to be changed as Donald Trump was elected the new president of U.S.

China and Russia are to combine their forces to regenerate the Silk Road as the new 'energy road'.

Due to all these possibilities, the improvement of the SCO is counted as the greatest move since Genghis Khan, the founder and Great Khan (Emperor) of the Mongol Empire, which became the largest contiguous empire in history after his death.