The upcoming Shanghai Cooperation Organization (SCO) summit in Pakistan marks a significant milestone in the country’s foreign relations. Not only will this be the first time major regional political players will visit Pakistan during this tenure, but it also reflects the country’s evolving stance on the global stage. Pakistan has distanced itself from the close orbit of the West and its allies, a position it was compelled to adopt during the two invasions of Afghanistan, and now enjoys greater autonomy in shaping its future.

Pakistan appears to be aligning with a growing chorus of nations advocating for a more equitable global order, moving away from a system centred on the United States and its dollar. Consequently, organisations like the SCO and BRICS are gaining prominence, with their agendas evolving accordingly. BRICS, originally conceived to facilitate economic cooperation between the largest growing economies, is now expanding its scope to include economies seeking to move away from the dollar-dominated system.

The SCO summit also presents Pakistan with an opportunity to showcase its political and economic stability to global investors and leaders. The news that Pakistan is expected to sign agreements worth around $2 billion with the visiting Saudi delegation ahead of the SCO summit is a positive development. The steady growth of the Pakistani stock market during this period is another encouraging sign.

Furthermore, consistent praise from multilateral organisations such as the Asian Development Bank (ADB) and the International Monetary Fund (IMF) for Pakistan’s economic reform progress is a positive indicator. Despite internal challenges, including threats from insurgent groups like the foreign-backed Balochistan Liberation Army and remnants of the Tehreek-e-Taliban Pakistan in Hyderabad, it is hoped that Pakistan will not only successfully host the summit but also take a diplomatic lead in shaping a more equitable global order that offers the country the opportunities it needs to thrive.