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<article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:ali="http://www.niso.org/schemas/ali/1.0/" article-type="research-article" dtd-version="1.2" xml:lang="en"><front><journal-meta><journal-id journal-id-type="publisher-id">RUDN Journal of Economics</journal-id><journal-title-group><journal-title xml:lang="en">RUDN Journal of Economics</journal-title><trans-title-group xml:lang="ru"><trans-title>Вестник Российского университета дружбы народов. Серия: Экономика</trans-title></trans-title-group></journal-title-group><issn publication-format="print">2313-2329</issn><issn publication-format="electronic">2408-8986</issn><publisher><publisher-name xml:lang="en">Peoples’ Friendship University of Russia named after Patrice Lumumba (RUDN University)</publisher-name></publisher></journal-meta><article-meta><article-id pub-id-type="publisher-id">36228</article-id><article-id pub-id-type="doi">10.22363/2313-2329-2023-31-3-476-488</article-id><article-id pub-id-type="edn">NWTHPF</article-id><article-categories><subj-group subj-group-type="toc-heading" xml:lang="en"><subject>Developed and developing countries economy</subject></subj-group><subj-group subj-group-type="toc-heading" xml:lang="ru"><subject>Экономика развитых и развивающихся стран</subject></subj-group><subj-group subj-group-type="article-type"><subject>Research Article</subject></subj-group></article-categories><title-group><article-title xml:lang="en">The economic potential of the Republic of Belarus after joining the SCO: Advantages and opportunities</article-title><trans-title-group xml:lang="ru"><trans-title>Экономический потенциал Республики Беларусь после присоединения к ШОС: преимущества и возможности</trans-title></trans-title-group></title-group><contrib-group><contrib contrib-type="author"><contrib-id contrib-id-type="orcid">https://orcid.org/0000-0003-1797-8825</contrib-id><name-alternatives><name xml:lang="en"><surname>Balashova</surname><given-names>Svetlana A.</given-names></name><name xml:lang="ru"><surname>Балашова</surname><given-names>Светлана Алексеевна</given-names></name></name-alternatives><bio xml:lang="en"><p>PhD in Physical and Mathematical Sciences, Head of the Economic and Mathematic Modelling Department, Faculty of Economics</p></bio><bio xml:lang="ru"><p>кандидат физико-математических наук, заведующая кафедрой экономико-математического моделирования, экономический факультет</p></bio><email>balashova_sa@pfur.ru</email><xref ref-type="aff" rid="aff1"/></contrib><contrib contrib-type="author"><name-alternatives><name xml:lang="en"><surname>Usanova</surname><given-names>Yana A.</given-names></name><name xml:lang="ru"><surname>Усанова</surname><given-names>Яна Александровна</given-names></name></name-alternatives><bio xml:lang="en">3-d year student of Faculty of Economics, Department of the Economic and Mathematic Modelling, Faculty of Economics</bio><bio xml:lang="ru">студент 3-го курса, кафедра экономико-математического моделирования, экономический факультет</bio><email>1032201956@pfur.ru</email><xref ref-type="aff" rid="aff1"/></contrib><contrib contrib-type="author"><name-alternatives><name xml:lang="en"><surname>Dolgikh</surname><given-names>Valeria A.</given-names></name><name xml:lang="ru"><surname>Долгих</surname><given-names>Валерия Андреевна</given-names></name></name-alternatives><bio xml:lang="en">3-d year student, Economic and Mathematic Modelling Department, Faculty of Economics</bio><bio xml:lang="ru">студент 3-го курса экономического факультета, кафедра экономико-математического моделирования</bio><email>1032201953@pfur.ru</email><xref ref-type="aff" rid="aff1"/></contrib><contrib contrib-type="author"><name-alternatives><name xml:lang="en"><surname>Pavlov</surname><given-names>Maxim A.</given-names></name><name xml:lang="ru"><surname>Павлов</surname><given-names>Максим Алексеевич</given-names></name></name-alternatives><bio xml:lang="en">3-d year student, Economic and Mathematic Modelling Department, Faculty of Economics</bio><bio xml:lang="ru">студент 3-го курса экономического факультета, кафедра экономико-математического моделирования</bio><email>1032200876@pfur.ru</email><xref ref-type="aff" rid="aff1"/></contrib><contrib contrib-type="author"><contrib-id contrib-id-type="orcid">https://orcid.org/0009-0008-1748-9398</contrib-id><name-alternatives><name xml:lang="en"><surname>Popov</surname><given-names>Vladislav V.</given-names></name><name xml:lang="ru"><surname>Попов</surname><given-names>Владислав Владимирович</given-names></name></name-alternatives><bio xml:lang="en"><p>3-d year student, Economic and Mathematic Modelling Department, Faculty of Economics</p></bio><bio xml:lang="ru"><p>студент 3-го курса экономического факультета, кафедра экономико-математического моделирования</p></bio><email>1032200887@pfur.ru</email><xref ref-type="aff" rid="aff1"/></contrib></contrib-group><aff-alternatives id="aff1"><aff><institution xml:lang="en">RUDN University</institution></aff><aff><institution xml:lang="ru">Российский университет дружбы народов</institution></aff></aff-alternatives><pub-date date-type="pub" iso-8601-date="2023-09-30" publication-format="electronic"><day>30</day><month>09</month><year>2023</year></pub-date><volume>31</volume><issue>3</issue><issue-title xml:lang="en">MODERNIZATION AND INNOVATION. NEW CHALLENGES OF THE WORLD ECONOMY</issue-title><issue-title xml:lang="ru">МОДЕРНИЗАЦИЯ И ИННОВАЦИИ. НОВЫЕ ВЫЗОВЫ МИРОВОЙ ЭКОНОМИКИ</issue-title><fpage>476</fpage><lpage>488</lpage><history><date date-type="received" iso-8601-date="2023-10-04"><day>04</day><month>10</month><year>2023</year></date></history><permissions><copyright-statement xml:lang="en">Copyright ©; 2023, Balashova S.A., Usanova Y.A., Dolgikh V.A., Pavlov M.A., Popov V.V.</copyright-statement><copyright-statement xml:lang="ru">Copyright ©; 2023, Балашова С.А., Усанова Я.А., Долгих В.А., Павлов М.А., Попов В.В.</copyright-statement><copyright-year>2023</copyright-year><copyright-holder xml:lang="en">Balashova S.A., Usanova Y.A., Dolgikh V.A., Pavlov M.A., Popov V.V.</copyright-holder><copyright-holder xml:lang="ru">Балашова С.А., Усанова Я.А., Долгих В.А., Павлов М.А., Попов В.В.</copyright-holder><ali:free_to_read xmlns:ali="http://www.niso.org/schemas/ali/1.0/"/><license><ali:license_ref xmlns:ali="http://www.niso.org/schemas/ali/1.0/">https://creativecommons.org/licenses/by-nc/4.0</ali:license_ref></license></permissions><self-uri xlink:href="https://journals.rudn.ru/economics/article/view/36228">https://journals.rudn.ru/economics/article/view/36228</self-uri><abstract xml:lang="en"><p style="text-align: justify;">In the era of globalization, integration groupings have become an important tool for the development of many countries in the world economy. They contribute to the formation of close economic ties and coordination of foreign trade between the participants, which in turn has a favorable effect on the development of the national economy of the country. Participation in integration associations is of great importance for the development of Belarus’ economy and increasing its role in the international arena. Membership in the SCO opens up new prospects for the country and provides an opportunity to expand cooperation with other countries of the Asian region. Once Belarus becomes a full-fledged member of the association, the country will have new ways to develop its potential in various areas, including the economy, logistics, transport, security, culture, education, healthcare, tourism, industrial and agricultural sector, science, as well as experience in international multilateral cooperation. The article is devoted to the topic of assessing the potential of joining the Shanghai Cooperation Organization integration association of the Republic of Belarus. In order to assess the prospects of economic cooperation more accurately, the authors conducted an econometric analysis using a modified version of the traditional gravity model of Belarus’ foreign trade with the member countries. As a result, the authors have identified the most significant factors influencing the volume of trade with the member countries. By analyzing the ratio of calculated indicators to the actual level of exports and imports, the authors made a conclusion about the level of realization of trade potential with the SCO countries. As a consequence, the authors proposed possible ways to implement trade by analyzing the commodity structure of foreign trade flows of the Republic of Belarus with the members of the integration association.</p></abstract><trans-abstract xml:lang="ru"><p style="text-align: justify;">В эпоху глобализации интеграционные группировки стали важным инструментом для развития множества стран в мировом хозяйстве. Они способствуют формированию тесных экономических связей и координации внешней торговли между участниками, что, в свою очередь, благоприятно сказывается на развитии национальной экономики страны. Участие в интеграционных объединениях имеет большое значение для развития экономики Беларуси и увеличения ее роли на международной арене. Вступление в ШОС открывает новые перспективы для страны и дает возможность расширять кооперацию с другими странами Азиатского региона. После становления Беларуси полноправным участником объединения перед страной откроются новые пути развития потенциала в различных сферах, включая экономику, логистику, транспорт, безопасность, культуру, образование, здравоохранение, туризм, промышленный и сельскохозяйственный сектор, науку, а также опыт международного многостороннего сотрудничества. Исследование посвящено оценке потенциала вступления Республики Беларусь в интеграционное объединение Шанхайской организации сотрудничества. Для более точной оценки перспектив экономического сотрудничества, авторами был проведен эконометрический анализ с использованием модифицированной версии традиционной гравитационной модели внешней торговли Беларуси со странами-участницами. В результате авторами были выявлены самые значимые факторы влияния на объем торговли со странами-участницами. В результате анализа отношения расчетных показателей к фактическому уровню экспорта и импорта авторы сделали вывод об уровне реализации торгового потенциала со странами ШОС, вследствие чего предложены возможные пути реализации торговли с помощью анализа товарной структуры потоков внешней торговли Республики Беларусь с участницами интеграционного объединения.</p></trans-abstract><kwd-group xml:lang="en"><kwd>export potential</kwd><kwd>foreign trade activity</kwd><kwd>gravity model</kwd><kwd>Shanghai Cooperation Organization</kwd><kwd>Republic of Belarus</kwd><kwd>gross domestic product</kwd><kwd>purchasing power parity</kwd></kwd-group><kwd-group xml:lang="ru"><kwd>экспортный потенциал</kwd><kwd>внешнеторговая деятельность</kwd><kwd>гравитационная модель</kwd><kwd>Шанхайская организация сотрудничества</kwd><kwd>Республика Беларусь</kwd><kwd>валовой внутренний продукт</kwd><kwd>паритет покупательной способности</kwd></kwd-group><funding-group/></article-meta></front><body></body><back><ref-list><ref id="B1"><label>1.</label><mixed-citation>Bogdan, S. 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