MOSCOW, May 30 (RIA Novosti) - Russia will continue its policy to enhance the role of the six-member Shanghai Cooperation Organization, President Vladimir Putin said Tuesday.

The regional grouping, which was set up in 2001 by Russia, China and four Central Asian states, addresses a range of issues and, in particular, seeks to accomplish political, counter-terrorism and economic objectives.

Putin told a Kremlin meeting with SCO parliamentary speakers that the organization was "a good example of equal partnership based on common interests in effective joint action."

But the Russian leader suggested that other organizations were trying to compete with the organization, though he said this kind of rivalry would be of no benefit.

"I believe it would be correct if we do not engage in any competition but just pursue joint constructive work, as was the case in all the previous years," he said.

Besides Russia and China, the SCO comprises Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan.

India, Iran, Mongolia, and Pakistan are observers, though Pakistan is expected to apply for full membership and President Pervez Musharraf has been invited to a summit of SCO leaders in Shanghai on June 15.