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An IMF report has praised Moscow for measures that have helped soften the blow of recession.
Putin called for encouraging moderate Syrian rebels to disengage quickly from the al-Qaida-linked Nusra Front.
The special drills are being held from July 3 to July 14 in Russia's Moscow and Smolensk regions.
Turkey is part of the US-led coalition against Daesh.
Russia imposed economic sanctions on Turkey after it downed a Russian combat plane over Syria’s border with Turkey in November.
Deals include stakes sales in many Russian projects to Chinese firms, an oil supply contract and joint investments in petrochemical projects in Russia.
The SCO is planning to establish a new development bank and a new transport corridor.
Putin, Xi and Elbegdorj are in Tashkent to attend a SCO Summit.
The construction of fuselage and the assembly of the airplanes will take place in China, Rogozin said.
A package of bilateral documents on trade, economy and investment, is expected to be signed during the visit.
