SCO calls on countries to increase the share of national currencies in mutual settlements

01 November 2022


Member countries of the Shanghai Cooperation Organization (SCO) should increase the share of national currencies in mutual settlements to promote the free movement of goods, services and technology, SCO Secretary-General Zhang Ming said on Tuesday, speaking at a meeting of the Council of Heads of Government of SCO member states.


"By expanding the use of local currencies in mutual settlements, synchronizing customs systems and promoting inter-regional trade, [it is] necessary to gradually move towards the free movement of goods, capital, services and technology," he said in a document distributed by the SCO secretariat.


The meeting was held via videoconference and was chaired by Premier of the State Council Li Keqiang. Russia was represented by Prime Minister Mikhail Mishustin. Heads of governments of Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan also participated. India and Pakistan were represented by their foreign ministers. Observer states Belarus, Iran, and Mongolia also joined. At the invitation of the Chinese side, Turkmenistan also participated.

 

 

GSV "Russia - Islamic world"

Photo: sco-russia2020.ru/Creative Commons 4.0

Based on materials from TASS