Russian PM proposes transition to national currencies in settlements between SCO countries
BAKU, Azerbaijan, Nov. 2
By Fakhri Vakilov - Trend:
Russia supports proposals on the need for countries participating in the Shanghai Cooperation Organization (SCO) to switch to settlements in national currencies, as was stated by Russian Prime Minister Dmitry Medvedev at an expanded meeting of the SCO Council of Heads of Government in Tashkent, Trend reports citing Uzbek media.
Such an initiative, he said, was made by Kazakhstan.
“It is very important to highlight the issues of financial infrastructure. I want to draw attention to the proposal of the Kazakh side to develop specific steps to switch to mutual settlements in national currencies within the SCO. This initiative needs to be worked out,” Medvedev said.
The Russian prime minister expects that specific recommendations of experts on this issue will allow the SCO countries to "use modern and relevant means of settlement in the current trading conditions."
The 18th meeting of the Council of Heads of Government of the Member States of the SCO is being held on Nov. 1-2 in Tashkent.
The agenda of the meeting included projects of more than 10 documents.
The event will discuss current issues on the agenda of the Council of Heads of Government of the SCO member states, as well as prospects for further strengthening and developing cooperation within the organization.
During the meeting, the heads of government will also exchange views on pressing issues of the international and regional agenda.
The meeting participants plan to approve the draft new version of the SCO multilateral trade and economic cooperation program.
Follow author on Twitter:@vakilovfaxri