BISHKEK, Kyrgyzstan, October 26. Kyrgyzstan stressed the importance of creating the Shanghai Cooperation Organization (SCO) development bank and development fund, Trend reports.
Akylbek Japarov, the Chairman of the Cabinet of Ministers of Kyrgyzstan, emphasized this during an extended meeting of the SCO Council of Heads of Government in Bishkek.
He said that the discussion about establishing the SCO development bank and development fund has been ongoing for a long time.
“These structures would directly support the implementation of joint projects and the gradual increase of the share of national currencies in mutual settlements among SCO member states,” Japarov pointed out.
He expressed hope for reaching a consensus on this matter. Japarov also highlighted that the development of economic cooperation is a top priority.
He emphasized the importance of strengthening cooperation in various areas of mutual interest, including trade, manufacturing, energy, transportation, investment, finance, agriculture, customs, telecommunications, and the development of artificial intelligence technology.
Additionally, Japarov mentioned that the combined population of the SCO member countries exceeds 3.3 billion people, which accounts for over 42 percent of the world's population. The GDP based on purchasing power parity exceeds $45 trillion.
The meeting of the SCO Council of Heads of Government in Bishkek is attended by the Prime Ministers of Belarus, Kazakhstan, Mongolia, Russia, Tajikistan, Uzbekistan, the Premier of the State Council of China, the Deputy Prime Minister of Turkmenistan, and the Foreign Ministers of India and Pakistan.