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Medvedev urges to consider increase in share of settlements in SCO national currencies

Russian Prime Minister emphasized that SCO has proved to be an efficient platform for discussing national development strategies

© Alexander Astafyev/POOL/TASS

TASHKENT, November 2. /TASS/. Russian Prime Minister Dmitry Medvedev considers it necessary to address Kazakhstan’s initiative to raise the share of mutual settlements in national currencies within the Shanghai Cooperation Organization (SCO).

"It is very important to address the issues of financial infrastructure as well. I would like to focus on the proposal of the Kazakh side to draft particular steps on the shift to mutual settlements in national currencies within the Shanghai Cooperation Organization (SCO)," he said at the extended meeting of the SCO Council of Heads of Government on Saturday. "That is a good initiative, which should be addressed," Medvedev added.

Russian PM invited financial and banking experts from SCO member-states to participate in a round table focusing on that issue, which will be held in early 2020 in Moscow. "We suggest there will be particular results there, which will enable us to use those means of settlement that are up-to-date and relevant in today’s trade conditions," he explained.

Medvedev emphasized that SCO has proved to be an efficient platform for discussing national development strategies, with one of the areas being the initiative of the big Eurasian partnership with the participation of China, India, Pakistan, Iran, CIS countries and some other states. He added that the Agreement on trade and economic cooperation between EAEU and China came into force on October 25. The talks on a similar document with India are planned to be launched shortly. Moreover, the preferential trade agreement between EAEU and Iran has been inked, and the creation of a free trade zone with India is being negotiated.

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