BISHKEK, October 26. /TASS/. Iran intends to create a transit corridor as part of the Shanghai Cooperation Organization (SCO) to simplify trade between its member countries and the countries of Southeast Asia, First Vice President of Iran Mohammad Mokhber said in Bishkek.

"Iran is a territory of logistics and transit opportunities, and in this regard, we are ready to create a transit corridor for the SCO member countries," he said at a meeting of the Council of Heads of Government of the SCO member states, which was held in an expanded format.

According to the politician, "Iran has already taken important steps as part of the North-South corridor, after the completion of which trade and economic exchange between the countries of Southeast Asia and the states of Central Asia, the Caucasus, Russia, the Black Sea coast and Europe will be simplified."

Creating similar economic routes connecting the countries of the North and South, as well as East and West, is an important task of the SCO, he concluded.

In early July, at the summit of the Council of Heads of State of the SCO, it was announced that Iran would join the ranks of the association’s participants. The Islamic Republic became the ninth member of the organization. Other member countries of SCO are: China, India, Kazakhstan, Kyrgyzstan, Russia, Pakistan, Tajikistan and Uzbekistan

Iran has the third largest proven oil reserves (12% of world reserves) and the world's second largest gas reserves (17%).