MOSCOW, June 4. /TASS/. Economies of member-nations of the Shanghai Cooperation Organization (SCO) are developing almost two times quicker than the global pace, Russian Deputy Finance Minister Alexey Lavrov said.

"Economies of states - SCO members are developing at a pace almost twice higher than the global ones. One of the factors is the increase of the domestic turnover and strengthening of mutual ties. The share of SCO countries in the foreign trade turnover of Russia increased twofold over the last three years. SCO countries have become the main partner of our country, and the share of payments in national currencies grew by one and a half times. We believe this trend should be continued and supported. To this end we need to create the independent financial infrastructure, resilient to external effects," the Finance Ministry said on its website after the meeting of SCO finance ministers and central bank governors of SCO members in Beijing on June 3.

The parties discussed key economic trends in SCO during the event. "SCO member-countries unanimously expressed readiness to strengthen interaction and coordination in the macroeconomic policy sphere and to deepen regional financial cooperation, including on issues of developing inclusive digital finances and further expansion of national currencies use," the ministry noted.

Participants in the meeting highlighted importance of cooperating in the sphere of financial infrastructure enhancement to further unlock and strengthen the financial and economic potential of SCO member-countries.

The global economy is experiencing the period of higher uncertainty and profound structural changes, Lavrov said. At the same time, the current situation opens the area for new opportunities for SCO member-countries.

"Participants in the meeting supported the initiative of the Chinese presidency on creation of a network of SCO analytical centers for finance, whose activity may serve as a platform for sharing of knowledge and experience among SCO member-countries, and focus at providing expert support for finance ministries and central banks," the ministry added.