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SCO urges to introduce use of local currencies in mutual financial transactions, settlements

News Desk by News Desk
June 15, 2019
SCO urges to introduce use of local currencies in mutual financial transactions, settlements
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The member states of the Shanghai Cooperation Organization have resolved to accelerate efforts to promote socio-economic and anti-corruption cooperation as well as to introduce the use of local currencies in mutual financial transactions and settlements.           

According to a statement issued by the SCO Secretariat, the heads from the SCO member and observer states underscored to follow the Shanghai Spirit that embodies mutual trust, mutual benefit, equality and mutual consultations.

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The participating leaders emphasized the need for expanding joint efforts to ensure reliable security and sustainable development in the SCO region.  

They reaffirmed the SCO Member States’ commitment to enhancing the central coordinating role of the UN and its Security Council as a body vested with the main responsibility for maintaining international peace and security under the UN Charter.    

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