Iran president urges SCO to take concrete steps toward peace, economic cooperation

from PressTV

Iranian President Masoud Pezeshkian says the Shanghai Cooperation Organization (SCO) should take practical and clear steps to promote global peace and economic cooperation.

Pezeshkian was addressing the 25th Meeting of the SCO Council of Heads of State in northern China's port city of Tianjin on Monday.

“The Islamic Republic of Iran believes that the Shanghai Cooperation Organization, as one of the important pillars of the multipolarization of the international system, should take practical, clear, and specific steps in two parallel paths to create a more peaceful world and a world conducive to expanding economic cooperation,” he said.

He proposed the creation of a specialized initiative, the "Accounts and Settlements of the Shanghai Cooperation Organization," as a practical mechanism to enhance financial cooperation and reduce the impacts of unlawful sanctions on the economic interactions among the member states.

He said the initiative rests on greater use of national currencies in settlements to decrease reliance on the US dollar, the establishment of shared digital infrastructure and the employment of central bank digital currencies to ensure secure and efficient payments and the establishment of a multilateral currency swap fund to assist countries facing sanctions or liquidity shortages.

“We believe that the implementation of this initiative can not only enhance the economic resilience of the members but can also turn the Shanghai Cooperation Organization into a successful model for establishing a multipolar, fair, and resilient financial order against external pressures,” the Iranian president added...

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