Iran’s SCO Development Bank proposal will facilitate trade within organization: Araghchi

Araghchi made the comments in a memo published in Kyrgyz media on Friday, the same day the SCO Council of Foreign Ministers held a meeting in Cholpon-Ata, Kyrgyzstan.

In his memo, the Iranian foreign minister expressed gratitude to Kyrgyzstan for hosting the meeting, which he said provided an effective platform for coordination among members ahead of the summit of heads of state.

He praised the Shanghai Cooperation Organization for its growing role in collective security, economic cooperation, and shaping Eurasia’s geopolitical dynamics, saying that this has turned the SCO into one of the pillars of the regional order.

SCO contribution to fight against terrorism

The organization’s Regional Anti-Terrorist Structure is a key pillar of regional security, facilitating joint exercises, intelligence sharing, and operational coordination. Iran, with its extensive experience in combating drug trafficking, terrorism, and transnational organized crime, can play a key role in strengthening this mechanism. A successful counterterrorism exercise held in Iran in 2025, attended by armed forces from SCO member states, demonstrated confidence in Iran’s security capabilities and commitment to collective efforts for lasting regional stability.

Condemnation of military action against Iran

The SCO has consistently responded to external threats against its members with solidarity and principle. In its September 2025 final statement, members strongly condemned military action against Iran as violating international law, the UN Charter, and Iran’s sovereignty and territorial integrity, the top diplomat wrote.

He said the joint stance demonstrated solidarity with Iran and sent a clear message that unilateral actions will face a coordinated response from regional powers.

Prospect of collective cooperation

“Looking ahead, expanding economic cooperation and developing shared infrastructure are among the key priorities for the Shanghai Cooperation Organization. Iran’s proposal to establish an SCO Development Bank, along with practical initiatives in this area, could help create the necessary financial and monetary infrastructure to facilitate trade and investment among member states,” said Araghchi.

The development of North-South and East-West transit corridors centered on Iran will also help accelerate the integration of transport and energy networks among member states, he noted, adding that cooperation in areas such as agriculture, information technology, renewable energy, and tourism also offers valuable and underutilized potential.

“Through joint planning and by leveraging Iran’s unique position at the heart of Eurasia, such cooperation can help drive regional economic growth and improve the well-being of the peoples of member states.”

“Undoubtedly, drawing on the political will of its members and their complementary capacities, the Shanghai Cooperation Organization will move confidently toward achieving peace, security and sustainable development. The Islamic Republic of Iran, with its strategic geographical position, will also play a pivotal role in this collective endeavor,” the foreign minister concluded./irna