Iran’s acting pres. suggests discussing SCO single currency

Iran’s Acting President Mohammad Mokhber has offered that introduction of single the currency of Shanghai Cooperation Organization (SCO) based on groundbreaking technologies should be seriously discussed.

News ID: ۸۵۱۶۷۰

05 July 2024

EghtesadOnline: "Beefing up the economic cooperation between member states may become one of the major steps aimed at strengthening the SCO’ role globally and in the region. This includes expansion of the use of national currencies or [the creation] of common currency based on groundbreaking technologies, which is of the utmost interest and a serious cause for discussion," he said at a meeting in ‘SCO plus’ format, according to TASS.

Tehran views the SCO as a major instrument for increasing the factor of multilateralization in the region and it is committed to expansion of agreements for "strengthening the strategic regional cooperation with the SCO’s central role," Mokhber said.

An intergovernmental agreement on the creation of the multimodal transport corridor North-South spanning 7,200 km was signed by Russia, India and Iran in 2000. Later, the number of participants rose to 14. The project is aimed at attracting transit of cargo flows from India, Iran and the Persian Gulf countries through Russian territory to Europe. Currently the project unites several various transport systems of separate countries.

The SCO was founded on June 15, 2001 in Shanghai. Initially the organization included Russia, Kazakhstan, Kyrgyzstan, China, Tajikistan, and Uzbekistan, while in 2017 they were joined by India and Pakistan. Iran applied to join in 2008 and became a full-fledged member of the organization in July 2023, the report added. / Mehr