TASHKENT (TASS) — Heads of governments of Shanghai Cooperation Organization (SCO) member countries have started the meeting in the narrow format.

SCO Council Nov. 2019

Russia is represented by Russian Prime Minister Dmitry Medvedev and Deputy Foreign Minister Igor Morgulov.
(© Alexander Astafyev / POOL / TASS)

The heads of delegations will approve the new version of the Program for bilateral trade and economic cooperation between SCO member countries until 2035.

Russia is represented by Russian Prime Minister Dmitry Medvedev and Deputy Foreign Minister Igor Morgulov. Uzbekistan’s delegation is headed by Prime Minister Abdulla Aripov and national coordination for SCO Rahmatulla Nurimbetov. India is represented by its Defence Minister Rajnath Singh and Deputy Foreign Minister Anumula Gitesh Sarma.

Kazakhstan is represented by Prime Minister Askar Mamin and Minister of National Economy Ruslan Dalenov. The Chinese delegation is led by Premier of the State Council Li Keqiang and Deputy Foreign Minister Le Yucheng. Kyrgyzstan is represented by Prime Minister Muhammedkaly Abylgaziyev and Minister of Economy Sanjar Mukanbetov. Pakistan’s delegation is led by Foreign Minister Shah Mehmood Qureshi and national coordinator for SCO Ahmed Zahur. Tajikistan is represented by Prime Minister Kokhir Rasulzoda and Minister of Economic Development and Trade Nematullo Hikmatullozoda.

Medvedev urges to consider increase in share of settlements in SCO national currencies
Russian Prime Minister Dmitry Medvedev considers it necessary to address Kazakhstan’s initiative to raise the share of mutual settlements in national currencies within the SCO. he said at the extended meeting:

It is very important to address the issues of financial infrastructure as well. I would like to focus on the proposal of the Kazakh side to draft particular steps on the shift to mutual settlements in national currencies within the Shanghai Cooperation Organization […] ]That is a good initiative, which should be addressed.

Russian PM invited financial and banking experts from SCO member-states to participate in a round table focusing on that issue, which will be held in early 2020 in Moscow. “We suggest there will be particular results there, which will enable us to use those means of settlement that are up-to-date and relevant in today’s trade conditions”, he explained.

Medvedev emphasized that SCO has proved to be an efficient platform for discussing national development strategies, with one of the areas being the initiative of the big Eurasian partnership with the participation of China, India, Pakistan, Iran, CIS countries and some other states. He added that the Agreement on trade and economic cooperation between EAEU and China came into force on October 25. The talks on a similar document with India are planned to be launched shortly. Moreover, the preferential trade agreement between EAEU and Iran has been inked, and the creation of a free trade zone with India is being negotiated.