The creation of a unified payment system within the Shanghai Cooperation Organization is being discussed in an informal format, said the organization’s secretary-general Zhang Ming.
According to him, work is currently continuing on increasing the participation of national currencies in mutual agreements, as well as on the transition to free circulation of goods, technologies and services throughout the SCO.
“In 2022, the Samarkand summit was successfully held, at which the idea of increasing the share of settlements in national currencies was adopted. There is also a special working group with the participation of representatives of central banks and state finance ministries. Work along this line is actively progressing. As for non-governmental institutions, our interbank association SCO also deals with this issue. Of course, this is not an easy task. We now face a series of difficulties and much more work needs to be done on political coordination. I am convinced that work in this direction will continue to advance.” — Channel Five quotes the words of the SCO Secretary General.
One of the organization’s main tasks now is to create a more rational and just world order, Zhang Ming said.
