https://sputniknews.in/20240704/sco-leads-de-dollarization-heralding-new-multipolar-financial-order-7775615.html
SCO Leads De-Dollarization, Heralding New Multipolar Financial Order
SCO Leads De-Dollarization, Heralding New Multipolar Financial Order
Sputnik India
The member states of the Shanghai Cooperation Organization are consistently increasing the use of their national currencies in trade and other economic collaborations.
2024-07-04T15:22+0530
2024-07-04T15:22+0530
2024-07-04T15:22+0530
business & economy
shanghai cooperation organisation (sco)
kazakhstan
vladimir putin
russia
shehbaz sharif
pakistan
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Heads of state the 2024 Summit of the Shanghai Cooperation Organization Called for more economic cooperation, trade and partnerships through the increased use of national currencies.Putin reminded the leaders of the member states of his government's proposal for "creating our own payment and settlement mechanism within the SCO."Pakistani Prime Minister Shehbaz Sharif stressed the need to collectively combat terrorism and extremism.Azerbaijani President Ilham Aliyev, in a meeting with Putin, noted the active cooperation between the two countries' economies and the growing trend of mutual settlements in national currencies.He announced that the share of mutual settlements in national currencies exceeds 70% on exports from Azerbaijan to Russia, and around 50% on Russian exports to Azerbaijan.
https://sputniknews.in/20240111/de-dollarization-india-to-increase-local-currency-trade-with-uae-6159105.html
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shanghai cooperation organisation (sco), kazakhstan, vladimir putin, russia, shehbaz sharif, pakistan
shanghai cooperation organisation (sco), kazakhstan, vladimir putin, russia, shehbaz sharif, pakistan
SCO Leads De-Dollarization, Heralding New Multipolar Financial Order
The member states of the Shanghai Cooperation Organization are consistently increasing the use of their national currencies in trade and other economic collaborations.
Heads of state the 2024 Summit of the
Shanghai Cooperation Organization Called for more economic cooperation, trade and partnerships through the increased use of
national currencies."Our countries are increasing the use of national currencies in mutual settlements," Russian President Vladimir Putin said. "Their share in commercial operations involving Russian participants in organizations already exceeded 92% in the first four months of this year."
Putin reminded the leaders of the member states of his government's proposal for "creating our own payment and settlement mechanism within the SCO."
Pakistani Prime Minister
Shehbaz Sharif stressed the need to collectively combat terrorism and extremism.
"Over the past 23 years, the Shanghai Cooperation Organization has emerged as a credible and effective transregional organization," Sharif highlighted. "This is the right time for the SCO to focus on enhancing the utilization of local currencies to foster economic prosperity collectively."
Azerbaijani President Ilham Aliyev, in a meeting with Putin, noted the active cooperation between the two countries' economies and the growing trend of mutual settlements in national currencies.
"The growth of trade turnover, both last year and this year, demonstrates that the economies of our countries are actively cooperating, and the fact that mutual settlements in national currencies are also on the rise is gratifying," Aliyev asserted.
He announced that the share of mutual settlements in national currencies exceeds 70% on exports from Azerbaijan to Russia, and around 50% on Russian exports to Azerbaijan.
