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China-led SCO bloc agrees to expand trade in national currencies

China-led SCO bloc agrees to expand trade in national currencies

Moscow, Sep 16 (Prensa Latina) The leaders of the Shanghai Cooperation Organization (SCO) on Friday agreed to take steps to increase the use of national currencies in trade between their countries, according to a joint declaration adopted on Friday.

During a speech at the SCO Summit, Russian President Vladimir Putin said trade and investment exchanges “are expanding and mutually beneficial trade projects are being implemented in several industries, and agreements with national currencies is growing”, while adding the regional organization is currently working to solve the world’s growing energy and food issues.

Uzbek Foreign Ministry spokesman Yusup Kabulzhanov told reporters that over 40 documents have been signed, Ria Novosti reported.

The press report highlighted that among agreements reached were cooperation on interconnection development and the establishment of efficient transport corridors, as well as a program to boost industrial cooperation.

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