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Iran backs Eurasian cooperation for trade and investment

Tehran, Jul 4 (Prensa Latina) Iran's acting President Mohamad Mojber proposed on Thursday to establish a network of trade zones and economic pacts in the Eurasian region, using the strengths of the Shanghai Cooperation Organization (SCO).

As reported here by IRNA news agency, the head of State outlined the country’s vision at a meeting of the SCO Council of Heads of State, whose deliberations ended Thursday in Astana, the capital of Kazakhstan.

Mojber stressed the need to use the vast opportunities and existing capabilities among the SCO territories to increase interaction in production, energy, transport, agriculture, customs, telecommunications and development of technologies in the field of artificial intelligence.

This, he deemed, will contribute to the welfare of nations and the consolidation of lasting peace and inclusive development in the region and across the globe.

“We believe that SCO members, through the North-South corridor and Iran’s southern ports, can conduct trade exchanges with the other countries of the world at a lower cost and faster,” he exemplified.

He said the activation of transit corridors will play a key role in facilitating trade, promoting economic development and ensuring political stability in SCO member States.

At the end of the event, a statement was signed in which the members of the intergovernmental organization reaffirmed their commitment to building a new type of international relations based on multilateralism and opposition to the confrontational mentality in resolving differences.

The grouping currently has 10 member States (China, India, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Russia, Tajikistan, Uzbekistan and Belarus), two observer States and 14 dialogue partners.

The SCO countries are home to almost half of the world’s population and their combined Gross Domestic Product (GDP) is equivalent to approximately 25% of global GDP.