Today, July 4th, the 23rd summit of the SCO Heads of State Council is taking place in a virtual format in New Delhi, India, RIA News reports.
In his opening speech at the summit, Chinese President Xi Jinping emphasized the need for SCO member countries to increase settlements in national currencies within the alliance.
"I consider it expedient to increase the share of settlements in national currencies within the organization," said the Chinese leader.
He also highlighted the importance of strengthening cooperation on sovereign digital currencies and the establishment of the SCO Development Bank. The 23rd summit of the SCO Heads of State Council is being held virtually on July 4th in New Delhi.
The SCO is an international organization founded in 2001, consisting of India, Kazakhstan, China, Kyrgyzstan, Russia, Tajikistan, Pakistan, and Uzbekistan. Observer countries include Afghanistan, Belarus, Iran, and Mongolia, while partner countries include Azerbaijan, Armenia, Cambodia, Nepal, UAE, Turkey, and Sri Lanka. The procedure for admitting Iran to the organization was initiated at the SCO summit in Dushanbe in September 2021, and the procedure for admitting Belarus as a member of the SCO was initiated at the Samarkand summit in September 2022.
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