Medvedev believes the main task the establishment of a financial mechanism of the SCO

Medvedev believes the main task the establishment of a financial mechanism of the SCO


The expansion of trade relations, the SCO has contributed significantly to the increase in the share of national currencies, said Prime Minister of Russia. On the expansion of mutual trade, according to Medvedev, must influence the programme of work of customs services of the SCO.

ZHENGZHOU (China), 15 Dec. Prime Minister Dmitry Medvedev considers a priority the establishment of a financial mechanism of the SCO, he said this during the meeting of the Council of heads of governments of the SCO on Tuesday.

“While the expansion of trade relations, the SCO has contributed significantly to the increase in the share of national currencies. We are doing this. We on the Moscow exchange has launched a pilot project, a pilot platform for trading in currency pairs ruble-yuan and the rouble-tenge without the participation of the dollar, without the mediation of the dollar, and we also invite all to connect to such initiatives”, — said Medvedev.

On the expansion of mutual trade, according to Medvedev, must influence the implementation of the programme of work of customs services of the SCO, designed to last until 2021. The signing is scheduled for after the meeting in China.

When speaking about the development of financial mechanisms of the SCO, Medvedev drew attention to some of the backlog.

“For effective financial support, including concessional loans, here the primary task is the establishment of a financial mechanism of the SCO. We’re really late here, have to think about how to incorporate it into the system, the mechanism that acts in similar structures and which already works — and the Eurasian development Bank and Asian infrastructure investment Bank, and the Interbank Association of the SCO and the silk road Fund, and the new development Bank of BRICS. All these institutions in varying degrees, can spravitsya with the tasks today, we discussed”, — said Medvedev.