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SCO intends to consistently expand mutual settlements in national currencies

Photo by Omer Salom on Unsplash

He made a statement to this effect at the Hainan Boao Asian Forum.

“Today the agenda includes the implementation of a road map for a gradual increase in the share of national currencies in mutual settlements of the SCO member states,” he was quoted as saying by TASS.

He emphasized that an important factor for development of intraregional trade and investments between the SCO member states is “consistent expansion of the use of national currencies by the member states”.

Zhang Ming emphasized that the process will be conducted “in accordance with norms and principles of international law taking into account national interests of all SCO members.

Earlier Russian Deputy Foreign Minister Andrei Rudenko said that the Russian side expects increased use of national currencies in settlements with China for energy supplies..

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