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Belarus calls on SCO to encourage settlements in national currencies

An archive photo

MINSK, 24 July (BelTA) – Belarus calls for completing the establishment of the Shanghai Cooperation Organization’s Development Bank as an independent financial institution, as well as encouraging settlements in national currencies across the organization’s space, Belarusian Minister of Foreign Affairs Maxim Ryzhenkov said at a meeting of the Council of the Ministers of Foreign Affairs of the Shanghai Cooperation Organization member states in Cholpon-Ata, Kyrgyzstan, on 24 July, BelTA has learned.

During his address, Maxim Ryzhenkov outlined Belarus’ proposals for further improving the organization. He first spoke in favor of increasing the effectiveness of the SCO and its structures, calling for the completion of the Development Bank’s establishment as an independent financial institution and for encouraging settlements in national currencies.

The Belarusian side also considers it important to speed up the launch of the SCO Anti-Drug Center and the Universal Center for Countering Security Challenges and Threats, as well as to develop the practice of issuing joint statements on behalf of the SCO at international forums.

Maxim Ryzhenkov emphasized that Belarus stands ready to engage fully in collective work aimed at boosting the organization’s efficiency, safeguarding its institutional memory, and updating its treaty and legal base.

Following the meeting, the foreign ministers adopted a joint statement and signed several decisions related to preparations for the upcoming meeting of the SCO Heads of State Council and current matters concerning the organization’s activities.

The heads of delegations also took part in a ceremony of jointly painting a picture depicting a tree with ten trunks, symbolizing the close bonds between the nine SCO member states and its Secretariat.

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