TIANJIN, 1 September (BelTA) - In today’s geopolitical environment, the need for an independent financial mechanism within the SCO becomes evident, Belarusian President Aleksandr Lukashenko said during his speech at the SCO summit in Tianjin, China on 1 September, BelTA has learned.
“In today’s geopolitical climate, where unilateral sanctions have become a destabilizing factor, the need for an independent financial mechanism within the SCO is evident. Such a mechanism should be capable of financing cross-border projects, mitigating the impact of sanctions, encouraging the use of national currencies in trade, and supporting the development of key areas of cooperation: from logistics and energy to digital transformation and artificial intelligence,” Aleksandr Lukashenko stated.
He stressed that Belarus supports the idea of establishing a SCO Development Bank, emphasizing that such an institution would strengthen economic ties and represent a significant step toward regional economic sovereignty. “But we all understand that the benefit of this bank will only be real if it can operate effectively in every country of the ‘Shanghai family’,” the head of state noted.
The president also welcomed the intensification of dialogue to simplify trade procedures within the SCO, stating that such efforts would help reduce barriers, boost trade and encourage cross-border investment.
“Today, trade among SCO countries has already exceeded $2 trillion, but these figures are far from the limit. Settlements in national currencies, the creation of joint funds, and investments in the digital economy and green technologies will remain at the center of our attention,” the Belarusian leader believes.
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