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SCO may switch to mutual settlements in national currency

The Shanghai Cooperation Organization may switch to mutual settlements in the national currency. The President of Kazakhstan Nursultan Nazarbayev made this proposal the day before at a meeting of the Council of the Head of the SCO states.

According to him, strengthening of security and development in the organization’s space, as well as the opportunity to consider joint mechanisms for financing of projects should remain the strategic priority of the SCO.

«President of China Xi Jinping voiced a proposal for the development of human resources and training. These proposals should be implemented. We also need to think about a switch to mutual settlements in the national currency. The SCO can implement large investment projects. For example, the implementation of the Eurasian high-speed railway project. Routes can pass also through other countries,» Nursultan Nazarbayev said.