Issues of economic cooperation were discussed at a meeting between Chairman of the EEC Board Mikhail Myasnikovich and SCO Secretary General Zhang Ming in Moscow on March 17. It was decided to strengthen practical joint work in the transport and logistics sector, as well as to stimulate the integration of currency and payment systems for independent cross-border payments.
According to Mikhail Myasnikovich, the economic agendas of the SCO and the EAEU have the potential to complement each other and determine the global landscape. “In 2022, the trade turnover of the EAEU with the SCO amounted to $ 270.2 billion, having increased by more than 40% over the year,” the Chairman of the EEC Board noted.
The parties confirmed their interest in signing a Joint Action Plan for the implementation of the Memorandum of Understanding between the EEC and the SCO Secretariat. The document is at the final stage of approval and its signing is possible in May of this year.
The Head of the EEC Board said that the Commission has prepared a concept for the implementation of a transport and logistics megaproject designed to link together the territory of the Eurasian region. This project is currently being considered in the SCO.
Mikhail Myasnikovich and Zhang Ming stressed the importance of increasing mutual settlements in national currencies and cooperation in the field of integration of currency and payment systems for independent cross-border payments, trade and investment financing.
“There are good developments in the EAEU, by the end of 2022, the share of settlements within the Union in national currencies was 80%. We believe that it is necessary to ensure synchronization of the potentials of the payment and settlement infrastructures of the EAEU and the SCO. We will present our proposals in the near future,” Mikhail Myasnikovich said.
The Chairman of the EEC Board invited the SCO Secretary General to take part in the II Eurasian Economic Forum, which will be held on May 24-25 in Moscow. A special session “EAEU – SCO – BRICS” will be held during the Forum: open integration dialogue”.
The SCO Secretary General, in turn, invited Mikhail Myasnikovich to visit the SCO Secretariat in Beijing on an official visit.
Source: EEC website
