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Tue, 11/01/2022 - 13:45

Russian PM Calls on SCO to Create Own System to Exchange Financial Data, Make Payments

MOSCOW (Sputnik) - Russian Prime Minister Mikhail Mishustin proposed during a meeting of the SCO Council of Heads of Government on Tuesday to create their own system for exchanging financial information and making bank payments. "Another common task is to achieve independence from the influence of third countries in the financial sector. To do this, we propose to create in the SCO its own system of electronic exchange of financial information and bank payments," Mishustin said. The prime minister also stated that trade between Russia and its SCO partners increased by more than a third in the first eight months of 2022, with agri-food exports rising the fastest. "Trade between Russia and SCO countries rose by more than a third between January and August to exceed $156 billion. We will continue doing our best so that this positive trend progresses and cooperation strengthens in all areas," he told a SCO meeting. Trade in agricultural products, including food, rose by nearly a quarter to $8.5 billion, Mishustin estimated. Heads of government from China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan as well as foreign ministers of India and Pakistan attended the meeting via video conference. Observer states Belarus, Iran and Mongolia as well as Turkmenistan also attended. Read more: