SCO Urged to Lead Initiatives for a More Peaceful World
At the recent 25th Summit of the Shanghai Cooperation Organization (SCO) in Tianjin, China, Masoud Pezeshkian emphasized the importance of strengthening financial cooperation among member nations to combat the adverse effects of illegal sanctions. The Islamic Republic of Iran has proposed the enhancement of the initiative called ‘Special Accounts and Settlements of the Shanghai Cooperation Organization’ as a practical mechanism for this purpose.
Pezeshkian outlined that this initiative is based on three fundamental pillars aimed at fostering financial collaboration:
- Expanding Settlements in National Currencies: A focus on reducing reliance on the US dollar in transactions among member states.
- Launching Joint Digital Infrastructures: The use of central bank digital currencies (CBDCs) for secure and swift payments.
- Creating a Multilateral Currency Swap Fund: This fund is intended to support countries facing pressures from sanctions.
“The Shanghai Cooperation Organization is a symbol of the peace-seeking and peace-loving nature of its members in a world that faces a new crisis every day,” Pezeshkian stated. He referenced the illegal military aggression against Iran by the Zionist regime and the United States, along with the ongoing humanitarian crisis in Gaza, as examples of the contemporary world’s failure to achieve effective global governance.
He further elaborated, “Since its establishment, the Shanghai Cooperation Organization has focused on principles of mutual trust, equality, and respect for cultural diversity. Its main objective has been to ensure collective security and enhance cooperation across various fields.” Pezeshkian asserted Iran’s commitment to actively contribute to these goals.
Pezeshkian highlighted that the SCO must take concrete steps towards creating a more peaceful world while also preparing for enhanced economic collaboration. He proposed two essential efforts to support this vision:
- Peacebuilding Efforts: The establishment of a committee comprising foreign ministers from member states to formulate operational proposals for crisis management.
- Strengthening Financial Cooperation: To mitigate the impact of unilateral sanctions on economic interactions among members.
Regarding peacebuilding, Pezeshkian suggested that the committee should convene promptly in response to any crises that threaten regional peace and security. This committee would act as the operational arm of the SCO, especially when a member state’s sovereignty is at risk, ensuring immediate support is provided.
In terms of financial cooperation, Pezeshkian reiterated Iran’s proposal to reinforce the Special Accounts and Settlements initiative. This initiative aims to:
- Facilitate transactions in national currencies, thereby decreasing dollar dependence.
- Establish digital infrastructures for secure payments using CBDCs.
- Launch a currency swap fund to assist countries experiencing liquidity crises.
He stated, “We believe that the implementation of this initiative can not only increase the economic resilience of the members but also transform the SCO into a successful model for a multipolar and equitable financial order.” Pezeshkian stressed Iran’s support for initiatives aimed at countering security threats, creating a center for drug trafficking prevention, developing rapid-response mechanisms during crises, and expanding the organization’s official languages.
The Iranian government, leveraging its unique geopolitical and transit position, is prepared to facilitate regional cooperation and provide access for interested nations. Pezeshkian announced that the Chabahar port on the Indian Ocean is set to be linked to Iran’s nationwide railway network, creating significant opportunities for connecting China, Central Asian countries, and Afghanistan to the Indian Ocean. He encouraged investors to take advantage of various development projects and incentives in this port.
Finally, Pezeshkian expressed that the implementation of the ten-year development strategy of the Shanghai Cooperation Organization presents a historic opportunity for expanding cooperation in infrastructure, technological advancement, energy, the digital economy, environmental issues, culture, and science. Iran is eager to play an active role in realizing these strategic objectives.
In conclusion, the initiatives proposed by Pezeshkian highlight Iran’s commitment to fostering peace and financial cooperation within the Shanghai Cooperation Organization, aiming to build a robust framework for collective security and economic resilience among member nations.
Source: MNA/6576357
