News ID: 316694
Published: 0213 GMT September 28, 2021

SCO membership to help Iran boost trade ties: Joint chamber head

SCO membership to help Iran boost trade ties: Joint chamber head

Head of Iran-Russia Joint Chamber of Commerce said Iran’s membership in the Shanghai Cooperation Organization (SCO) will be a great opportunity for Iran to expand trade with the countries.

According to Hadi Tizhoush Taban, the SCO member states account for 40 percent of the world's population and 28 percent of the world's gross domestic product (GDP), and Iran should benefit from the opportunities that permanent membership in this organization will provide for facilitating trade, according to tccima.ir.

"The three major members of the pact, namely China, India, and Russia, are among the world's top economic powers today, and their position is expected to improve in the coming decades," he said.

Tizhoush Taban further noted that the full membership of Iran in the SCO can also provide the necessary basis and requirements for the implementation of the 25-year strategic agreement between Iran and China.

According to the official, increasing the level of trade, facilitating banking cooperation and a joint energy club are some of the benefits of the Shanghai Cooperation Organization.

China has also proposed a long-term plan to establish a free trade zone and is looking for short-term strategies to increase trade among member states,” he added.

He noted: The purpose of establishing this joint banking council is to facilitate providing the necessary funding required for the implementation of the membersjoint projects.”

The Islamic Republic of Iran was officially accepted into the SCO on September 17 during the 20th anniversary of the establishment of the organization.

 

   
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