Deputy Prime Minister Ishaq Dar has urged Shanghai Cooperation Organisation (SCO) members to expand national currency use and strengthen regional financial cooperation. Speaking in Dushanbe on Tuesday, he called for measures to protect member economies from international financial shocks. He also proposed establishing new financial institutions to support development across the region. His remarks came during the SCO Council of Heads of Government meeting in Tajikistan.
Dar stressed the need to increase the use of national currencies for financial settlements between member countries. He also called for creating the SCO Development Bank and dedicated development and investment funds. According to Dar, these mechanisms could support regional projects and help economies withstand global financial disruptions.
Read more: Dar, Tajik PM discuss bilateral cooperation, regional connectivity
The Council of Heads of Government serves as the SCO’s second-highest decision-making body. It guides cooperation in trade, finance, economic development, connectivity and social affairs. Dar noted that the organisation had expanded its work over 25 years. He credited mutual trust and respect for diversity as important principles behind its development.
Dar also highlighted the China-Pakistan Economic Corridor as an opportunity for wider regional economic integration. He invited SCO partners to participate in initiatives linked to the corridor. Additionally, he stressed the importance of investment in energy, transport, agriculture, mining, minerals and information technology. He said these sectors could help strengthen regional economic connections.
The Pakistani foreign minister also identified technology and innovation as important areas for future cooperation. He highlighted artificial intelligence, digital transformation, energy cooperation and information security. Dar said investment in transport and energy infrastructure remained essential for deeper economic integration. He also emphasised the role of small and medium-sized enterprises in poverty reduction.
Read more: Dar stresses need to translate SCO’s vision into practical cooperation
During the meeting, Dar recalled priorities outlined by Prime Minister Shehbaz Sharif for the SCO summit scheduled in Islamabad in 2027. These include regional security, trade, connectivity, digital development, climate resilience and sustainable energy. The agenda also includes stronger people-to-people exchanges among member countries.
Before the meeting, Tajik President Emomali Rahmon welcomed Dar and other delegation leaders in Dushanbe. Tajikistan’s leadership highlighted regional economic cooperation, connectivity and shared prosperity. Dar also met Tajik Prime Minister Qohir Rasulzoda and held discussions with other regional leaders. Pakistan assumed the SCO chairmanship last month and is scheduled to host the Council of Heads of State summit in 2027.