On 22 January 2025, SCO Secretary General Nurlan Yermekbayev within his visit to Moscow met with Deputy Prime Minister of Russia Alexei Overchuk.
Their discussion focused on the trade and economic aspects in the operation of the Shanghai Cooperation Organisation.
Alexei Overchuk emphasised Russia’s view that the SCO has huge development potential and reserves for its use and briefed Nurlan Yermekbayev on the priorities of Russia’s chairmanship of the SCO Council of Heads of Government (Prime Ministers) in 2025.
The SCO Secretary General stated that the success of cooperation in all areas of SCO’s operation largely depended on the efforts of the so-called field-specific mechanisms or conference of the heads of ministries and departments, as well as non-governmental institutions such as the SCO Business Council and Interbank Consortium. He added that there were methods to enhance the operational effectiveness of these mechanisms.
The officials also exchanged views on the use of national currencies for mutual settlements and the elaboration of a formula for financing projects within the framework of the Organisation. They expressed conviction that Russia would give a fresh impetus to the development of trade and economic cooperation within the SCO during its chairmanship of the SCO Council of Heads of Government and the Council of External Trade and Economy Ministers.