Pezeshkian at the SCO Summit: Practical Steps Needed for Peace and Economic Cooperation

WANA (Sep 01) – The 25th Summit of the Shanghai Cooperation Organization (SCO) was held on Monday, August 31, in Tianjin, China, where Iran’s President highlighted the organization’s role in shaping a more peaceful and fairer world.

Masoud Pezeshkian, referring to the recent military attack on Iran and the ongoing crisis in Gaza, said these events clearly reflect the failure of the current global order to ensure peace and security. He stressed that the SCO, as one of the key pillars of building a multipolar international system, should follow two parallel paths: “establishing mechanisms for peacebuilding” and “strengthening financial cooperation to counter sanctions.”

Group photo of SCO leaders at the opening of the summit in Tianjin, China. Social Media / WANA News Agency

Pezeshkian proposed forming a committee of foreign ministers from member states to quickly respond to regional crises, particularly when the sovereignty of a member state is violated. He also introduced the initiative of “SCO Special Accounts and Settlements,” based on three pillars:

•  Expanding settlements in national currencies to reduce dependency on the dollar,
• Creating shared digital infrastructure and using central bank digital currencies for secure and fast payments,
• Establishing a multilateral currency swap fund to support countries under sanctions or liquidity crises.

Pezeshkian at the SCO Summit. Social Media / WANA News Agency

According to the president, implementing this initiative would not only boost members’ economic resilience against external pressures but also turn the SCO into a successful model of a multipolar and fair financial order.

Pezeshkian also underlined Iran’s potential to enhance regional cooperation, announcing the imminent connection of Chabahar Port on the Indian Ocean to Iran’s nationwide railway network. This project, he said, would link China, Central Asia, and Afghanistan to the Indian Ocean, while inviting investors to participate in its development and set up logistics hubs in the port.

Iran’s Foreign Minister Seyed Abbas Araghchi attending the 25th SCO Summit alongside President Masoud Pezeshkian. Social Media / WANA News Agency

He further expressed Iran’s support for initiatives such as establishing specialized centers to counter security threats, setting up a narcotics control center, and developing rapid-response mechanisms for crises.

Concluding his remarks, Pezeshkian reaffirmed Iran’s alignment with Chinese President Xi Jinping’s vision of a “Global Governance Initiative,” describing it as an important step toward a fairer international order.

Signing of the Shanghai Cooperation Organization (SCO) summit documents by the President of Iran. Social Media / WANA News Agency