Pakistani Foreign Minister Ishaq Dar on Tuesday called for a faster shift to cross-border payments in national currencies between the Shanghai Cooperation Organization (SCO) member states.

He told the meeting of SCO heads of government that the regional organization needed to accelerate settlements in national currencies and improve the mechanisms of the SCO Interbank Consortium in order to reduce external financial risks, harmonize cross-border payment systems and simplify trade financing.

The minister presented recommendations to SCO member states aimed at deepening economic cooperation, including intensifying business contacts and expanding partnership with the United Nations and the Association of Southeast Asian Nations.

@Sputnik