DUHANBE, August 14, Asia-Plus — A delegation of the National Bank of Tajikistan (NBT) led by its head Murodali Alimardonov will take part at the third meeting of the Interbank Association of the Shanghai Cooperation Organization (SCO), which will open in Bishkek, Kyrgyzstan, tomorrow, Asia-Plus has learned at Tajik central bank.
The source at a NBT said six banks are members of the SCO Interbank Association: Kazakhstan Development Bank; Russia’s Bank for Development and Foreign Economic Activity (Vnesheconombank); China development Bank; Kyrgyzstan’s Open Joint-Stock Company (OJSC) “Accounting-Savings Company”; the National Bank of Tajikistan; and Uzbekistan’s National Bank for Foreign Economic Activity.
According to the source, a two-day meeting in Bishkek is expected to end with signing of a Reglament of interaction among member banks of the SCO Interbank Association on selection, examination and implementation of investment projects and an Agreement on cooperation between the SCO Interbank Association and the SCO Business Council.
A Framework Agreement to enhance economic cooperation was signed by the SCO member states on September 23, 2003. At the same meeting China’s Wen Jiabao proposed a long-term objective to establish a free trade area
in the SCO, while other more immediate measures would be taken to improve the flow of goods in the region. A follow up plan with 100 specific actions was signed one year later, on September 23, 2004.
On October 26, 2005, telling the Moscow Summit of the SCO, the Secretary General of the Organization said that the SCO will prioritize joint energy projects; such will include the oil and gas sector, the exploration of new hydrocarbon reserves, and joint use of water resources. The creation of the SCO Interbank Association was also agreed upon at that summit in order to fund future joint projects. The first meeting of the SCO Interbank Association was held in Beijing on February 21-22 2006.
