TEHRAN — Iranian First Vice President Mohammad Reza Aref has called on members of the Shanghai Cooperation Organization (SCO) to turn their economic potential into concrete joint projects, accelerate the establishment of an SCO Development Bank and expand cooperation in trade, energy, transportation and digital technology.

Addressing the SCO Council of Heads of Government in Tajikistan’s capital, Dushanbe, on Tuesday, Aref said the organization needed to move beyond political commitments toward practical initiatives that deliver tangible benefits to member states and their populations.
He also condemned the US-Israeli military aggression against Iran, describing it as a violation of the United Nations Charter, international law and the sovereignty of an independent state. He warned that attacks on civilian infrastructure and economic facilities, as well as disruptions to trade, energy supplies and transportation networks, could have consequences extending far beyond the country directly affected.

Turning economic potential into practical cooperation

Aref said the SCO had developed into a major regional organization over its 25-year history, with substantial capacities in trade, investment, energy, transportation, science, technology, culture and humanitarian affairs.

However, he stressed that the organization's effectiveness depended on its ability to translate these capacities into joint investment, expanded commercial exchanges and sustainable economic development.

In the face of regional and global challenges, he said, member states needed closer cooperation, stronger connectivity, diversified economic relations and greater resilience against external shocks.

Aref reaffirmed Iran's readiness to contribute its experience and capabilities to the organization's economic, financial and infrastructure initiatives, emphasizing that cooperation should be inclusive and based on mutual respect, shared interests and equality.

He also called for stronger participation by the private sector, arguing that political agreements alone would not be sufficient to achieve the SCO's economic objectives without effective institutions, reliable financing and operational mechanisms.

Iran calls for faster establishment of SCO Development Bank

Expanding financial and banking cooperation was a central theme of Aref's address.

He said Iran supported greater use of national currencies in trade among SCO members, closer connections between their banking infrastructures, the development of national financial messaging systems and the establishment of independent payment and settlement mechanisms.

Aref called for accelerating work on the proposed SCO Development Bank, urging member states to move from negotiations toward operational planning.

The bank, he said, could help finance joint projects, address payment-related challenges and reduce risks arising from sanctions and financial restrictions. He emphasized that the institution should enjoy the greatest possible independence from financial systems used by countries to pursue unilateral advantages.

The Iranian vice president also called for expanding export insurance and investment-risk coverage to give private companies greater confidence in participating in joint projects.

He highlighted the role of the SCO Business Council and Interbank Consortium in facilitating investment, strengthening cooperation among member states' banks and developing alternative payment mechanisms.

Iran, he said, was prepared to contribute its expertise through these institutions.

Aref also called for speeding up admitting Bank Keshavarzi, an Iranian agricultural bank, to the Interbank Consortium. He welcomed the consortium's development strategy for 2027–2031 and the adoption of a roadmap for sustainable and social financing, describing these initiatives as important steps toward more effective financial cooperation.

Digital economy and technology cooperation

Aref identified the digital economy as another major area in which SCO members could deepen cooperation and strengthen their collective economic position.

He proposed greater exchanges of expertise in artificial intelligence, e-commerce, financial technology, e-government, digital services and data infrastructure.

Joint projects, cooperation among innovative companies and startups, and the exchange of specialized personnel could help connect the scientific and technological capabilities of member states, he said.

The Iranian vice president also called for strengthening the SCO Digital Economy Forum, developing regional value chains and expanding industrial cooperation and technology transfer.

Regional transport corridors and energy security

Aref emphasized the importance of improving regional and international transport corridors to facilitate trade, reduce logistical costs and strengthen connectivity among SCO members.

Iran, he added, was ready to play an active role in regional transport corridors and support initiatives to improve their efficiency.

He also proposed greater use of maritime and port facilities, more efficient customs procedures and the electronic exchange of transport and trade documents. Digitalizing these processes, he said, could reduce both the time and cost of commercial transactions.

On energy, Aref called for moving beyond dialogue toward deeper practical cooperation, including the establishment of an SCO Energy Consortium.

He said such a body should cover not only oil and gas trade but also energy production, transmission and distribution, infrastructure security, financing, technology and renewable energy.

Effective implementation of the SCO's energy cooperation strategy through 2030 should be accompanied by joint projects, he said, adding that energy security must remain a priority during the transition toward new energy sources.

Aref also expressed Iran's readiness to share its scientific and technological capabilities with member states, particularly in improving productivity, developing knowledge-based companies and reducing carbon emissions in the oil and gas industries.

Food security and humanitarian cooperation

The Iranian vice president proposed establishing an SCO working group on agriculture and food security to improve the exchange of information, anticipate potential food crises and reduce vulnerabilities to fluctuate supply and demand.

He also identified water-efficient agricultural practices, water recycling, combating desertification and the use of renewable energy in agriculture as areas offering significant opportunities for joint initiatives.

Concluding his remarks, Aref called for a more effective and inclusive SCO capable of delivering practical results across economic, technological, cultural and humanitarian fields.

The meeting in Dushanbe was held under Tajikistan's chairmanship and focused on strengthening trade, economic, cultural and humanitarian cooperation, as well as improving the organization's effectiveness. Aref expressed confidence that closer coordination among member states could help turn the SCO's geographical and economic advantages into a lasting foundation for regional prosperity.