Iran proposes regional currency with Tajikistan to boost trade

Iran has proposed the creation of a common currency with Tajikistan to foster regional economic integration.

According to Sputnik Tajikistan’s Telegram channel, the initiative was put forward by Iranian President Masoud Pezeshkian during a meeting with Tajikistan’s Interior Minister Ramazon Rahimzoda in Tehran.

“This will contribute to the economic development of the entire region,” the Iranian leader said.

The two sides also discussed establishing an organisation to expand cooperation between entrepreneurs in both countries.

The Economic Cooperation Organisation (ECO), comprising countries like Iran, Tajikistan, and others in the region, has been exploring the idea of a common currency to facilitate trade and reduce reliance on external financial systems.

This initiative aims to strengthen economic integration and resilience among member states.

Additionally, Iran has previously proposed similar measures within the Shanghai Cooperation Organisation (SCO) to promote the use of national currencies and develop shared financial systems among member countries. 

In June 2022, Iran's Deputy Foreign Minister for Economic Diplomacy, Mehdi Safari, suggested introducing a single currency for SCO member states to facilitate trade and financial transactions

By Aghakazim Guliyev