A Saturday report by Iran’s IRIB News said that a document had been signed a day earlier in the Uzbek capital of Tashkent between representatives of the eight-member SCO and Iran to allow the organization to consider Iran’s accession bid
Uzbekistan’s Foreign Ministry said in a statement that the signing of the protocol would practically allow the implementation of decision by SCO heads of state in Tajikistan last year to provide membership to Iran
The next step in the process will be for Iran to sign a memorandum of commitment at an SCO summit in Uzbekistan’s Samarkand in September 2022, said the statement, adding that SCO heads of states will then decide to include Iran in the bloc.Iran’s February trade up 52% y/y to $9.85bn: IRICAIran posts a 52% increase in the value of foreign trade in the calendar month to late February
Iran was an observer member of the SCO before applying to join the bloc that includes Russia, China, India, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan and Uzbekistan
Experts says Iran’s accession to the SCO will be a major boost to the bloc’s influence in the region mainly because Iran’s massive transportation network can facilitate regional and international trade
Iran is also expected to benefit economically from membership in the bloc. The Iranian customs office (IRICA) said on Saturday that Iranian exports to SCO members had increased by 41% year on year in the 11 months to late February to reach nearly $18.3 billion
IRICA figures showed that Iran had imported $14.4 billion worth of goods from the SCO countries between March 2021 and February 2022, an increase of 31% against the previous similar period