Iranian President Masoud Pezeshkian called for the Shanghai Cooperation Organisation (SCO) to take concrete steps toward strengthening economic cooperation among member states during his address at the SCO summit held in China on September 1, the official presidential website reported.

Pezeshkian outlined two key proposals. He called for establishing a foreign ministers' committee to address regional crises and promote peacebuilding, and creating a financial mechanism to mitigate the impact of unilateral sanctions on member economies.

He stressed that the SCO, as a pillar of a multilateral international order, must act decisively to shape a more peaceful and economically resilient world.

The proposed peace committee would convene swiftly at the request of any member state facing a crisis, including threats to sovereignty, and serve as the organisation's strategic and operational arm.

On the financial front, Iran suggested establishing a "Special Accounts and Settlements Initiative" based on three pillars: expanding trade in national currencies, developing shared digital infrastructure, including central bank digital currencies, and creating a multilateral currency swap fund to support members under financial pressure.

Pezeshkian highlighted Iran's strategic role in regional connectivity, noting that the port of Chabahar, located in the southeast of the country, will soon be linked to the national rail network, thereby enhancing access between China, Central Asia, and the Indian Ocean.

"This experience shows that different countries, even with different political, economic and military positions, can interact and cooperate without seeking superiority and from an equal position," he noted.

Pezeshkian stressed that the SCO, particularly among developing countries and emerging economies, can provide practical responses to global challenges, including economic inequality, sanctions pressure, climate change and transnational security crises.

He welcomed the development of cooperation with Global South countries, especially in financial, investment and infrastructure areas, announcing that Iran, with its scientific resources, energy and transit position, is ready to participate in these fields.

The Iranian president described his country's geographical position at the communication centre between East and West as a strategic opportunity for connecting transit lines and integrating Iran into the Belt and Road Initiative. He said Iran's high stability and security strengthen this opportunity.

He invited investors to take advantage of incentives to develop logistics hubs in the area.

The summit took place amid heightened tensions between Iran and Western powers over the potential reactivation of UN sanctions. European signatories to the 2015 nuclear deal have triggered the "snapback" mechanism, raising the possibility of reinstating all previously lifted sanctions within weeks. In a joint statement, SCO member states condemned the June 2025 military strikes by Israel and the United States against Iran and called for renewed dialogue to prevent further escalation.

Pezeshkian cited these attacks, along with the ongoing humanitarian crisis in Gaza and the widespread use of unlawful sanctions, as evidence of the failure of current global governance to uphold peace and justice.