The Islamic Republic of Iran has been accepted as a permanent member of the Shanghai Cooperation Organization (SCO) in the 21st SCO Summit in Dushanbe, Tajikistan, on September 17.
In addition to political and security achievements, Iran's membership in SCO also offers a wide range of economic opportunities to its economic activists and facilitates trade with member states.
Speaking to IRNA, Peyman Pak said Iran’s official membership in the Shanghai Cooperation Organization (SCO) will open a new chapter in developing political, economic, and cultural interactions.
He added that the Iranian economic diplomacy system can take advantage of SCO membership for reducing tariffs, banking system connections, transportation, logistics, and energy transfer.
The SCO provides the member states with a bright future because it can help them end unilateralist policies and change the balance of power in favor of the East (Asia), he noted.
Joining the organization helps Iran foil American attempts to isolate the Islamic Republic because the SCO membership can uphold Tehran's deterrence power. Changing Iran's status will prompt other member-states to back the Islamic country in the face of hostile countries such as the US.
Tehran can also rely on the multilateral mechanism of the SCO to upgrade its regional relationships and expand diplomatic and political exchanges.
Iran can use the organization as a platform to ink bilateral and multilateral financial contracts in a bid to evade the US sanctions. While the West has been trying to prevent Iran from attaining its foreign exchange resources, the full membership paves the way for Iran to use the assets (Source: IRNA).