One of the main discussion points at this year's SCO meeting is increasing mutual trade in local currencies. Avoiding intermediary currencies would decrease expenses and increase the competitiveness of the economies of the SCO countries. CGTN's Aljoša Milenković has more. 

We drove for five hours through the breathtaking steppes of Kazakhstan to reach one of the most interesting uranium mines in the world. For dozens of kilometres around us, there is not a single human settlement.

Only birds, wind, and a lot of groundhogs like this one hiding in the grass. Uranium is extracted here by pumping a special solution into the roughly 100-metre-deep wells. At the well's bottom, the solution dissolves the uranium and brings it to the surface for further processing.

Aljoša Milenković, Semizbay Uranium Mine "Deep in the steppes of Kazakhstan, this company is boring three more wells. After all exploration works are done, these three wells will help increase the production of much-needed uranium."

Uranium production is one of Kazakhstan's most important export industries. Their biggest buyers are in western Europe, North America and now, China. Till now they haven't started selling their uranium in local currencies, for a very simple reason.

MEIRZHAN YUSSUPOV, CEO, NAC Kazatomprom JSC "Well, we haven't thought about this because we are listed on the London Stock Exchange. So, when our investors ask questions – and we answer all those questions – yet they say they are more comfortable selling in US dollars."

But the country's national bank has a clear advice for all local export companies: trading in national currencies is more beneficial to the local economy.

TIMUR SULEIMENOV, Chairman, National Bank of Kazakhstan "We don't want to overly politicize this issue. It's pure commerce, it's pure business. I mean, if you go through euro, dollar, I don't know, or any other currency of the world, Swiss franc, you have to pay twice. That's because you convert into one of the hard currencies, and then you have to reconvert into your partner's currency – and you're losing money on both fronts."

The coming Astana summit will address this issue, even though there are many obstacles that need to be crossed.

TIMUR SULEIMENOV, Chairman, National Bank of Kazakhstan "It is not an easy job by all means, because the SCO countries have different currency regimes, different regulations and different laws. To bring all under one umbrella – that is, trading in local currencies – is a formidable task."

With further expansion of the SCO format, this would be an even more difficult task. However, experts say the benefits are well worth the trouble. Aljoša Milenković, CGTN, Semizbay mine in the steppes of Kazakhstan.