Education ministers of the SCO adopted a corresponding decision, the Russian news agency reported on 23 October.
The report said the network university will be founded on the basis of the leading higher educational institutions of the SCO member states.
The SCO member states are Russia, China, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. India, Iran, Mongolia and Pakistan are observers.
Fursenko said the university will focus on four areas - regional studies, ecology, IT-technology and energy. He added that nano-technology could be also added..
The main languages of instruction at the universities will be Russian and Chinese, as well as the state language of the country in which the university is located.
Fursenko noted that the students who graduate from the SCO University will be given an opportunity to continue their education in foreign universities starting from any semester.
The graduates will be awarded the diplomas of the university in which they started their education or completed at least 60% of the study time, and a certificate of the SCO University. It is envisaged that in the future the graduates would be awarded a special diploma of the University of the SCO.
Russian official said the sides will develop and agree legal base for creation of the university and other organizational issues till the end of 2008.