Iran’s membership in the BRICS group of emerging economies will be a good opportunity for the country to boost its economic maneuvering power, according to an economics expert.
“Iran’s presence in BRICS can play a role in [boosting] the trade volume between the five [original] member states,” Sabah Zangeneh told IRNA.
He said all BRICS member states have growing economies and make up about 25% of the entire world economy.
All five BRICS members agreed during a Thursday summit in Johannesburg to admit six new members into the bloc, including Iran, Saudi Arabia, Ethiopia, Egypt, Argentina, and the United Arab Emirates.
Iranian President Ebrahim Raisi, who participated in the three-day summit, said after the meeting that the country’s accession to the group will boost its political and economic clout.
Meanwhile, Zangeneh also pointed to global efforts to dethrone the dollar, saying reaching that aim requires certain developments and might take several years.
“National currencies should reach a stage of stability, or a multi-currency formula should be introduced for it so that this formula can calculate the fluctuations of the national currencies,” he added.
