Iran\u2019s membership in the BRICS group of emerging economies can make way for the improvement of trade ties and financial exchanges among the member states, says the Iranian deputy foreign minister for economic affairs.<\/p>\n\n\n\n
\u201cWe enjoy very good relations with the five member states of BRICS, namely Brazil, Russia, India, China, and South Africa, and can expand trade and economic cooperation within its framework,\u201d Mehdi Safari said on Friday.<\/p>\n\n\n\n
The Iranian official said President of the New Development Bank (NDB) Dilma Rousseff would travel to Tehran in the near future to discuss Iran\u2019s potential share, as a new BRICS member, in the bank and utilize its capacities to finance projects.<\/p>\n\n\n\n
\u201cThis will be a positive and beneficial step,\u201d the Iranian diplomat said.<\/p>\n\n\n\n
The NDB is a multilateral development bank of BRICS established to mobilize resources for infrastructure and sustainable development projects in emerging markets and developing countries (EMDCs).<\/p>\n\n\n\n
Addressing the 15th BRICS Summit in Johannesburg on Thursday, South African President Cyril Ramaphosa announced that the member states agreed to admit Iran, Argentina, Egypt, Ethiopia, the United Arab Emirates and Saudi Arabia as new members from January 1, 2024.<\/p>\n\n\n\n
BRICS has gained a special place in Iran\u2019s foreign policy due to its increasing importance in the international political economy and geopolitical developments.<\/p>\n\n\n\n
Although US financial sanctions make it difficult for Iran to access the resources of the NDB and the Contingent Reserve Arrangement (CRA), another key BRICS institution, the bloc has adopted various methods under its de-dollarization scheme to provide loans and services to members, which can reduce the impact of sanctions.<\/p>\n\n\n\n
BRICS member states represent virtually 40% of the global population and a quarter of the world\u2019s gross domestic product (GDP).<\/p>\n\n\n\n
\u201cIran\u2019s membership in the BRICS will promote multilateralism and strengthen Iran\u2019s political, economic and trade power and will also weaken unilateralism,\u201d Safari said.<\/p>\n\n\n\n
The official said the issues of Iran\u2019s scientific and technological progress, energy and the corridors connecting North to South and East to West via Iran are important for the BRICS members.<\/p>\n\n\n\n
\u201cIran plays a determining role in ensuring security of the Persian Gulf and the Sea of Oman,\u201d the Iranian official said.<\/p>\n\n\n\n
Experts see BRICS as a viable counterweight to the G-7, a powerful US-led political forum that also includes Canada, France, Germany, Italy, Japan, and Britain.<\/p>\n","protected":false},"excerpt":{"rendered":"
Iran\u2019s membership in the BRICS group of emerging economies can make way for the improvement of trade ties and financial exchanges among the member states, says the Iranian deputy foreign minister for economic affairs. \u201cWe enjoy very good relations with the five member states of BRICS, namely Brazil, Russia, India, China, and South Africa, and […]<\/p>\n","protected":false},"author":4,"featured_media":5159,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[16,2],"tags":[],"class_list":["post-5158","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-iran-news","category-news"],"yoast_head":"\n