Deputy FM Highlights Financial Benefits of Iran’s BRICS Membership

Deputy FM Highlights Financial Benefits of Iran’s BRICS Membership

TEHRAN (Tasnim) – The Iranian deputy foreign minister for economic affairs said the country’s membership in BRICS will contribute to stronger economic and financial cooperation among the member states of the group.

“We 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,” Mehdi Safari said on Friday.

The Iranian official said President of the New Development Bank (NDB) Dilma Rousseff would travel to Tehran in the near future to discuss Iran’s potential share, as a new BRICS member, in the bank and utilize its capacities to finance projects.

“This will be a positive and beneficial step,” the Iranian diplomat said, Press TV reported.

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).

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.

“Iran’s membership in BRICS will promote multilateralism and strengthen Iran’s political, economic and trade power and will also weaken unilateralism,” Safari said.

The official said the issues of Iran’s scientific and technological progress, energy and the corridors connecting North to South and East to West via Iran are important for the BRICS members.

“Iran plays a determining role in ensuring security of the Persian Gulf and the Sea of Oman,” the Iranian official said.

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