Iran to join BRICS bank shareholders: Deputy minister
Following Iran’s full membership in the BRICS group, the country will join the shareholder members of BRICS bank, announced Mehdi Safari, the deputy foreign minister for economic affairs on Friday.
The president of the New Development Bank of the BRICS group will soon visit our country at the invitation of Iran, said the official, so that we can have a share as a new member of the bank to use its capacities for financing projects, IRNA reported.
Safari noted, “We have favorable relations with BRICS members, as within the framework of BRICS, we can expand trade and economic relations with each other, and the group will improve our trade and financial exchanges.”
Iran’s joining BRICS will strengthen multilateralism and reinforce Iran’s political, economic and commercial power, while weakening unilateralism, the deputy minister said.
“Iran also has advantages for other BRICS countries, including in the science and technology sector, to which the president of Brazil and the prime minister of India referred in their meetings with Iranian President Ebrahim Raeisi.”
“Energy and corridors that connect North to South, and East to West, through Iran are important for BRICS member states because Iran plays a decisive role in providing energy security through the Persian Gulf and the Sea of Oman,” he explained.
The New Development Bank of the BRICS group, which was set up in 2015 to give BRICS members a greater say in financing infrastructure than in Western-led institutions like the World Bank, is keen to attract new members to boost its capital base.
Iran’s membership in the BRICS group of emerging economies is a significant national, regional and international development, which is important both to Iran and BRICS members, including China
and Russia.
In recent years, there has been a lot of focus on Iran’s membership in global political and economic organizations, institutions and groups in order to spur economic growth and provide a ballast in the face of geopolitical and structural changes.
BRICS has gained a special place in Iran’s foreign policy due to its increasing importance in the international political economy and geopolitical developments.
BRICS countries have forged increasing cooperation on agriculture and food security. With its diverse agricultural sector, Iran can benefit from the best methods and joint initiatives through technology exchange with the aim of increasing agricultural production and
distribution.