Iran’s Economic Ties to Develop after BRICS Membership: Official
TEHRAN (Tasnim) – Iran’s BRICS membership is important for the country and will help develop trade and economic ties following its accession to the Shanghai Cooperation Organization (SCO) and agreement with the Eurasian Economic Union (EAEU), a member of Iran Chamber of Commerce said.
Speaking to IRNA on Tuesday, member of the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Seyed Hamid Hosseini hailed Iran’s membership in BRICS group of emerging economies, noting that participating in regional and international organizations is necessary for Iran.
Membership in BRICS is considered as an important move for Iran after its entry into the Shanghai Cooperation Organization and agreement for doing free trade with the Eurasian Economic Union (EAEU), he reiterated.
BRICS is of paramount importance for the country since this group accounts for 42 percent of the world population and also holds about 30 percent of gross national product (GDP) in the world, he said, adding, “In addition, BRICS accounts for 20 percent of the world trade.”
Iran took effective measures to join BRICS in 2015 but the current developments in the international arena enhancd the possibility of the membership of Iran, the United Arab Emirates (UAE), Saudi Arabia and some other countries in the group.
The BRICS group, consisting of Brazil, Russia, India, China and South Africa, started its activity officially in 2019.
In the latest BRICS Summit, held in Johannesburg, South Africa, last week, six countries including Argentina, Ethiopia, the United Arab Emirates (UAE), Iran, Saudi Arabia and Egypt were invited to join the group.