Iran Playing Role in Defining Economic Structures for BRICS: TPOI Chief

Mehdi Zeyghami said that BRICS (consisting of Brazil, Russia, India, China and South Africa) was established wih the aim of countering G-7 (group of seven developed nations) and becoming the world’s first economic powerhouse.

BRICS was first set up politically and its trade and economic trend was strengthened two years ago, the deputy industry minister said. 

“Today, Iran is the member of three important organizations, namely the Eurasian Economic Union (EAEU), the Shanghai Cooperation Organization (SCO) and BRICS.”

A memorandum of understanding (MoU) will be signed in the very near future on trade with the Eurasian Economic Union, which will be a fruitful experience for the country, Zeyghami underlined.

Stressing the need to sign Iran’s BRICS membership at the Parliament, the deputy industry minister stated, “We need to get an approval letter from the Parliament aimed at fulfilling economic commitments.”

Elsewhere in his remarks, the TPOI chief said that Iran has established amicable ties with India, China, Russia, South Africa and Brazil and can kick off preferential trade within the framework of BRICS like the Eurasian Economic Union.

He pointed to the current approach taken by the Iranian government for the development of international relations and cooperation with neighbors and said the number of Iran’s commercial envoys has risen from five to 22 in line with boosting trade activities with the world.

Presently, using local currencies and e-commerce are among the main objectives of BRICS and the member states are compiling a strategy for interacting and launching a preferential tariff system, and Iran can play a very influential role in this respect, Zeyghami maintained.