Iran's Pezeshkian urges BRICS to turn economic weight into real projects
Iranian President Masoud Pezeshkian has called on BRICS members to turn the bloc’s economic influence into concrete trade, investment and financing projects, saying its strength should be reflected in factories, ports and people’s livelihoods.
Speaking in New Delhi ahead of the 18th BRICS Summit, Pezeshkian said geopolitical uncertainty, supply-chain disruptions and the use of economic pressure had made closer cooperation increasingly important.
“We believe BRICS will become a real force in the global economy when the results of our cooperation are reflected in contracts, factories, ports, and the economic lives of the peoples of our countries,” he said.
He called for greater use of national currencies in trade between member states, backed by mechanisms to manage currency risks and settlements.
Pezeshkian also urged the BRICS New Development Bank to expand local-currency financing for infrastructure and energy projects, while proposing a joint reinsurance company with initial capital of $10 billion to support major investments.
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He called for streamlined customs procedures, fewer regulatory barriers and greater private-sector participation across the bloc.
The Iranian president said Iran was ready to use its energy resources and geographical position to strengthen BRICS food, energy and transport supply chains.
This story is written and edited by the Global South World team, you can contact us here.
