Iran (IMNA) - Addressing the BRICS Business Forum in New Delhi on Friday, Pezeshkian said the true strength of the grouping would emerge when the economic capacities of its members are transformed into practical networks of trade, investment and financing.
He emphasized that strengthening economic resilience requires the diversification of trade partners, financing sources and payment mechanisms, particularly amid growing geopolitical uncertainty and disruptions to global supply chains.
The Iranian president said the increasing use of economic instruments as a means of political pressure has made the global economic environment more complicated. He called on BRICS members to develop mechanisms capable of preventing any country from disrupting legitimate trade by monopolizing financial or technological instruments.
Pezeshkian also proposed greater digitalization and integration of customs procedures, the removal of regulatory and administrative barriers, the expansion of cross-border markets and the facilitation of joint private-sector investment.
He stressed the importance of stronger cooperation on standardization, saying BRICS should move beyond trade in raw materials toward integrated value chains and joint industrial production.
The Iranian president identified food and energy security as key pillars of economic security and said Iran, with its major energy reserves and strategic geographic position, is ready to serve as a strategic partner in BRICS energy, food and transportation supply chains.
Pezeshkian described the expansion of national-currency use in intra-BRICS trade as one of the most important steps toward strengthening economic cooperation. He said this process should be accompanied by mechanisms to manage currency risks and facilitate mutual settlements.
He further proposed that the New Development Bank become a major source of financing for infrastructure and energy projects through special credit lines, local-currency financing and guarantees designed to attract private investment.
Another proposal put forward by the Iranian president was the establishment of a joint BRICS reinsurance company with initial capital of $10 billion. He said such an institution could cover risks associated with major infrastructure and energy projects and increase confidence among private-sector investors.
Turning to emerging technologies, Pezeshkian said BRICS should not limit itself to consuming artificial intelligence technologies. Instead, he called for greater participation by member states in knowledge production and the development of digital-economy standards, alongside stronger cybersecurity measures for critical infrastructure.
He also called on the BRICS Business Council to move beyond serving solely as a platform for dialogue and become an executive engine for economic cooperation. He proposed that its working groups define concrete and measurable projects based on indicators such as growth in intra-BRICS trade, the share of national currencies in trade and the volume of private investment.
Pezeshkian underlined that the Islamic Republic of Iran is ready to work alongside all BRICS members to build a more open, resilient and equitable economy.
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