Dr. Abbas Araghchi, Iran's Foreign Minister, elaborated on BRICS's plans regarding trade with national currencies in a special meeting. He pointed out the positive impacts of India's presidency over this bloc and its new approach to trade exchanges.
New Outlook for BRICS
Araghchi stated that BRICS is recognized as an emerging economic entity on a global scale, emphasizing that the use of national currencies in trade can help strengthen the economic independence of the member countries of this bloc. This approach becomes particularly significant in the current conditions where currency fluctuations and economic sanctions cast a shadow over the global economy.
He also noted that BRICS countries should take steps to strengthen their economic and political solidarity, enabling them to withstand global pressures. According to Araghchi, this strategy can be particularly beneficial for developing countries facing multiple economic challenges.
Trade with National Currencies: A Path to Independence
The Iranian Foreign Minister emphasized that the use of national currencies can lead to a reduction in dependence on the dollar and other dominant global currencies. He added, "Trade should be conducted through national currencies so that BRICS countries can independently expand their trade relations without worrying about sanctions and economic pressures."
This new approach by BRICS seems not only to strengthen the economies of member countries but also to serve as a model for other countries. At the end of his remarks, Araghchi pointed out that closer cooperation among BRICS members could lead to the enhancement of global economic stability.
