Iran and Brazil have committed to enhancing their financial and banking relations, focusing on utilizing national currencies for trade. The agreement was formalized during a meeting between Iran’s CBI Deputy Governor and Brazil’s Deputy Finance Minister, with discussions highlighting the potential for increased economic cooperation within the BRICS framework.
Iran and Brazil have reached an arrangement to strengthen their financial and banking relations, emphasizing the use of national currencies in bilateral commerce. This agreement was established during a meeting between Asghar Abolhasani, Deputy Governor of the Central Bank of Iran (CBI), and Tatiana Rosito, Brazil’s Deputy Finance Minister, who also chairs the BRICS Central Bank Deputies and Finance Ministers Meeting.
At the recent BRICS summit in Cape Town, Brazil underscored the value of enhancing financial and banking cooperation among its member states through national currencies. In their discussions, Abolhasani and Rosito recognized the significant trade potential between Iran and Brazil and the necessity of increasing financial collaboration within the BRICS framework to realize this potential.
Abolhasani remarked on the impressive economic capabilities of Iran, Brazil, and other BRICS members, indicating that enhanced banking cooperation could significantly elevate trade levels in the near term. Meanwhile, Rosito emphasized the importance of developing new financial collaboration mechanisms and encouraged the utilization of BRICS resources amidst evolving global financial landscapes.
In addition to discussions with Rosito, Abolhasani engaged in separate talks with officials from Russia, India, South Africa, and the United Arab Emirates, reinforcing Iran’s dedication to augmenting both bilateral and multilateral financial cooperation with BRICS nations.
The agreement between Iran and Brazil represents a key advancement in financial and banking cooperation, promoting the use of national currencies in trade. This partnership, facilitated through BRICS, aims to boost trade potential and enhance economic ties among member states. Ongoing discussions and meetings underscore the participants’ commitment to strengthening collaborative financial mechanisms in light of global financial changes.
Original Source: www.tehrantimes.com
