Iran and Brazil have agreed to improve financial and banking ties, emphasizing the use of national currencies in trade and leveraging BRICS infrastructure for economic cooperation. The discussions, initiated by the Central Bank of Iran and Brazil’s Finance Ministry, highlighted the significant trade potential between the two nations. Continued dialogues with BRICS members affirm this commitment to enhancing monetary collaboration.
Tehran – Iran and Brazil have reached an agreement to enhance their financial and banking relations, focusing primarily on the utilization of national currencies in their bilateral trade. This development was confirmed following discussions between Asghar Abolhasani, Deputy Governor of the Central Bank of Iran, and Tatiana Rosito, Deputy Finance Minister of Brazil, during a meeting that emphasized banking infrastructure as a means to bolster economic cooperation.
At the recent BRICS summit in Cape Town, Brazil, as the current chair of the BRICS bloc, underscored the significance of improving financial and banking collaborations among member states by employing their national currencies. The talks served to highlight the considerable financial and trade potential that exists between Iran and Brazil.
Abolhasani pointed out that the economic capacities of Iran, Brazil, and other BRICS nations suggest that enhanced cooperation in banking and finance could substantially increase trade amongst these countries in the near future. Meanwhile, Rosito expressed the necessity for reinforced financial partnerships with Iran, proposing the use of BRICS resources to cultivate new banking and finance cooperation mechanisms in light of evolving global financial circumstances.
Furthermore, Abolhasani held discussions with officials from Russia, India, South Africa, and the United Arab Emirates on the sidelines of the BRICS Central Bank Deputies’ Technical Meeting in Cape Town, reaffirming Iran’s dedication to fostering both bilateral and multilateral monetary and banking collaborations within the BRICS framework.
In conclusion, the agreement between Iran and Brazil to strengthen their financial and banking ties is a promising step toward enhancing bilateral trade and economic cooperation. By focusing on the use of national currencies and leveraging the BRICS framework, both nations aim to unlock significant trade potential in the near term. Collaborative efforts and discussions with BRICS counterparts further emphasize both countries’ commitment to expanding their economic relations.
Original Source: www.tehrantimes.com
