Iran and Brazil have agreed to strengthen financial and banking relations, focusing on bilateral trade using national currencies and improving banking infrastructure for economic cooperation. This agreement emerged from a meeting between CBI Deputy Governor Asghar Abolhasani and Brazil’s Deputy Finance Minister Tatiana Rosito. Emphasizing the potential for enhanced trade among BRICS nations, both sides discussed leveraging existing financial mechanisms for mutual benefit.
Iran and Brazil have officially agreed to enhance their financial and banking relations, emphasizing the use of national currencies for bilateral trade and improving banking infrastructure for economic collaboration. This agreement was solidified during a meeting between Asghar Abolhasani, Deputy Governor of the Central Bank of Iran (CBI), and Tatiana Rosito, Brazil’s Deputy Finance Minister and Chair of the BRICS Central Bank Deputies and Finance Ministers Meeting.
During the recent BRICS summit in Cape Town, Brazil advocated for stronger financial cooperation among member states through the utilization of national currencies, signaling potential benefits for all involved countries. The discussions underscored the substantial financial and trade potential that exists between Iran and Brazil, and the need to foster both bilateral and multilateral cooperation within the BRICS framework.
Abolhasani emphasized that the economic capabilities of Iran, Brazil, and other BRICS nations indicate the likelihood of significantly increased trade through enhanced banking and financial cooperation in the near future. Furthermore, Rosito underscored the importance of reinforcing bilateral cooperation with Iran and suggested leveraging BRICS resources to create novel banking mechanisms in light of current global financial developments.
In addition to the formal discussions, Abolhasani also engaged in separate discussions with officials from Russia, India, South Africa, and the United Arab Emirates, reiterating Iran’s dedication to expanding its monetary and banking collaborations with BRICS members.
In summary, the agreement between Iran and Brazil to enhance their financial and banking ties marks a significant step towards utilizing national currencies for trade and improving economic cooperation through the BRICS framework. The commitment to strengthen partnerships indicates mutual benefits and a proactive approach to addressing global financial challenges. Overall, the discussions reflect a shared vision for robust economic collaboration among BRICS nations, aiming for increased trade and financial integration in the short term.
Original Source: www.tehrantimes.com
