Iran and Brazil have agreed to enhance financial and banking relations, focusing on utilizing national currencies in trade and improving banking cooperation. This agreement was reached during a meeting between officials from both nations amidst the BRICS summit initiatives, emphasizing the significant financial potential and collaboration mechanisms available within BRICS.
TEHRAN – Iran and Brazil have officially agreed to enhance their financial and banking cooperation, emphasizing the use of national currencies for bilateral trade. The agreement emerged during a meeting between Asghar Abolhasani, Deputy Governor of the Central Bank of Iran, and Tatiana Rosito, Brazil’s Deputy Finance Minister, during their engagement at a recent summit.
Brazil, as the current chair of BRICS, stressed the significance of improving financial collaboration among member states at the Cape Town summit. This collaboration focuses on the utilization of national currencies, which will provide tangible benefits to all participating countries.
During discussions, Abolhasani and Rosito acknowledged the considerable financial and trade potential that exists between their nations. They emphasized the crucial need to enhance bilateral and multilateral banking cooperation, particularly leveraging the resources within the BRICS framework.
Abolhasani remarked that the economic capabilities of Iran, Brazil, and other BRICS members present a promising opportunity for increased trade through improved banking relations.
Rosito advocated for stronger financial collaboration with Iran and suggested harnessing BRICS capabilities to innovate new banking mechanisms, especially given the ongoing changes in the global financial landscape.
Additionally, Abolhasani conducted separate 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. He reaffirmed Iran’s commitment to strengthening both bilateral and multilateral financial cooperation with BRICS countries.
In conclusion, the agreement between Iran and Brazil to strengthen financial and banking ties signifies a strategic move to enhance trade relations through the use of national currencies. The discussions highlighted the potential for increased cooperation among BRICS nations, paving the way for innovative financial solutions amidst evolving global dynamics.
Original Source: www.tehrantimes.com
