KAZAN: Iran has proposed a comprehensive assessment of the economic data of BRICS member countries, Iranian President Masoud Pezeshkian announced at the ongoing BRICS summit in Kazan, Russia. The initiative aims to bolster investment and trade among the bloc’s members, a move Pezeshkian believes is crucial for the group’s development and cooperation.

According to Trend News Agency, Pezeshkian emphasized the importance of increasing investment and trade among the BRICS countries, suggesting that the outcomes of decisions related to these areas should be evaluated annually. This periodic review would ensure that such matters remain a central focus for the organization.

Pezeshkian also highlighted the potential for each member country to view the development of others as integral to their own progress. He underscored the significance of cooperation and healthy competition, which he sees as the foundation for relations within the group. Iran, he stated, is committed to staying clear of political and geopolitica
l tensions and intends to work towards reforming the global economic structure of BRICS, thereby creating alternative opportunities for economic advancement.

The BRICS organization was established in 2006 and currently comprises Russia, Brazil, India, China, and South Africa, along with newer members Egypt, Ethiopia, Iran, the UAE, and Saudi Arabia. The 16th BRICS Summit, under the Russian chairmanship, is being held from October 22 to 24 in Kazan, focusing on the theme “Strengthening Multilateralism for Just Global Development and Security.” Russia took over the BRICS chairmanship on January 1, 2024.