Pezeshkian urges BRICS to build resilient trade network, expand national-currency use

President Masoud Pezeshkian has urged BRICS members to build a resilient trade network and expand the use of national currencies to strengthen economic cooperation and reduce vulnerability to political shocks.

Speaking at the BRICS Business Forum in New Delhi on Friday, Pezeshkian said that today’s world is at “one of its most complex junctures”, referring to “geopolitical uncertainty, disruptions to supply chains, and the growing use of economic tools to exert political pressure”.

Noting that the true strength of BRICS is not limited to the size of its member states’ economies, he called on BRICS to form a network of shared trade, investment, and financing, making “a shift from ‘potential cooperation’ to ‘operational cooperation’.”

The president emphasized that economic resilience can be achieved through diversifying trade partners, financing sources, and payment channels.

Noting that Iran has been under sanctions for years, Pezeshkian said that these measures “have entered a far more difficult and dangerous phase” following the recent US-Israeli aggression against the Islamic Republic.

This aggression revealed that “economic security cannot be separated from national and regional security”, he added.

“Whenever a country’s trade, energy, infrastructure, or financial system comes under political or military pressure, the consequences [of this pressure] will extend beyond its borders, affecting regional stability and even the global economy,” he explained.

Therefore, he said, BRICS must create resilient capacities for the economies of its members and the Global South, ensuring that no country can disrupt another country’s legitimate trade by monopolizing a financial instrument or technology.

Calling for boosting trade among BRICS members, Pezeshkian pointed to the importance of “the gradual integration of trade infrastructure”, referring to several measures — including the digitization and integration of customs and trade-facilitation processes, the reduction of regulatory and administrative barriers, the development of cross-border markets, and the facilitation of joint private-sector investment.

He also called for strengthening mutual cooperation on standardization so that BRICS can evolve from a market for the exchange of raw materials into a network of value chains and joint industrial production.

Emphasizing that food and energy security are “two essential pillars of economic security”, the president expressed Tehran’s readiness to play the role of a strategic partner in BRICS supply chains for energy, food, and transportation, amid “its vast energy reserves and strategic geographical location”.

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Elsewhere in his remarks, Pezeshkian stressed the significance of expanding the use of national currencies in trade among member countries.

He pointed out that this step requires “the creation of the necessary tools for managing currency risk and mutual settlement, as the current financial system, due to its reliance on a limited number of currencies, is vulnerable to political shocks.”

Artificial intelligence is poised to bring about “a fundamental transformation in the global economy”, he said, adding that “BRICS should not merely be a consumer of technology; rather, it must also play a role in generating knowledge and shaping digital-economy standards, while simultaneously strengthening the cybersecurity of critical infrastructure.”

He also urged turning the BRICS Business Council from “a forum for dialogue into an operational engine for economic cooperation”, stressing that its specialized working groups should define concrete, measurable projects using clear indicators such as the growth rate of intra-BRICS trade, the share of national currencies in trade, and the volume of private capital invested.

Pezeshkian reiterated Tehran’s readiness to serve as “one of the key links connecting the BRICS economies”.

“We believe that BRICS will become a true force in the global economy when our cooperation is reflected in contracts, factories, ports, and the economic lives of the people of member countries.”

He also stressed that the Islamic Republic "stands ready to work alongside all BRICS members to build a more open, resilient, and equitable economy.”

Originally comprising Brazil, Russia, India, China and South Africa, BRICS expanded in 2024 to include Egypt, Ethiopia, Iran, the United Arab Emirates and Saudi Arabia, with Indonesia joining in 2025. Belarus, Bolivia, Kazakhstan, Cuba, Malaysia, Nigeria, Thailand, Uganda, Uzbekistan and Vietnam became partner countries last year.

The 18th BRICS Leaders' Summit will be held in the Indian capital on September 12-13 under the theme "Building for Resilience, Innovation, Cooperation and Sustainability."

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