TEHRAN: Iran’s Finance and Economic Affairs Minister, Ehsan Khandouzi, expressed optimism regarding Iran’s prospective membership in BRICS and the Shanghai Cooperation Organization (SCO), anticipating significant gains in attracting foreign investment for the country.
Speaking to the Tehran Times during the 24th Iran Media Expo in Tehran, Minister Khandouzi highlighted ongoing legal preparations for Iran’s accession to these agreements, foreseeing tangible progress in the upcoming Iranian calendar year, beginning on March 20.
Iran recently gained membership in the BRICS economic organization, marking a crucial milestone in its efforts to mitigate the impact of U.S. sanctions.
This development, announced by Iran’s Foreign Ministry spokesman, Nasser Kanaani, signifies a significant achievement for Tehran.
The BRICS, comprising Brazil, Russia, India, China, and South Africa, has wielded substantial influence in global economic dialogues since its establishment in 2009.
Moreover, Iran’s inclusion in the Shanghai Cooperation Organization (SCO) further strengthens its strategic positioning.
Upgraded from observer status, Iran became the SCO’s ninth member in July 2023, joining nations such as China, Russia, and India. This move underscores Iran’s efforts to diversify its economic partnerships and reduce dependence on the U.S. dollar amidst sanctions.
Minister Khandouzi also underscored the government’s commitment to controlling inflation and enhancing purchasing power. Emphasizing continued policies addressing banking, monetary, and fiscal discipline, he expressed confidence in projections indicating a decline in inflation for 2024.
These measures, supported by both international and domestic assessments, aim to deliver positive outcomes for the Iranian populace and domestic producers.
