The annual BRICS summit is taking place in New Delhi, where the leaders of the member countries have gathered for a two-day meeting to discuss and exchange views on the future of their economic and political cooperation. In this context, Mohammad Reza Pezeshkian, a prominent Iranian figure, has strongly emphasized the necessity of increasing banking cooperation among member countries.
The Necessity of Banking Cooperation
Pezeshkian, in his speech at the summit, pointed to the challenges facing the banking systems of BRICS countries and stated: "One of the main obstacles to the economic development of member countries is the lack of a coordinated and cohesive banking system. We must increase our banking cooperation to facilitate trade and joint investment."
These remarks come at a time when BRICS countries, including Brazil, Russia, India, China, and South Africa, are seeking to strengthen their economic and political relations. Pezeshkian clearly stated that to achieve this goal, financial and economic barriers must be removed, and a unified financial system must be established.
Prospects for New Cooperation
Pezeshkian's proposal at this summit could be seen as a turning point in the economic relations of BRICS countries. He also emphasized the importance of creating joint banks and facilitating the exchange of national currencies. In his opinion, this action could help member countries free themselves from dependence on the Western financial system and move towards greater self-sufficiency.
Given recent developments in the global arena and changes in economic policies, this proposal has garnered significant attention and could pave the way for major changes in the economic relations of these countries. Now it remains to be seen how other BRICS leaders will respond to this proposal and whether banking cooperation will indeed be strengthened or not.
