Iran and Brazil have agreed to strengthen financial and banking relations, primarily focusing on the use of national currencies for trade. The agreement was made during a meeting between CBI Deputy Governor Abolhasani and Brazil’s Deputy Finance Minister Rosito. They discussed enhancing cooperation under the BRICS framework, with an emphasis on the potential economic benefits for both nations.
TEHRAN – Iran and Brazil have reached an agreement to bolster their financial and banking relations, emphasizing the use of national currencies for bilateral trade. The accord was finalized during a meeting involving Asghar Abolhasani, Deputy Governor of the Central Bank of Iran (CBI), and Tatiana Rosito, Brazil’s Deputy Finance Minister and Chair of the BRICS Central Bank Deputies and Finance Ministers Meeting.
During the recent Cape Town summit, Brazil, as the current BRICS chair, expressed the need for enhanced financial and banking cooperation among member states. This collaboration is expected to yield benefits by promoting the use of national currencies across participating countries, thereby facilitating economic ties.
Abolhasani and Rosito explored the considerable financial and commercial potential that exists between Iran and Brazil. They highlighted the necessity of expanding both bilateral and multilateral monetary and banking cooperation, particularly through mechanisms provided by the BRICS framework.
Abolhasani remarked that the economic capacities of Iran, Brazil, and other BRICS members could lead to substantial trade growth through improved banking and financial partnerships in the near future. Rosito underscored the requirement for strengthened financial collaboration with Iran, proposing the development of new banking mechanisms utilizing BRICS resources, especially in light of global financial trends.
In addition to the discussions with Rosito, Abolhasani engaged in separate talks with representatives from Russia, India, South Africa, and the United Arab Emirates at the BRICS Central Bank Deputies’ Technical Meeting, reaffirming Iran’s dedication to enhancing its monetary and banking collaboration with BRICS member states.
In summary, Iran and Brazil are set to enhance their financial and banking ties with a focus on utilizing national currencies for trade. Officials from both nations are optimistic about the potential for increased cooperation under the BRICS framework, which could significantly boost bilateral trade. The commitment to fostering these relations demonstrates a concerted effort to adapt to evolving global financial landscapes.
Original Source: www.tehrantimes.com
