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BRICS providing Iran with great economic opportunities

IRNA – The capacities and opportunities for economic and trade exchanges that the member states of the BRICS (five major emerging economies of Brazil, Russia, India, China, and South Africa) provide Iran, are very enormous, an Iranian economic analyst said.

Ata Bahrami told IRNA on Friday that the BRICS mechanism prepares itself for a multipolar system in the world because American think tanks acknowledge that there will be no more unipolar globe in 2030 and the age of globalization will come to an end.

BRICS is the name of a group of emerging economies and the name has its roots in the first letter of these five countries, he said, adding that except Russia all other members are developing or emerging economies, but they have been distinguished because of their eye-catching growth and effective influence on regional and international affairs, so BRICS entails half of the world population and 28 percent of the global economic power.

The countries that are seeking to be a member state of the emerging multipolar system have come together and established an association to take the lead in the global economy, the expert noted.

Now when they see Iran is keen on working with its eastern friends, they speed up signing contracts with Tehran because they are well aware that the Islamic country plays a key role in the Middle East, he added.

If we become a member state of a union and relinquish dollar-based transactions, which should happen practically, the sanctions regime will come to an end, he said, noting that the sanctions will no more be effective if countries come to the conclusion that embargo cannot affect other nations; thus, predictions indicate that the US’s hegemonic system will end in eight years, i.e. by 2030.

In a multipolar system, the US cannot impose sanctions on other states because there is no more a dollar-oriented system, he said, adding that Western institutions for rating would become unimportant.

As the global economy grows, the US and the European Union will not be determining powers and cannot set norms, he argued.

The analyst went on to say that Iran should forget the West because the Islamic Republic spent around 700 million dollars to manufacture Peugeot 2008 SUV cars, but what happened?

China is a leading country in electronics and telecommunications, he said, adding that the Chinese car manufacturers have expanded in recent years, so the capacities of the BRICS, including China, are very great and vast.

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