Seyed Abbas Araghchi, in a recent press conference, emphasized the importance of strengthening national currencies among BRICS member countries. He stated that all members of this group have come to the conclusion that in order to facilitate trade and reduce dependence on foreign currencies, they must focus on strengthening their national currencies.
Trade Without the Dollar
Araghchi, referring to the current economic conditions and international pressures, stated that using national currencies in trade could help BRICS member countries distance themselves from the fluctuations of foreign currencies, especially the US dollar. This approach, in addition to strengthening the national economy, could also lead to increased economic cooperation on an international level.
According to Araghchi, BRICS member countries are exploring solutions through which they can conduct their trade exchanges using national currencies. This action not only helps reduce transaction costs but could also lead to the creation of a new financial system at the global level.
Practical Steps for Implementing This Idea
Araghchi noted that this group is planning to hold specialized meetings and workshops so that members can share their experiences and knowledge in strengthening national currencies. This action will help member countries move more cohesively towards this goal.
It seems that given recent developments in the global economic arena and increasing pressures from sanctions, this approach could become a key strategy for BRICS countries. The future will show whether this idea can become a reality and place BRICS member countries on the path to sustainable and independent development or not.
