34.3 C
Friday, September 22, 2023

Iran, Saudi Arabia, UAE join BRICS meeting in South Africa as bloc mulls expansion


Iran, Saudi Arabia and UAE foreign ministers attend meeting BRICS meeting This week in South Africa, as the bloc seeks to expand its membership to counterbalance Western powers.

Iranian Foreign Minister Hussein Amir-Abdulashian, Saudi Foreign Minister Prince Faisal bin Farhan Al Saud and UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan attended the ministerial meeting. BRICS countries Bilateral meetings were held on Thursday and Friday.

Saudi Arabia, the United Arab Emirates and Iran are not part of the bloc, which currently consists of Brazil, Russia, India, China and South Africa. Iran submitted an application to become an observer state last year.

Saudi Arabia is in discussions to join the New Development Bank, the BRICS lender, the Financial Times reported this week. Established in 2014, the bank is seen as a counterweight to the IMF and World Bank.

Prince Faisal held talks with South African Foreign Minister Naledi Pandol, Russian Foreign Minister Sergei Lavrov and Indian Foreign Minister Jaishankar.

Sheikh Abdullah also met Jaishankar, Pandor and Lavrov. The UAE’s top diplomat also held bilateral talks with Iran’s foreign minister.

On Friday, Pandol painted the group as champions of the global south.

“Cooperation in the world is faltering. The developed countries have never fulfilled their commitments to the developing countries and are trying to shift all responsibility to the global south,” Pandol said.

After leaving Tehran, Amir Abdurrashian hailed the BRICS as an institution representing half the world’s population and called his visit an example of Iran’s “active engagement in international institutions” and a “balanced” foreign policy step forward.

Amir-Abdollahian said in a pre-recorded interview broadcast on national television after his departure that a key topic on his agenda in Cape Town was “thede-dollarization” In trade with the BRICS countries.

Iranian officials have insisted on pursuing that goal in recent talks with friendly nations.

The country’s deputy foreign minister for economic affairs, Mehdi Safari, announced last month that the Islamic Republic had proposed to the BRICS and Shanghai Cooperation Organization members to designate a non-dollar currency Because their trade relationship “offsets the effects of unilateral sanctions”.

International punitive measures combined with endemic corruption at home have pushed Iran’s economy to the brink of collapse. The value of the Iranian currency has fallen to record lows as inflation soars to well above 50%, leaving a growing portion of Iran’s middle class living below the official poverty line.


Source link

Related Articles

UAE Long Weekend: 3-Day Getaway Starts at Dh725

The UAE's last long weekend is approaching, with residents eagerly planning a brief getaway. Both private and public sector employees will enjoy a day...

UAE Volunteers Provide Aid to Moroccan Quake Victims of All Ages

On September 8, a devastating 6.9 magnitude earthquake struck Marrakesh, Morocco, resulting in the tragic loss of 2,000 lives. The once-vibrant community now grapples...

Sheikh Mohammed and grandson meet famous racehorse

A heartwarming horse-loving moment for three generations of Dubai's ruling family. Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum shared a...

UAE: Most young Arabs won’t support eco-damaging brands

According to the 15th annual Asda’a BCW Arab Youth Survey released on Thursday, 58 percent of Arab youth plan to boycott environmentally harmful brands....

“UAE’s Luxury Living: Top Areas, Rentals from Dh20,000”

The UAE caters to diverse housing needs. Property Finder used recent data to highlight top residential areas:Budget-Friendly:Sharjah: Al Khan (1-bedroom apartments from...

Latest Articles