INSUBCONTINENT EXCLUSIVE:
TEHRAN- Russian President Vladimir Putin has told participants of the BRICS Business Forum that the de-dollarization process is irreversible
to develop efficient mechanisms of mutual settlements, as well as monetary and financing control
As a result, the share of the dollar in export and import transactions within BRICS is declining as it only equaled 28.7% last year," Putin
measures to switch trade between member states away from the U.S
dollars; as well as drawing up a framework on Wednesday for admitting new members to the bloc during the plenary session of the BRICS
leaders.In his opening remarks at the BRICS plenary session on Wednesday, South African President Cyril Ramaphosa said, "BRICS stands ready
to collaborate with all countries that aspire to create a more inclusive international order."He also pointed out, "The changes that have
taken place in BRICS economies over the past decade have done much to transform the shape of the global economy
However, the new wave of protectionism and the subsequent impact of unilateral measures that are incompatible with WTO rules undermine
governance more just and equitable," Chinese President Xi says.South Africa's foreign minister also said an agreement has been reached on
a document that we've adopted which sets out guidelines and principles, processes for considering countries that wish to become members of
would make a more detailed announcement on expansion before the summit concludes on Thursday.Chinese President Xi Jinping also told the
plenary meeting that "international rules must be written and upheld jointly by all countries based on the purposes and principles of the UN
Charter rather than dictated by those with strongest muscles or the loudest of voice...BRICS countries should practice true multilateralism,
stick to solidarity and oppose division."Xi also warned that "the Cold War mentality is still haunting our world, and the geo-political
situation is getting tense.""We should let more countries join the BRICS family to pool wisdom and efforts to make global governance more
just and equitable," Xi added.For his part, Prime Minister Narendra Modi said "India fully supports the expansion of BRICS, we welcome
and trade cooperation between member countries Brazil, Russia, India, China, and South Africa; and is now finalizing ways to expand its
inflation and dried-up foreign reserves.Lula denounced the IMF loans as "suffocating" and raised the possibility of the BRICS bank
increasing lending to other countries with a "different criteria" to improve their economies.Critics of the IMF have echoed Lula's remarks
on its loan bailouts to countries whose economies, societies and governments end up suffering from the terms attached to the loans, which
joining the alliance as well as a common currency used by BRICS countries in commercial transactions that would reduce their
vulnerabilities.In his speech at the business forum, he added that new partners would help BRICS increase its relevance on an international
to support the people who are fighting for their culture, for their traditions, for their language and for their future
Our actions in Ukraine have only one reason - to put an end to the war that was unleashed by the West and their satellites in Ukraine
number of Western countries to preserve their hegemony in the world that "has led to the grave crisis in Ukraine."On Tuesday, Xi told the
BRICS business forum that China's economy was resilient and that the fundamentals for its long-term growth remained unchanged."The Chinese
economy has strong resilience, tremendous potential, and great vitality," he said.At a briefing on the sidelines of the summit, China's top
diplomat for Africa highlighted how Beijing is tapping into the African market where there is great potential."African integration is
already escalating, and many African countries have asked China to consider a shift of our focus," said Wu Peng, director-general of China's
Department of African Affairs at the Foreign Ministry."No matter what happens about the global economy, or Chinese economy, the trend in the
relatively midterm or long range, is that Chinese companies are willing to take some risk to go into Africa," Wu added.All eyes are on this
exceeded the G7 in terms of economic clout and with new members, such as Saudi Arabia, Iran, Nigeria, Indonesia, and many others expected to
suggest significant development has been achieved on the expansion of BRICS during the Wednesday meeting of the BRICS leaders.Experts
believe there are a number of reasons why many countries have signaled their interest in joining the bloc.Topping that list undoubtedly is
the war in Ukraine, which has played a significant role in the shift it has created within geopolitics
Many countries have seen the bullying nature of the West, in particular the United States and other NATO members pressuring other countries
to join the war and take sides
hegemony over the past 30 years have attracted many states to seek alternative multilateral organizations for fair trade and market
same can be said for other international blocs such as the Shanghai Cooperation Organization.
