By Abid Chaudhry
TWA
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The Ambassador of the Islamic Republic of Iran to Pakistan Dr. Reza Amiri Moghadam, emphasized the groundbreaking strides being made by the BRICS alliance in developing a new transaction messaging system. This initiative is poised to challenge traditional payment mechanisms and propel the global economy closer to de-dollarization than ever before.
Ambassador Moghadam highlighted that the creation of this new financial messaging system offers greater variety and flexibility for economic activists. It is a crucial development that will enable regions to reshape the global trade landscape. Such variety is essential and is a hallmark of economic multilateralism.
“Pakistan’s potential adhesion to BRICS, as an influential regional and international player, represents another pivotal moment that will further strengthen the BRICS alliance,” stated Ambassador Moghadam. “The collaborative efforts within BRICS underscore the alliance’s commitment to fostering economic diversity and resilience.”
The BRICS alliance, comprising Brazil, Russia, India, China, and South Africa, continues to explore innovative pathways to enhance economic cooperation and reduce dependency on the US dollar. The proposed transaction messaging system is a testament to the alliance’s forward-thinking approach and dedication to creating a more balanced and equitable global financial system.
