The Role of Iran’s Economic Institutions in Leveraging BRICS Capacities: Structural Analysis and Solutions

BRICS, a coalition of emerging economies, is playing an increasingly influential role in the global economic landscape. One of the key strategic initiatives under discussion within the group is the creation of a common currency aimed at reducing dependence on the US dollar and strengthening trade cooperation among member states. Such a currency could lower transaction costs and unlock new financial resources for development projects. However, the initiative faces major challenges, including political disagreements, economic disparities among members, the dominance of the US dollar, and the absence of an integrated financial infrastructure. The European Union's experience with the euro demonstrates that the successful implementation of a shared currency requires coordinated fiscal policies, a unified central bank, and effective institutional alignment. For Iran, enhancing economic diplomacy, reforming its representation structure within BRICS, and investing in financial infrastructure are critical steps toward playing a more active and influential role in this process. Despite existing challenges, leveraging BRICS’s economic opportunities could strengthen Iran's position in the group’s strategic decision-making.

کلیدواژه ها:

BRICS ، common currency ، economic convergence ، economic diplomacy ، New Development Bank