Tehran appreciates the importance of developing cooperation with the Shanghai Cooperation Organisation (SCO) and BRICS, as the regional blocs will play a key role in the global economy in the coming decades, Iranian Minister of Economic Affairs Ehsan Khandozi told Sputnik
TEHRAN (Pakistan Point News / Sputnik - 21st March, 2023) Tehran appreciates the importance of developing cooperation with the Shanghai Cooperation Organisation (SCO) and BRICS, as the regional blocs will play a key role in the global economy in the coming decades, Iranian Minister of Economic Affairs Ehsan Khandozi told Sputnik.
"Regional agreements, specifically with such important regional partners as SCO and BRICS, are what the world economy will be promoting on the shoulders of these economic giants in the nearest decades," Khandozi said.
In September 2022, Tehran signed a memorandum of commitment for the SCO full membership. In November, the Iranian parliament voted to back the country's accession to the organization. In accordance with the SCO procedures, for Iran to acquire a full membership, the memorandum needs to be approved by all the SCO member countries.
The SCO is an international organization founded in 2001 with full members including Russia, China, India, Pakistan, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. The SCO also has Afghanistan, Belarus, Iran and Mongolia as observer states, while Armenia, Azerbaijan, Cambodia, Nepal, Sri Lanka, Qatar, Saudi Arabia, Egypt and Turkey are partner countries.
Meanwhile, BRICS unites the world's largest developing economies � Brazil, Russia, India, China, and South Africa. A number of other countries intend to join the economic bloc, including Argentina, Iran, Indonesia, Turkey, Saudi Arabia, and Egypt.
