Iran’s BRICS, SCO ties boost economic prospects: Pezeshkian
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Iran's president highlights the country's growing economic ties through BRICS, SCO, and EAEU to boost markets and attract foreign investment.
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Masoud Pezeshkian, President of Iran, at the Iranian Capital Market Annual Conference, Tehran, 22 November 2025 (ISNA)
Iranian President Masoud Pezeshkian said Iran’s active participation in BRICS, the Shanghai Cooperation Organization (SCO), and the Eurasian Economic Union (EAEU) is creating significant economic opportunities for the country.
Speaking at the "Resilience, Innovation, Growth" capital market conference in Tehran on Saturday, Pezeshkian elaborated that these diplomatic engagements are strengthening ties with neighboring states and fostering the formation of a larger market for Iranian businesses.
He emphasized that this process is accelerating daily to facilitate economic activity and support investors, and as part of this outreach, Iran is inviting international figures to the country, enabling Iranian traders to play a "targeted role" in national economic growth.
'Effective steps'
On domestic policy, Pezeshkian stressed his administration's commitment to improving commercial efficiency and controlling public finances, noting that officials are taking "effective steps" to prevent budget deficits, ensure government revenue aligns with spending, and bring expenditures under control.
BRICS
Iran’s engagement with BRICS began with its formal request for membership in 2008, driven by a desire to align with emerging economies outside the Western bloc. This interest intensified over the years, culminating in Iran’s official admission in 2023. As a full member, Iran now benefits from expanded access to alternative financial systems like the BRICS New Development Bank, offering funding for infrastructure and energy initiatives.
SCO
Within the Shanghai Cooperation Organization (SCO), Iran has prioritized regional security coordination and economic integration. Since gaining full membership in 2022, Tehran has taken part in joint counterterrorism exercises and logistics cooperation with Central Asian and Eurasian states, aiming to secure trade routes and strengthen cross-border commerce.
EAEU
Iran’s cooperation with the Eurasian Economic Union (EAEU) has advanced through a temporary free trade agreement signed in 2019, which led to a surge in non-oil exports. Negotiations for a permanent agreement are underway, which could allow Iran tariff-free access to a market of over 180 million people, primarily in Russia, Belarus, and Central Asia.
Together, these multilateral partnerships reflect Iran’s strategy to shift eastward, diversify its trade partners, and reduce reliance on Western markets. By deepening ties with BRICS, SCO, and EAEU, Tehran aims to anchor itself more firmly in the emerging multipolar world order.
