The call was made by Mahdi Heidari, the Deputy Minister of Economic Affairs and Finance and head of the Organization for Investment, Economic and Technical Assistance of Iran, at the first meeting of BRICS finance ministers and central bank governors under India’s 2026 chairmanship.

The meeting was held in Jaipur, India, on Aug. 11-12, bringing together finance and economy ministers and central bank governors from BRICS member states.

Representing Iran’s economy and finance minister, Heydari endorsed four core priorities for BRICS cooperation — resilience, innovation, cooperation, and sustainability — and stressed the need to develop practical financing mechanisms to deepen economic integration among member states.

He highlighted local-currency financing, the development of foreign exchange risk and hedging strategies, and greater mobilization of private-sector capital as key tools for strengthening financial cooperation and reducing members’ exposure to external financial shocks.

Heydari also called for the responsible and targeted deployment of artificial intelligence and emerging technologies to improve productivity and promote inclusive economic growth. He voiced support for maintaining the BRICS Growth and Development Working Group under future presidencies of the bloc.

Against the backdrop of a rapidly changing global economic environment, Heydari said deeper financial and economic cooperation among BRICS members could help strengthen the resilience of their economies while expanding the bloc’s capacity for sustainable development.

The remarks underscore Iran’s push for greater financial coordination within BRICS, particularly through mechanisms that can diversify funding sources, mitigate currency risks and strengthen the bloc’s capacity to withstand external economic pressures.