Iran Seeks Greater Industrial Cooperation with BRICS

Iran said on Thursday it was ready to expand project-based industrial cooperation with BRICS members in strategic sectors including steel, mining, petrochemicals, machinery, pharmaceuticals, medical equipment and knowledge-based industries, as the bloc's industry ministers met in Jaipur, India. Mohammad Sadegh Mofateh, Iran's deputy industry, mine and trade minister for commercial affairs, made the remarks at the 10th BRICS Industry Ministers' Meeting, held under India's 2026 BRICS presidency.

The meeting focused on industrial development, support for small and medium-sized enterprises, innovation, logistics and industrial cooperation, with participants also adopting a joint declaration. BRICS, originally formed by Brazil, Russia, India and China, has expanded to include Egypt, Ethiopia, Iran, the United Arab Emirates, Saudi Arabia and Indonesia as full members. "Iran is ready to expand its project-based cooperation with BRICS countries in strategic sectors including steel, mining, petrochemicals, machinery, pharmaceuticals, medical equipment and knowledge-based industries," he said. He said Iran supported the joint declaration adopted at the meeting, whose theme was "Building for Resilience, Innovation, Cooperation and Sustainability."

"The Islamic Republic of Iran fully supports the joint declaration and believes BRICS participation in the new industrial revolution provides an effective framework for strengthening industrial cooperation, promoting innovation, enhancing supply chain resilience and advancing sustainable industrial development," Mofateh said. He said BRICS countries should move beyond dialogue toward practical cooperation. "BRICS has the capacity to become a model of industrial partnership based on complementary economies, joint investment, technological cooperation and value creation," he said. He identified digital transformation, smart manufacturing, industrial standardization and the development of flexible logistics networks as key areas for cooperation between Iran and BRICS members. "Iran's strategic geographic location at the intersection of major East-West and North-South transport corridors enables the country to serve as a reliable bridge connecting production, energy, transport and regional markets," he said.

He also welcomed the establishment of a BRICS working group on the photovoltaic industry and said Iran supported closer cooperation in renewable energy technologies, photovoltaic production, energy storage and technology exchange. On the sidelines of the meeting, Mofateh held talks with Chinese and Indian officials on expanding economic ties. In a meeting with China's Vice Minister of Commerce Li Chenggang, he called for upgrading bilateral relations toward joint investment, industrial partnerships and value chain development, while stressing the importance of finalizing and signing a revised trade agreement between the two countries. In talks with India's Deputy Minister of Industry Amardeep Singh Bhatia, Mofateh called for reactivating the Iran-India joint trade committee to help address barriers to bilateral commerce. He also highlighted the importance of expanding banking services for Iranian traders and establishing a regular shipping line between Indian ports and Iran's Chabahar port to support trade and investment. - Iran Daily