Iran eyes NDB membership as Araghchi hails ‘strong’ Modi-Pezeshkian meeting

Iranian foreign minister joins Brics summit in New Delhi

NEW DELHI: Iran has stepped up its bid to join the New Development Bank (NDB), with foreign minister Abbas Araghchi saying Tehran has secured support from some countries and is now working to complete the requirements for membership.Araghchi, who is in New Delhi for the 18th Brics Summit, also described Iranian president Masoud Pezeshkian’s meeting with Prime Minister Narendra Modi as a “strong”, while highlighting Iran’s expanding engagement with Brics members and other countries.Speaking to Iranian news outlet SNN Iran on Saturday, Araghchi said Tehran was actively pursuing membership of the NDB.“We are working on that today, and some countries are supportive, and they are in the process of fulfilling the necessary requirements,” he said.Iran’s bid to join the NDB was announced last month by Central Bank of Iran governor Abdolnaser Hemmati, according to TV Brics, which cited Iranian media reports.Araghchi also highlighted discussions among Brics leaders on greater use of national currencies, on Friday. Referring to the meetings, he said, “Mr Putin, Mr Modi, and Dr Pezeshkian, especially regarding the use of local currencies and national currencies, had a conversation that caught the attention of the world and attracted a lot of news coverage.”

He said Saturday’s main summit would be accompanied by a series of bilateral meetings involving Pezeshkian.“Today, the main session of the summit will begin. Along with that, the President had bilateral meetings. Yesterday, there was a very strong meeting with India; today with Malaysia as well, and with Ethiopia, which is an important country in Africa,” Araghchi said.“Bilateral issues are being raised, regional issues are being raised, and praise be to God, the Islamic Republic of Iran's relations are expanding with the collection of Islamic countries and the countries of the region, and this is evident in all the meetings,” he added.Pezeshkian also used his meetings in New Delhi to push for closer economic cooperation within Brics. During his meeting with Ethiopian prime minister Abiy Ahmed Ali, he called for stronger economic and financial ties among Brics member countries and said the US presence in West Asia was a factor contributing to bloodshed.In his meeting with Malaysian prime minister Anwar Ibrahim, Pezeshkian said the region did not need a “policeman” and argued that Middle East security should be ensured by countries in the region.

He also said Iran would seek to strengthen and rationalise its relations with Muslim and neighbouring countries, while emphasising that Iran is a peace-seeking country.Earlier on Friday, PM Modi also held a bilateral meeting with the Iranian president, continuing discussions from their meeting on the sidelines of the SCO Summit in Bishkek.According to the Ministry of External Affairs (MEA), the two leaders reviewed various aspects of India-Iran ties, with Modi thanking Iran for its regular, high-level participation in Brics-related meetings despite challenging circumstances.Modi also thanked Pezeshkian for participating in the Leaders’ Session of the Brics Business Forum and highlighted the grouping’s potential to build “resilience, innovation, cooperation and sustainability” among countries of the Global South.The two leaders also discussed the conflict in West Asia. Modi reiterated India’s position that all issues should be resolved through dialogue and diplomacy, while stressing the need for continued efforts towards lasting peace and stability, including freedom of navigation and commerce and the safety of seafarers.In a post on X, Modi described the meeting as a continuation of their discussions in Bishkek.“From Bishkek to Delhi, the productive discussions continue. Happy to have met Dr Masoud Pezeshkian, the President of Iran. This visit is more special because it is his first visit to India. We talked about the India-Iran friendship. We believe that we should move forward with a long-term and win-win strategy. The prevailing situation in the region was also discussed.

India remains steadfast in its commitment to the pursuit of enduring peace,” Modi said.On the opening day of the Brics Summit on Saturday, Pezeshkian also met president Droupadi Murmu at Rashtrapati Bhavan in New Delhi. Iran joined the expanded Brics grouping in January 2024, alongside Egypt, Ethiopia, Saudi Arabia and the UAE.