Dr. Ghasemi: "The Establishment of a Digital Trust Framework within BRICS is Essential."

According to the Public Relations and Website Office of Khatam University, Dr. Majid Ghasemi—President of Khatam University and Head of the Iranian Delegation during the BRICS Business Council meetings in New Delhi, who also held the chairmanships of the Financial Services Working Group, the Digital Economy Working Group, and the BRICS Business Council—participated in specialized sessions and panels in these two fields. While presenting Iran’s perspectives and describing the expanding capacities of the global services economy and the shared opportunities for member states, he emphasized the need to move from national capacities toward the creation of common infrastructures, standards, and mechanisms to facilitate trade and service provision among BRICS members.

Referring to the increasing share of services in the global economy, Dr. Ghasemi stated: “Service exports have grown by an average of approximately 6.7% annually over the past decade, reaching 80.3% in 2025. Services now account for half of global employment and about two-thirds of global GDP, and this sector is projected to grow at an annual rate of approximately 5.6% until 2032—a figure nearly double the growth rate of goods trade.”

 

Complementary Capacities of BRICS Members: An Opportunity for Developing Joint Cooperation

The Head of the BRICS Business Council of Iran, noting the distinct yet complementary advantages of the member economies, added: “The member countries of this group each possess unique capacities and competitive advantages; India in IT services, China in digital platforms and logistics technologies, Brazil in agriculture-related services, and Russia in energy services hold significant capabilities.”

He further identified transit and logistics corridors, energy engineering, and the possession of specialized and technological human capital as Iran’s most important advantages for developing cooperation within the BRICS framework.

In another part of his remarks, the President of Khatam University and CEO of Pasargad Bank emphasized the position of human capital in the services economy, stating: “What is recorded as capital on a firm’s balance sheet is not necessarily its most important capital; rather, the primary capital of any entity is its human capital. This is of double importance, particularly in companies and enterprises that operate specialized services.”

 

Digital Financial Services: One of the Strategic Pillars of BRICS Cooperation

The Head of the BRICS Business Council of Iran identified digital financial services as one of the two priority areas for expanding cooperation among BRICS members, asserting: “Services provided digitally now constitute more than half of global service exports and, compared to other service sectors and even goods trade, possess the fastest growth rates.”

Referring to actions taken by BRICS to facilitate cross-border payments, Ghasemi noted: “At the Rio summit, BRICS leaders pursued the development of a cross-border payment initiative aimed at connecting rapid payment systems and central bank digital currencies. Connecting the national payment systems of member countries can help reduce settlement costs and shorten transaction times.”

Continuing to emphasize the need to build common infrastructure and trust in the digital space, he added: “Establishing a digital trust framework in BRICS is essential for the mutual recognition of electronic signatures, electronic invoicing, and digital identities among member countries.”

According to the Head of the BRICS Business Council of Iran, joint investment in data infrastructure and cloud technologies, as well as cross-border cloud capacity, could also lay the foundation for reliable, fast, and low-cost services among BRICS members.

 

Logistics: The Second Priority for Developing BRICS Cooperation

In the remainder of his speech, the President of Khatam University and CEO of Pasargad Bank introduced transportation and logistics as the second vital area for deepening economic cooperation among members. Noting the remarkable growth in trade among BRICS countries, he stated: “Trade in goods among member countries has increased 13-fold over the past two decades, reaching approximately $1.17 trillion; therefore, transportation and logistics are among the most tangible and rapid areas in which BRICS cooperation can be expanded in 2026.”

In this regard, Ghasemi emphasized the strategic position of the International North-South Transport Corridor (INSTC), adding: “By connecting Russia, Iran, and India, this corridor can create a shorter, faster, and cheaper route compared to some existing East-West routes, diversifying supply chains and reducing dependence on congested maritime bottlenecks such as the Suez Canal.”

He evaluated the North-South Corridor as more than just a transit route, stating: “Within the BRICS framework, this corridor can become the physical backbone of the group’s program to develop connectivity among members, and while strengthening trade relations, it can also facilitate smoother settlements of transactions using national currencies.”

 

From Transit Route to Industrial Development Axis

The President of Khatam University and CEO of Pasargad Bank also emphasized the necessity of a developmental approach toward transport corridors, saying: “Creating production and industrial zones near transit hubs can contribute to the industrialization of the region and transform member countries from lands that are merely transit points for goods into active economic players in the emerging multipolar trade order.”

Distinguishing between the concepts of “transportation cost” and “logistics cost,” Ghasemi noted: “Transportation costs, similar to tariffs, can be reduced through negotiation; however, the actual reduction of logistics costs requires the improvement of infrastructure, corridors, and related processes.”

Concluding this section of his remarks, he emphasized: “BRICS must prioritize investment in common transport corridors, the coordinated connection of ports and rail networks, transport research networks, and multimodal logistics platforms.”

According to the Head of the BRICS Business Council of Iran, the mutual recognition of electronic transport documents and the digitalization of customs processes among members are also actions that can help facilitate trade flow and reduce the cost and time of transactions among member states.

 

Active Presence of the Iranian BRICS Business Council in Specialized Sessions

Following these sessions, the Iranian delegation, headed by Dr. Majid Ghasemi, maintained an active and effective presence in the programs and specialized meetings of the BRICS Business Council, presenting the perspectives and proposals of the Islamic Republic of Iran in various economic and specialized fields.

On September 9, as one of the keynote speakers at the BRICS Energy Forum, Ghasemi presented his views on cooperation capacities in the energy sector and subsequently outlined the Iranian delegation’s approaches and proposals in two specialized panels in this field.

He also presented a report on the most important actions and achievements of the BRICS Business Council of Iran over the past year during a meeting attended by the Ambassador of the Islamic Republic of Iran.

On September 10, coinciding with the holding of the 9 specialized working group meetings of the BRICS Business Council, Ghasemi chaired the Financial Services and Digital Economy working groups. While managing the discussions of these two groups, he also presented Iran’s views in the specialized panels related to these fields.

Another important event of that day was the unanimous approval of the BRICS Business Council’s annual report. As the Head of the BRICS Business Council of Iran and Head of the Iranian Delegation, Majid Ghasemi signed the Council’s annual report on behalf of the Islamic Republic of Iran, and during the session for the approval and signing of this report, he spoke on behalf of the Iranian delegation on two separate occasions to present the delegation’s views and positions.

Ghasemi’s and the Iranian delegation’s presence in the programs of this term continued on September 11 through participation in specialized panels. Ghasemi attended the “Sustainability & Trade” panel, presenting his views on the requirements and opportunities for sustainable development and the expansion of trade among member countries on two occasions.

On that day, other members of the Iranian delegation also participated in various specialized panels: Zahra Rahayi, a member of the Tehran Chamber of Commerce delegation, attended the fourth panel, and Javanmardi, CEO of FANAP Holding, presented his specialized views in the fifth panel.

The sum of these participations, alongside the management of the Financial Services and Digital Economy working groups by Dr. Majid Ghasemi, provided the basis for presenting a set of Iran’s views and proposals regarding the development of economic, financial, digital, energy, trade, and logistics cooperation at the highest expert and commercial levels of BRICS.

Following these programs, the BRICS Business Council meetings were held in the presence of five presidents, including Dr. Masoud Pezeshkian, President of the Islamic Republic of Iran, and the heads of the business councils of the member countries. Majid Ghasemi, as the Head of the BRICS Business Council of Iran, participated in the official program on September 12 and the official banquet attended by the presidents.

According to this report, the BRICS Business Council meetings and its specialized working groups were held on September 11 and 12, 2026, in New Delhi. Private sector representatives from BRICS member countries discussed solutions for developing economic, commercial, and investment cooperation and expanding interactions among economic actors of the member states within the framework of the specialized working groups.

Furthermore, Iranian private sector representatives presented their views and proposals in various fields of the BRICS Business Council’s activities during the specialized meetings. The focus of these meetings was on “Economic Resilience,” “Digital Transformation,” “Facilitating Cross-border Trade,” “Transition from Traditional Trade (Goods) toward Service Sector Development,” “New Technologies,” “Strengthening the Role of Women,” and “Startups” in the global economy.

BRICS was formed as a mechanism for cooperation among emerging economies, with the presence of Brazil, Russia, India, and China. Following the accession of South Africa and the increase in the number of members, it has become one of the most important cooperation frameworks for the countries of the Global South. Iran joined BRICS at the beginning of 2024.

BRICS operates with the goal of expanding trade and investment, developing financial cooperation, strengthening the role of emerging economies, and increasing cooperation in fields such as energy, industry, agriculture, technology, and infrastructure.

The BRICS Business Council is the private sector entity of this group, which, by creating connections between companies and economic institutions of member countries, identifies business and investment opportunities, pursues joint projects, and transfers private sector proposals to governments.

The Council’s activities are pursued through 9 specialized working groups, which include: Aviation, Financial Services, Infrastructure, Transport and Logistics, Manufacturing, Digital Economy and Artificial Intelligence, Trade and Investment, Energy, Green Economy and Climate, Skills Development, Technology and Agriculture, and Food Security.

Iran’s membership in BRICS has provided the grounds for the active presence of the country’s private sector in the Business Council and its working groups. Identifying business partners, implementing joint projects, increasing exports, attracting investment, and developing cooperation in the fields of energy, transport, agriculture, industry, and technology are among the most important opportunities facing Iran.