India & Iran Boost Crypto Cooperation for 2024: A BRICS Update

• New Era of Cooperation Begins in 2024 for India and Iran
• A Solidifying Partnership: Foreign Ministers Meet
• BRICS Alliance Welcomes Greater Cooperation
• India and Iran: Strengthening Ties
• Discussions Preceding the Agreement
• Potential Avenues for Cooperation

New Era of Cooperation Begins in 2024 for India and Iran

In an impactful move for the recently broadened BRICS alliance, India and Iran have declared a bolstered collaboration set to commence in 2024. The two nations have consented to enhance their partnership in both the economic alliance and the Shanghai Cooperation Organization (SCO), as confirmed by numerous reports.

A Solidifying Partnership: Foreign Ministers Meet

Both Iranian Foreign Minister, Hossein Amir Abdollahian, and his Indian counterpart, Subrahmanyam Jaishankar, convened to declare enhanced bilateral relations under the umbrella of both organizations. Furthermore, these discussions are set to be enacted on a long-term basis.

BRICS Alliance Welcomes Greater Cooperation

Just a handful of weeks into the new year, the BRICS alliance has welcomed increased collaboration in its recently expanded configuration. The alliance invited six nations to become part of its membership at its annual summit in 2023. This decision was made official at the outset of the year, with expectations for five of these countries to join.

India and Iran: Strengthening Ties

In the wake of this expansion, India and Iran wasted no time in strengthening their bilateral ties. In 2024, the two countries announced enhanced partnerships, demonstrating their commitment to foster growth within the context of both BRICS and SCO.

Discussions Preceding the Agreement

Prior to the agreement, both foreign ministers engaged in dialogue, stressing the significance of stronger partnerships. Ultimately, a consensus was reached to expand the cooperation between the two entities.

Potential Avenues for Cooperation

The report underscored the North-South International transport corridor and Iran's Chabahar port as significant points for future collaboration. These two elements were indicated as vital for their subsequent engagements. Given that the BRICS expansion was considered the pivotal geopolitical event of 2023, agreements of this nature serve to strengthen this assertion.

Edited by Jonathan Stoker