Iranian President Masoud Pezeshkian called for BRICS to turn its economic weight into concrete trade, investment and financing projects, saying the bloc would become "a real force in the global economy" when its cooperation was reflected in contracts, factories, ports and people's lives.

Speaking in New Delhi ahead of the 18th BRICS Summit, Pezeshkian said the group's strength went beyond the size of its economies and depended on transforming that potential into practical cooperation.

"The world today is going through one of the most critical periods in its history. Geopolitical uncertainty, disruptions in supply chains, and the increasing use of economic tools to exert political pressure have made the environment for countries' economic activity more complex," he said.

"We believe BRICS will become a real force in the global economy when the results of our cooperation are reflected in contracts, factories, ports, and the economic lives of the peoples of our countries," he added.

Pezeshkian called for greater use of national currencies in trade between BRICS members, alongside mechanisms to manage currency risks and reciprocal settlements.

"One of the most important steps is expanding the use of national currencies in trade among member countries. This step must be accompanied by the creation of the necessary tools for managing currency risk and reciprocal settlement," he said.

He argued that reliance on a limited number of currencies left the international financial system vulnerable to political pressure, and urged the BRICS New Development Bank to expand local-currency financing for infrastructure and energy projects.

"To turn trade cooperation into real investment, the New Development Bank should, through special credit lines, financing in local currencies, and guarantee instruments to attract private investment, become the main source of financing for infrastructure and energy projects in member countries," said Pezeshkian.

The president also proposed creating a joint BRICS reinsurance company with initial capital of $10 billion to cover major infrastructure and energy projects and encourage private investment.

He called for closer integration of BRICS trade infrastructure, including streamlined customs procedures, fewer regulatory barriers, cross-border markets and greater private-sector investment.

Pezeshkian said Iran was ready to use its energy resources and geographical position to strengthen BRICS energy, food and transport supply chains.

"Food and energy security are two main pillars of economic security, and the Islamic Republic of Iran, with its vast energy reserves and outstanding geographical position, is ready to play the role of a strategic partner in BRICS energy, food, and transport supply chains."

The Iranian president also linked economic resilience to national security, referring to sanctions and what he described as recent US and Israeli military aggression against Iran.

"This aggression, alongside human and material losses, once again revealed an important reality: economic security is not separate from national security and regional security," he said.

On technology, Pezeshkian urged BRICS countries to become producers rather than simply consumers of emerging technologies, calling for cooperation on artificial intelligence, digital economy standards and cybersecurity.

He closed by urging the bloc to translate political dialogue into tangible economic results.

The 18th BRICS Summit is being held at the Bharat Mandapam convention centre in New Delhi on September 12-13 under the theme "Building Resilience, Innovation, Cooperation and Sustainability", during India's presidency of the group, which promotes a people-centric approach based on the principle of "Humanity First".