0703 GMT July 05, 2022
Strategic affairs expert
Russian State Duma Speaker Vyacheslav Volodin has offered the possibility of a new G8 citing US sanctions. Volodin has said China, India, Russia, Indonesia, Brazil, Mexico, Iran and Turkey could be member states of the new group of eight as they surpass by 24.4 percent member states of the traditional G7 in terms of GDP and purchasing power parity.
There are two main grounds to possibly realize the idea as all these countries have many things in common. All or most of these countries have faced some kind of unfair treatment from the West. Moreover, they have ample capabilities that can be integrated into an international organization to benefit its member states.
The European Union and the United States have clearly pursued confrontational policies with some of these countries, such as China, Russia and Iran. Turkey has moved heaven and earth over the past few decades to join the EU, but to no avail.
Countries such as India, Brazil, Indonesia and Mexico also tend to facilitate the exchange of capabilities with other countries through such an organization in order to secure their interests in a more guaranteed way, away from fears of Western-imposed policies.
These countries have different national, regional and international potentials, including good capabilities in science and technology, natural resources, geopolitical positions and, more importantly, a large population and a vast market for trade.
A new group of eight might fuel concerns about intensifying current international rivalries into dangerous conflicts. But the formation of the Shanghai Cooperation Organization has shown that such an international group could only make competitions more serious. It could also push Western countries to balance their hegemonic policies as these eight countries have large markets on which the West has an eye.
The Islamic Republic of Iran should welcome such an idea because Tehran has much more in common with these seven countries than with Western nations. As a result, the formation of a new group of eight and the development of cooperation between these eight countries would pave the way for the transfer of new technologies to Iran and provide the Islamic Republic with access to new markets for the export of manufactured goods and natural resources, away from Western pressure. In fact, it would help Iran’s economy flourish.
However, such a group might take time since these countries need to hold meetings to agree on laws for trade, customs tariffs, financial exchanges, visa requirements, etc. Anyhow, the idea itself can provide enough motivation for these countries to move toward such a group. Therefore, Iran’s Foreign Ministry should pursue this issue seriously and encourage other countries to join.