20th century. in the formation of coalitions and collective agreements, seeing its result in the shanghai pacte eco pact and the non-aligned movement, the warsaw pact, and this is for someone who has heard a lot of this village, of course, for the president in the next meeting of this series of southern books , the brics member country, brazil, russia india china, south africa, the country that you said last week is one third of the world's population. also, in the same vein, i had a conversation with mr. maleki, a senior researcher of international relations , about the political and economic opportunities of brics in iran. the purpose of the new development of the virus is to remove the dollar from bilateral and multilateral exchanges. membership in brace can be a very important beginning and a beginning that we can do to make the sanctions completely ineffective, and it can be a very good beginning. that we can develop the path of internal capacities to activate and have great achievements from the economic point of view. recently, nearly 22 countries have applied to become members, and the

joining the shanghai pact is another event and this development of regional cooperation is promisingt in the future we will see more stability in the country's foreign trade, improvement in the country's foreign trade conditions and stability in the currency market. this economic diplomacy and international relations that it is doing well little by little, the effects of the sanctions are diminishing, the liberalization of the country's foreign exchange resources, which had been blocked for years, these events are not very important that are happening and that finally the country, which has been a bloc for years and was under masoud , will be freed in south korea and is now available. is it possible that part of our foreign exchange resources, which was positive, is now available, and in other countries there are all these very important openings that will definitely help the stability of the economy, the stability of the currency market will help , a very important thing has happened in the matter of oil exports . actually, they were able to do it from us in the ministry of oil make

shanghai composite going down 4% there. marginal gains across the boards. russia is going up 40%. it is an economic pactt needs to serve a purpose, ladies, and the question of de-d de-dollarization. can they make headway? >> thank you, arabile. cnbc spoke to the man who coined the term bric. the senior adviser jim o'neil. we asked if the term should be retired. >> i don't think it is likely to be retired in the lie tfetime. they will expand it to call it bric plus. i don't know or what they're trying to achieve. they haven't achieved anything as a collective club even in areas with scope of real cooperation such as infectious disease prevention. bringing in a mishmash of other countries, i don't understand what they're trying to achieve other than enjoy the fact they can meet every year without the united states being present. it has huge symbolism for the global south. i think it is in some ways unhelpful along with countries seemingly becoming obsessed with the relevance of the g7. >> it is 14 years since the term was coined. let's bring in chris turner, the head of research at ing. great to have you