Addressing the 51st edition of the Asian Clearing Union (ACU ) summit in Tehran on Wednesday, Mokhber praised the intention of the ACU member states to create a new chapter of economic relations and financial and commercial interactions.

A country with a size of 1.64 million square kilometers and a population of about 85 million who are mostly young and educated people, Iran has a high capacity to attract domestic and foreign investments and take advantage of the demographic opportunities in increasing production and economic growth, Mokhber said.

Iran enjoys having strategic geography as it shares water and land borders with 15 countries and is located at the hub of the international transportation and transit corridors, Mokhber also said, noting there are appropriate infrastructures in telecommunication and air, road, and rail transportation sectors in the country.

These components can play an effective role in facilitating trade between Asian and European countries as well as the Asian Clearing Union.

Elsewhere in his remarks, VP Mokhber examined the role of the dollar in the world economy and said, "De-dollarization is not a voluntary choice by countries anymore, it is the countries' inevitable response to the "weaponization project of the dollar."

In the past decades, the "Weaponization of the dollar" has forced countries to find a way to get rid of the impact of possible sanctions in the future, Mokhber further asserted.

Referring to the increasing number of countries that are looking to reduce their dependency on the US dollar, the vice president said that the weakening of the dollar can be a serious threat to the United States' influence at the international level.

Iran's First Vice President went on to conclude that the Islamic Republic of Iran is ready to develop its banking and trade relations with other countries, especially ACU member states.

In a relevant development on Tuesday, Governors of the central banks of Iran and the Russia underlined Tehran and Moscow's determination to switch to national currencies in mutual settlements in a move to put an end to the dominance of the US Dollar.

The Central Bank of Iran (CBI) Governor Mohammad Reza Farzin and his Russian counterpart Elvira Nabiullina have emphasized strengthening trade exchanges and using their national currencies in bilateral trade.

During a meeting with Nabiullina on Tuesday, Farzin underscoredd the need to increase banking and monetary exchanges between Tehran and Moscow.

Farzin stated that strengthening and accelerating the development of brokerage relations between commercial banks of Iran and Russia tops the two major banks' agenda.

Referring to the vast commercial capacities and potentials that Iran and Russia have, he stressed increasing the banking infrastructure cooperation between the two countries.

The CBI chief invited Russia to participate in the 51st edition of the ACU summit which started on Tuesday in Tehran, referring to the potential of the Asian Clearing Union (ACU) member states.  

Nabiullina, for her part, stressed the strengthening of monetary and banking exchanges and the maximum use of the banking infrastructure of the two countries in order to develop trade and economic cooperation.

"The exchange of technical and specialized teams of the central banks of the two countries with the aim of developing and deepening monetary and banking relations are considered important in this regard, which has already been done," she stated.