Tehran: Iran is looking forward to strengthen its ties with BRIC group of nations after realizing the growing global importance of the latter.

Ali Agha-Mohammadi, a high-ranking economic planning official in the Iranian Vice President's Office, said that international studies show that Brazil, Russia, India, and
China (BRIC) will emerge as dominant global economic powers in the next five to ten years.

'BRIC', a group of nations which has been tipped by investment bank Goldman Sachs to surpass the current combine of richest economies of the world by 2050, has just had an annual meeting in Sanya, China. South Africa is the latest entrant to the group with the name now being changed to BRICS.

Expanding ties with BRIC countries is Iran's first economic priority, and afterwards the country will make efforts to strengthen economic relations with the other countries of the Next Eleven (N-11) group, IRNA news agency quoted him as saying on Monday.

The Next Eleven countries group include Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, the Philippines, South Korea, Turkey, and Vietnam.

Goldman Sachs has identified the Next Eleven as having a high potential of becoming, along with the BRICs, the world's largest economies in the 21st century.