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Iranian President Mahmoud Ahmadinejad says that contrary to US policy, the Islamic Republic seeks to foster friendship and justice among different countries.

Speaking among Iranians living in the US, President Ahmadinejad said on Sunday that there were two styles of management in the world, one that is based on the US policy of "coercion" and "hegemony", and the other one rooted in the Iranian culture.

“In the American one, anyone who holds power is undisputedly considered rightful,” the Iranian chief executive said, adding that the American management style sought a policy of taking advantage of other nations.

President Ahmadinejad also called the Western-style management a “failed experience” and said it was “at the end of its road.”

He added that on the contrary there was the Iranian policy seeking to establish peace, friendship and justice among the nations.