Russia charts new course for BRICS nations as presidency begins

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Russia charts new course for BRICS nations as presidency begins

Post  Sirop14 on Wed Apr 01, 2015 11:03 pm

Russia charts new course for BRICS nations as presidency begins

World  April 01, 9:01 UTC+3
Russia intends to transform the BRICS into a full-scale mechanism of strategic interaction on key issues of global policy and economics

© ITAR-TASS/Alexey Nikolsky

© EPA/PETER FOLEY
Diplomat says Brazil, India, South Africa should be UN Security Council permanent members
MOSCOW, April 1. /TASS/. Grand plans have been outlined for the BRICS emerging market nations as Russia begins its presidency of the group on Wednesday.

Transforming the BRICS assembly of Brazil, Russia, India, China and South Africa into "a full-scale mechanism of strategic interaction on key issues of global policy and economics" is a "top priority" for Russia’s presidency, which is expected to culminate at a summit in the Russian city of Ufa in early July, the Russian Foreign Ministry said.

There are plans to open new tracks for multilateral industrial cooperation, the ministry said after a meeting on Tuesday. The main goal is to launch the group’s development bank and currency reserve pool as outlined in the Strategy for Economic Cooperation of the BRICS countries established until 2020, it said, referring to the plan proposed by Russia at the BRICS summit in Brazil.

The Russian Foreign Ministry’s special envoy, Vadim Lukov, noted that some Western partners had already started to explore the possibility of joining the BRICS New Development Bank, noting that: "This is the first time that such institutions have been created without Western countries’ involvement."

Speaking about the tasks of the bank, Lukov pointed out that the new structure would operate on commercial principles.

http://tass.ru/en/world/786335

Russia’s BRICS presidency to focus on Development Bank, currency pool — finance minister
http://tass.ru/en/economy/786515

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