Russia emphasizes capacity, functionality of BRICS

Russia emphasizes capacity, functionality of BRICS

Russia emphasizes capacity, functionality of BRICS

 

 
In summarizing the results of the Russian presidency in the Group, formed also by Brazil, India, China and South Africa, Ryabkov said that this mechanism of five emerging economies demonstrated feasibility and necessity of unity and positions well settled down in the system of international relations.
 
Each cycle of rotating presidency enriches the BRICS and the Russian management showed results of hard work, said the official representative of Moscow in the Foreign Ministry.
 
Among the most notable developments of the quintet in the recent year stood out the arrangements for the institutionalization of the Development Bank and the creation of a fund of foreign exchange reserves.
 
Both issues were implemented in the presidential summit in Ufa, central Russia, in July 2015, and were reflected in the joint statement.

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