Image Credit source: PTI
The 14th summit of BRICS countries (BRICS Summit 2022) will be held in Beijing today through digital medium. Before the start of this conference, Russian President Vladimir Putin has announced the opening of the Russian market for India.
14th summit of BRICS countries (Brazil, Russia, India, China and South Africa)BRICS Summit 2022) will be held in Beijing today through digital means. Before the start of this conference, Russian President Vladimir Putin (Vladimir Putin) said on Wednesday that Russia is turning trade routes for “trusted international partners” such as Brazil, India, China and South Africa. He emphasized on increasing trade relations with BRICS countries here. He said that in the first three months of this year alone, the trade between Russia and the BRICS countries has increased by 38% and has reached 45 billion dollars.
According to the Russian President, the contacts between the business circles of Russia and the business community of the BRICS countries have increased. For example, talks are underway to open Indian chain stores in Russia and to increase the share of Chinese cars, equipment and hardware in our market. He said that we have supplied record oil to China and India. China’s crude oil imports from Russia hit a record high in May, ousting Saudi Arabia as the country’s top supplier.
‘We’re looking for ways to transact without a currency like the dollar-euro’
Putin said Russia’s system for messaging between financial institutions is open to linking banks in five countries, and Moscow is exploring new ways to transact without relying on currencies such as the dollar or the euro. “With BRICS partners, we are developing credible alternative mechanisms to international mechanisms,” Putin said on Wednesday while addressing the BRICS business forum comprising Brazil, Russia, India, China and South Africa.
BRICS countries’ summit to be held in China this year
Let us tell you that this year the summit of BRICS countries is being held in China. Along with President Vladimir Putin, Indian Prime Minister Narendra Modi, Brazilian President Jair Bolsonaro and South African President Cyril Ramaphosa are also expected to attend the summit, to be chaired by Chinese President Xi Jinping. Chinese Foreign Ministry spokeswoman Hua Chunying said in a statement that the summit would be held digitally. The theme of the summit is ‘Promoting High Quality BRICS Partnership, Beginning a New Era for Global Development’.
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