NOVGOROD: BRICS has started to actively work on the implementation of the decisions of the Johannesburg summit in 2023 on the improvement of the international financial system and the development of a platform for trading in national currencies, Russian Foreign Minister Sergey Lavrov said on Monday.

BRICS, a multilateral forum of five nations – Brazil, Russia, India, China, and South Africa – made the historic expansion recently with new member states such as the UAE, Iran, Egypt, and Ethiopia.

Sputnik news agency quoted Lavrov as saying on Monday, ‘Active work is underway to implement the decisions of last year’s Johannesburg summit in terms of improving the international monetary and financial system and developing a platform for settlements in national currencies for mutual trade. In accordance with the instructions of the leaders at the Johannesburg summit, we are paying special attention to harmonising the modalities for establishing a category of partner states of the association.’

At the same time,
work is underway on key Russian initiatives in the transportation sector, on the establishment of a contact group on climate and sustainable development, a working group on nuclear medicine and a medical association, among others, Lavrov added at the BRICS foreign council???.

The meeting of the BRICS foreign ministers is taking place in the Russian city of Nizhny Novgorod on 10th and 11th June. Russia’s Sous-Sherpa for BRICS, Pavel Knyazev, estimated that about 20-25 nations are expected to attend.

Source: Emirates News Agency