According to Vladimir Putin, this will help realise the potential of the growing economies of the BRICS countries, as well as the efficient development of resources.
At a meeting of the BRICS enlarged summit, Russian President Vladimir Putin put forward an initiative to create a new investment platform to strengthen the national economies of the participants. This platform will be an important tool to promote economic co-operation and provide financial support to the states of the Global South and East. This is reported by the press service of the Russian President.
Vladimir Putin specified that to fully unlock the potential of the developing BRICS economies it is necessary to strengthen cooperation in such areas as technology, education, resource management, as well as trade and logistics. The new platform will ensure significant investments in these key areas.
The Russian President also proposed the creation of a BRICS grain exchange. This would establish fair and predictable price benchmarks for food and raw materials, which is key to food security. The exchange project is also aimed at protecting national markets from external interference and speculation. Over time, the grain exchange may be transformed into a full-fledged commodity exchange.
