Russia ready to develop commodity exchanges within BRICS, says export official
Speaking in an exclusive commentary at the St. Petersburg International Economic Forum (SPIEF), Anton Tsetsinovsky, the REC's director for international cooperation and development, said that each BRICS member is capable of producing competitive goods.
He emphasised that the foundation of sustainable cooperation within the group lies not only in product supply but also in the development of deeper cooperation. This includes transport and logistics connectivity, industrial collaboration, the transition to settlements in national currencies, and the insurance of mutual deliveries.
'The initiatives currently under discussion, such as the creation of commodity exchanges in key sectors like metallurgy and agricultural production, are forming a foundation for sustainable trade and industrial cooperation within BRICS,' Tsetsinovsky said at the TV BRICS studio in the Roscongress International Cooperation Area.
According to him, Russia is ready to enter foreign markets with its technological solutions as well as its products. He said one of the priorities is the localisation of Russian developments in partner countries, which would ensure a sustainable presence in those markets.
Tsetsinovsky noted that BRICS spans almost all continents and that in today's changing global economy, multifactor and multivector cooperation is essential.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily News Egypt
17 hours ago
- Daily News Egypt
TV BRICS, UN Global Compact Network Russia sign media partnership on sustainable business
The TV BRICS International Media Network and the UN Global Compact Network Russia have signed a media partnership agreement to promote sustainable business development. The agreement was signed at the 28th St. Petersburg International Economic Forum by Ivan Polyakov, Chairman of TV BRICS, and Natalia Dorpeko, Executive Director of the UN Global Compact Network Russia. As part of the cooperation, TV BRICS will provide media support to Russian businesses in the areas of corporate social responsibility and sustainable development. It will also support the promotion of Russian business interests and best practices through the platforms of leading media outlets in BRICS+ countries. The parties agreed to cooperate on promoting best practices in sustainable development and social responsibility, including implementing media, cultural and educational projects aimed at fostering international knowledge exchange and expanding business partnerships in line with the UN 2030 Agenda. 'In 2025, several milestone anniversaries will be marked in connection with the work of the United Nations: the 80th anniversary of the entry into force of the UN Charter; the 25th anniversary of the UN Global Compact, the world's largest initiative for implementing the sustainable development agenda; the 10th anniversary of the Millennium Declaration 'Transforming our World: the 2030 Agenda for Sustainable Development', which includes the 17 UN Sustainable Development Goals (Agenda 2030); and the 10th anniversary of the Paris Agreement, a legally binding international treaty adopted under the UN Framework Convention on Climate Change,' stated Natalia Dorpeko. 'The signing of the Agreement between the UN Global Compact Network Russia and TV BRICS is highly symbolic in this context and holds special potential for advancing international cooperation on the UN's sustainable development agenda.' TV BRICS Chairman Ivan Polyakov noted that the International Media Network has cooperated with the United Nations since 2018 and has extensive experience in media campaigns supporting the UN Sustainable Development Goals (SDGs). He added that the mission of the UN Global Compact and the work of its Russian network are closely aligned with the strategic objectives of TV BRICS. The UN Global Compact is an international initiative for business in the field of corporate social responsibility and sustainable development. It currently brings together around 25,500 companies and organisations from 167 countries, including about 4,500 from BRICS countries. The UN Global Compact Network Russia supports the implementation of Russia's National Development Goals. Its activities aim to represent Russian business interests and affirm the proactive stance of Russian business in seeking sustainable development pathways. In 2018, TV BRICS signed a cooperation agreement with the UN Secretariat and was included in the international SDG Media Compact. The network initiates projects on sustainable development, such as the TV series 'Agroparallels,' produced with a partner in Brazil, and plans to launch a new project, 'BRICS GRAIN,' in 2025. The agreement between TV BRICS and the UN Global Compact Network Russia will contribute to the implementation of the UN General Assembly Resolution 'Towards global partnerships: a principle-based approach to enhanced cooperation between the United Nations and all relevant partners'.
Daily News Egypt
17 hours ago
- Daily News Egypt
Honduras considers BRICS as part of shift towards multipolar cooperation, minister says
Honduras considers the BRICS group of nations as part of a shift towards multipolar cooperation and may apply for full membership in the future, the country's minister of strategic planning said. Speaking at the St. Petersburg International Economic Forum (SPIEF) 2025, Ricardo Salgado Bonilla said the country has a growing interest in global platforms that promote inclusive and equitable cooperation. He said the forum, held under the motto 'Common Values – the Basis for Growth in a Multipolar World,' offers an environment 'that is inclusive, where we can talk about our expectations with people who are interested in investment.' In an exclusive commentary, the minister discussed Honduras' recent application to join the BRICS New Development Bank (NDB), framing it as a step towards broader international cooperation. 'So for us it's a big step to take a look at the world to go and ask for being a part of this new bank, and, why not in the coming future also applying for a membership in BRICS,' he said at the TV BRICS studio in the Roscongress International Cooperation Area. Honduran President Xiomara Castro submitted an official request for the country to join the New Development Bank of BRICS during her visit to China in June 2023.
Daily News Egypt
17 hours ago
- Daily News Egypt
Russia's Putin says BRICS now 40% of global economy, calls for new growth model
The BRICS group of nations now accounts for 40% of the global economy, Russian President Vladimir Putin said, adding that the world is undergoing its most significant transformation in decades. Speaking at the plenary session of the St. Petersburg International Economic Forum (SPIEF), Putin said the influence of the BRICS countries has grown from 20 per cent of the global economy at the beginning of the century. He said Russia is proposing a new model of growth that is open, fair, free, focused on citizens' needs, and considers national interests. 'Russia invites its partners to contribute to the formation of a new global growth model, to jointly ensure the prosperity of our countries and the stable development of the whole world for many, many years to come,' the president said. Putin recalled that at the BRICS summit in Kazan, 35 countries noted the need for a new model of the world. He emphasised that dozens of countries are already implementing large-scale projects in nuclear energy, AI, aviation, and IT, and that trade between these countries has exceeded US$1 trillion. He also outlined key structural changes in the Russian economy, focusing on technological flexibility and high speed of implementation of solutions. Other world leaders at the forum echoed the theme of a changing global order. South African Deputy President Paul Mashatile emphasised that the topic of multipolarity is central in a changing world. He noted the active cooperation between Russia and South Africa in BRICS and the G20 and called Russia a key player in areas such as energy, food security, artificial intelligence and space. Mashatile focused on the growing demographic and industrial role of Africa. 'Africa is looking for partnerships based on equality, equal access to capital markets, knowledge and technology. It is in this regard that global platforms such as the St. Petersburg International Economic Forum become particularly important for us,' he said. The deputy president recalled that the continent's population will exceed 2.5 billion by 2050 and emphasised Africa's commitment to digital transformation, regional integration and the creation of a free trade area. Chinese Vice Premier Ding Xuexiang said that China will continue to promote a policy of openness and strengthen economic cooperation with developing countries. 'The civilisations of the world must develop through mutual enrichment, based on equality, dialogue, and respect for diversity. Every nation has the right to choose its own path and realise its own values,' he emphasised. National Security Advisor Nasser bin Hamad Al Khalifa of Bahrain thanked Russia for the invitation to the forum, recalling the King of Bahrain's visit to Moscow in May 2024 and stressing the importance of dialogue with President Putin. The sheikh praised Russia's economic policy, especially in the areas of industry and energy. 'This policy plays an important role in the development of strategically important sectors of the economy. […] It has a positive impact on the international investment climate. Russia is strengthening its economic relations with countries in our region and other states,' he said. According to him, Bahrain aims to expand international partnerships, including with Russia.
