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Cooperation of BRICS, SCO, EAEU states to provide opportunities for major economic spurt

July 09, 2015, 19:02 UTC+3 UFA

"There is no doubt - we have all necessary premises to expand the horizons of mutually beneficial cooperation," the Russian president said

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UFA, July 9. /TASS/. The countries of BRICS, the Shanghai Cooperation Organization (SCO) and the Eurasian Economic Union (EAEU) have all premises for a powerful economic breakthrough, if mutually-beneficial cooperation is expanded, Russian President Vladimir Putin told the joint meeting of the leaders of the three associations on Thursday.

He noted that the main theme of the meeting in the "outreach" format was raising the well-being of the peoples of the countries represented there. According to Putin, it would be very useful to discuss the prospects of development in Eurasia and raise the issues of strengthening ties with other regions.

"There is no doubt - we have all necessary premises to expand the horizons of mutually beneficial cooperation, to join together our raw material resources, human capital and huge consumer markets for a powerful economic spurt," the Russian president said.

Putin also noted that the continent had vast transit potential, pointing to "the construction of new efficient transport and logistics chains, in particular, the implementation of the initiative of the Silk Road economic belt and the development of transportation in the eastern part of Russia and Siberia." "This may link the rapidly growing markets in Asia and Europe’s economies, mature, rich in industrial and technological achievements. At the same time, this will allow our countries to become more commercially viable in the competition for investors, for creating new jobs, for advanced enterprises," he said.

The growth of world population "requires enhanced cooperation in food security, intensification of agriculture, prudent use of water resources and, of course, taking care of the Earth’s biosphere," Putin noted.

He pointed to another key moment: "It’s impossible to build a just and secure world without close humanitarian cooperation." That is why Russia is seeking to deepen contacts in culture, science, education and tourism with all its partners in BRICS, the SCO and the EAEU and in other formats, Putin added.

The BRICS group comprises Brazil, Russia, India, China and South Africa. The SCO is made up of Russia, Kazakhstan, Kyrgyzstan, China, Tajikistan and Uzbekistan. Afghanistan, India, Iran, Mongolia and Pakistan have SCO observer status, whereas Belarus, Turkey and Sri Lanka are "dialogue partners". The EAEU comprises Russia, Kazakhstan, Belarus, Armenia and Kyrgyzstan.

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