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BRICS countries support Russia in conditions of Western sanctions

April 01, 2015, 0:03 UTC+3 MOSCOW

Within the framework of our presidency, we have worked out a strategy of economic cooperation between BRICS countries, expert said

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MOSCOW, March 31. /TASS/. Countries of the BRICS /an acronym standing for Brazil, Russia, India, China and South Africa/ support Russian in conditions of unilateral Western sanctions, Georgy Toloraya, executive director of the National BRICS Study Committee, told TASS on Tuesday ahead of Russia’s presidency in that association starting from April 1.

"Within the framework of our presidency, we have worked out a strategy of economic cooperation between BRICS countries. I hope this strategy will be adopted at the BRICS summit in Russia’s Ufa," he said. "It is a rather long list of sectors and possible areas of cooperation BRICS countries can and will do joint business. It is a long-term programme and a major guideline for the future."

He said that in the period of Russia’s presidency the BRICS countries would launch the BRICS Development Bank and a pool of currency reserves. "It is not a quick process but it is an important step," the expert said. "Although now the question arises how the Development Bank would go with the Asian Infrastructure Investment Bank." Nonetheless, the process proceeded progressively concerning the Development Bank and the currency reserve pool, he noted.

Apart from that, Toloraya said, ministries of the BRICS countries were maintaining cooperation relations in 25 areas, with lots of agreements already signed.

The most important thing now, according to the Russian expert, was to win over BRICS countries’ support in withstanding the West’s anti-Russian sanctions and counteracting the use of double standards in its respect. "In this sense, we enjoy support from these countries," he said. "We hope this support will be declared quite clearly at the Ufa summit. Obviously, it is a very strong inspiring moment for us.".

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