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BRICS establishes itself as reputable international group, says Medvedev

The politician pointed out that the work might require major investments

MOSCOW, August 31. /TASS/. BRICS has established itself as a reputable and independent international group, Russian Security Council Deputy Chairman Dmitry Medvedev said.

"The recent summit of the five-member group’s leaders confirmed that BRICS had rightfully established itself on the international stage as a major independent and reputable platform. In a certain sense, it is an alternative to what was created before, as this is where member states work to resolve the most pressing global issues based on the principles of equality and respect for each other’s interests," he pointed out at a meeting of the presidium of the Russian Presidential Council for Science and Education.

"New members will give BRICS an additional impetus. All this will need to be enshrined in the Concept of Russia’s BRICS Chairmanship next year. This will make it possible to boost many joint research projects, which is very important for us," Medvedev stressed.

The Russian Security Council deputy chairman pointed out that the work might require major investments. "We need to figure out what tools to use here, including the funds of the New Development Bank and some other financial institutions," he added.

BRICS is an informal international organization that initially brought together Brazil, Russia, India, China and South Africa. The acronym BRICS was derived from the first letters of the countries’ names. The member states decided at a summit on August 24 that Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates would join the group on January 1, 2024.