MOSCOW, January 30. /TASS/. Developing economic ties within BRICS will be the focus of Russia’s chairmanship of the intergovernmental group in 2024, Russian Deputy Foreign Minister Sergey Ryabkov, who serves as Moscow’s BRICS "sherpa," said.

"The financial and economic aspect of our cooperation will also be among the Russian chairmanship’s priorities, which will have a long-term positive impact on trade and investment exchanges within BRICS," he pointed out at a meeting of "sherpas" (senior officials who represent their respective heads of state or government in preparing for a summit - TASS) and "sous-sherpas" (other senior officials who assist the "sherpa" - TASS) held as part of Russia’s BRICS chairmanship. "Based on the decision that the BRICS leaders made [at the last summit] in Johannesburg, we will study ways to more actively use national and local currencies and payment tools in our cross-border transactions in order to reduce the negative side effects of the current dollar-dominated global economic system, and [we will also study how] to strengthen the role of the developing world in international finance," Ryabkov added.

"We believe that this work should get strong political support and the greatest attention," the senior Russian diplomat emphasized.

August 2023, six more countries, including Argentina, were invited to become BRICS members at the conclusion of the Johannesburg summit. However, Buenos Aires declined the invitation in late December of last year. Meanwhile, the remaining five new members - Egypt, Ethiopia, Iran, the United Arab Emirates and Saudi Arabia - became full-fledged members and fully joined in BRICS’ activities on January 1, 2024.