KAZAN, October 24. /TASS/. Russia expects that the BRICS grain exchange will help the association make its trade independent and protect it from external risks, Russian President Vladimir Putin said during an Outreach/BRICS Plus meeting in Kazan.

"As part of BRICS, we initiated the creation of a grain exchange. We expect that such a mechanism will contribute to the establishment of a transparent and impervious to external risks regime for trading agricultural products both between the members of the association and with our other partners," Putin noted.

Speaking at the BRICS Forum in Kazan earlier, the Russian leader said that over time it will be possible to think about "transforming the grain exchange into a full-fledged commodity exchange."