BRASILIA, May 21. /TASS/. The multisided trade system is under a huge pressure, which directly influences the whole world, Russian Economic Development Minister Maksim Reshetnikov said when speaking at a meeting of BRICS trade ministers.
"Today’s key task is to make sure that in the long-term we move to an efficient and competitive economy, high business activity and innovations," he said.
Russia can only do that with the help of a set of interrelated measures covering investment and easing of doing business, the development of labor market and removal of infrastructure and technological issues, the minister added.
"That said, same as our BRICS partners, we are facing external issues hindering economic growth. First of all, we admit that the multisided trade system is under a huge pressure," he stressed.
He recalled that Russia faced a serious breach of international trade rules by certain countries over the past years. "Today economic pressure directly influences the whole world through trade," Reshetnikov concluded.