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    Delegates of the countries members of the BRICS (Brazil, Russia, India, China and South Africa) sign the creation of their new development bank during the 6th BRICS Summit in Fortaleza, Brazil, on July 15, 2014

    BRICS Ministers of Economy Meeting to Start Tuesday in Moscow

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    2015 BRICS, SCO Summits in Russia's Ufa (73)
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    Five ministers of economy and trade of the BRICS emerging market nations are set to meet in Moscow on Tuesday in the run-up to the seventh BRICS summit in the Russian city of Ufa on July 8-9.

    MOSCOW (Sputnik), Yulia Shamporova — The meeting is expected to focus on the key economic development initiatives that will be the highlights of Russia's presidency. Two proposals on the table are the BRICS' Economic Partnership Strategy and a roadmap for economic and investment cooperation between the member nations until 2020.

    The BRICS ministers of economy will assess the findings of the first BRICS expert panel on e-commerce that took place in April.

    An action plan for the development of cooperation between the BRICS nations in this field was outlined by Russia with the help from China. It is expected to become the legal framework for the Memorandum of Understanding on e-commerce among the BRICS countries.

    The ministers will also discuss the results of the round table on support and development of small and medium enterprises in the BRICS market, as well as the outlook for future cooperation.

    BRICS is an association of five major developing economies, composed of Brazil, Russia, India, China, and South Africa.

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    2015 BRICS, SCO Summits in Russia's Ufa (73)

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