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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.

    Moscow Views Russia-BRICS Ties as Priority for Foreign Policy - Official

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    2015 BRICS, SCO Summits in Russia's Ufa (73)
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    Moscow considers cooperation with BRICS countries as its top priority, Russia's economic development minister said.

    MOSCOW (Sputnik) – BRICS development is a priority for Russia’s foreign policy, Russian Economic Development Minister Alexei Ulyukayev said Tuesday.

    “Russia attaches great importance to the development of interaction between Russia and the BRICS countries. This is a priority of our foreign policy,” Ulyukayev said during a BRICS economic ministerial meeting in Moscow ahead of the BRICS summit in Ufa.

    Ulyukayev said that close economic partnership among the BRICS members has led to the launching of ambitious initiatives and new plans in their agendas.

    "We have already gained important experience on working on such initiatives as joint trade, a trade study initiated by South Africa, the framework of BRICS close economic partnerships and the BRICS trade and investment facilitation plan prepared by China," he added.

    The process of India and Pakistan joining the Shanghai Cooperation Organization will take time and their membership in the organization will be finalized at the SCO Summit in India, Russian presidential aide Yuri Ushakov said
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    Ulyukayev noted that for the first time the BRICS countries managed to negotiate and finalize a comprehensive document, the Strategy for BRICS Economic Partnership, that touches upon the responsibility of different ministers and requires high-level coordination.

    The Russian official added that the strategy introduced entirely new areas of cooperation such as physical, institutional and people-to-people connectivity.

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

    Finance ministers and heads of the central banks of BRICS countries are gathering in Moscow on Tuesday ahead of the seventh BRICS summit, due to take place in the Russian city of Ufa on July 8-9. BRICS ministers of economic development and trade are set to meet in the Russian capital on Tuesday.

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

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    BRICS, Russian Ministry of Economic Development, Alexei Ulyukayev, Russia
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