13:52 GMT +322 April 2018
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    Group photograph of BRICS leaders and the leaders of the invited states

    Russia Suggests Closer Cooperation Between BRICS, Eurasian Economic Union

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    The Russian minister of industry and trade suggested on Tuesday that efforts to eliminate trade barriers between the BRICS countries and the members of the Eurasian Economic Union should be increased.

    MOSCOW (Sputnik), Daria Chernyshova — On Tuesday, Moscow hosts the first meeting of BRICS Heads of Industrial Authorities to discuss industrial cooperation and new opportunities for growth.

    "I suggest elaborating on how to decrease different barriers between the BRICS countries and Eurasian Economic Union in order to increase mutual trade turnover, investment level, new large industrial projects," Denis Manturov said at the meeting of BRICS industry ministers in Moscow.

    "Eurasian Economic Union is not a close club in which only the CIS countries can be members," Manurov said.

    BRICS is an association of five major developing economies, including Brazil, Russia, India, China and South Africa. Together they account for one-third of the world's economy and 40 percent of its population, estimated at approximately 2.83 billion people.

    The Eurasian Economic Union is a Russia-initiated integration association, streamlining the flow of goods and services between member countries, including Russia, Kyrgyzstan, Armenia, Belarus, and Kazakhstan.

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