MOSCOW (Sputnik), Daria Chernyshova — On Tuesday, BRICS heads of industrial authorities met in Moscow for the first time to discuss industrial cooperation and new opportunities for growth.
"What makes these things different is that it is not only a trade relationship, we are trying to build a more integrated industrial process where Brazil produces one part of the process, Russia another part," Carlos Gadelha told reporters.
The industrial process could include raw materials, minerals, the chemical product chain, as well as in the defense aerospace industry, biotechnology, the food industry and health, he added.
"We have a specific goal in trade — to achieve 10$ billion of import and export between Brazil and Russia. Today it is around $6-7 billion," Gadelha stated.
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.