Dmitry Medvedev: "Russian authorities should convene BRICS Summit in Ufa at the highest level"

UFA, 15 April 2015. /Bashinform News Agency, Galiya Nabieva/. Prime Minister of the Russian Federation Dmitry Medvedev named holding the BRICS Summit in Ufa at the highest level as task of the authorities. He stated this at the enlarged meeting of the board of the Ministry of Finance, according to TASS.

"This year we will host the BRICS Summit in Ufa. Our task and the task of the Ministry of Finance - to hold it at the highest level," the agency quoted the Prime Minister of Russia.

Dmitry Medvedev also touched on some economic aspects of the past year. In particular, he mentioned interaction with the nearest neighbours of the Russian Federation, the Eurasian Economic Union, "a number of important agreements with other countries, for example, creation of the first free trade zone with Vietnam, which are in a high degree of readiness".

The BRICS is the union of the five countries: Brazil, Russia, India, China and South Africa. The organization was founded in June 2006 at the St. Petersburg Economic Forum (then it was called BRIC, in 2009 it was joined by South Africa). Russia is chairing the BRICS in 2015. In the period from April 2015 to April 2016 the Russian Federation presides in the Business Council of BRICS. As part of the Presidency it is planned to open new ways of multi-sectoral cooperation. The main goals are the launch of the New Development Bank and Pool of currency reserves. The work in this area will be guided by the Strategy of Economic Partnership until 2020, the plan which was submitted by Russia at the Summit in Brazil in 2014.