Posted on April, 21, 2025 at 12:07 pm
BRICS member countries have expressed unified support for a Russian initiative to establish a dedicated grain exchange and a common trading platform for agricultural products and raw materials within the bloc.
In a joint declaration issued after a meeting of BRICS agriculture ministers in Brasília, the group acknowledged the strategic importance of the proposal, aimed at promoting fair and equitable trade, News.Az reports, citing TASS.
"We acknowledge the importance of a continued elaboration of the initiative to establish a grain trading platform within BRICS (the BRICS Grain Exchange) and its subsequent development, and expanding into other agricultural products and commodities and the implementation of an equitable trading system," the ministers said.
Russian President Vladimir Putin put forward the initiative of creating the BRICS grain exchange at the summit of the community in Kazan in 2024.
"We emphasize the vital role of BRICS countries as leading global producers and consumers of grains and reaffirm commitment to strengthening mutual agricultural trade. Our countries are engaged in advancing discussions over facilitating transactions between grain producers, exporters and importers ensuring transparent and secure payments," the ministers noted. They also supported development of integrated systems of electronic certification of foods.
Source: News AZ