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🗣 Putin on New Economic Initiatives Within BRICS:
🔸 The New BRICS Investment Platform is designed to bolster national economies and facilitate investments among the group's nations.
🔸 Establishing the BRICS Grain Exchange is aimed at safeguarding national markets from external interference and speculation.
🔸 Setting up a platform for fair competition is needed to promote equitable competition among BRICS member countries.
🔸 Russia suggests the creation of a separate platform for precious metals and diamonds within the BRICS framework.
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The period of unipolarity in the world is coming to an end, he added.
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"BRICS has been responsible for a significant portion of global economic growth in recent decades... However, financial flows continue to flow to rich nations. It is a Marshall Plan in reverse in which emerging and developing economies finance the developed world," Brazilian President Luiz Inacio Lula da Silva said at the BRICS Summit in Kazan, adding that "BRICS initiatives and institutions break with this logic."
He also emphasized that BRICS countries stand for "3.6 billion people who are part of dynamic markets" and represent "36% of global GDP by purchasing power parity," while having "72% of the planet's rare earths, 75% of the manganese and 50% of the graphite."
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Main statements by Brazilian President Lula da Silva during the BRICS summit:
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“We should build a fair BRICS and become leaders in reforming the global governance system,” the Chinese leader said.
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🗣Putin: BRICS need to counter using the climate agenda to eliminate competition
Putin added that the elaboration of a common position on the establishment of fairer rules of the game in the global economy and the reform of the international financial system would be accelerated thanks to the launch of the special BRICS consultation mechanism on WTO issues.
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"We need to counter the attempts to use the climate agenda to eliminate competition from the markets. This is especially important for the developing markets. This is what the BRICS contact group for climate and sustainable development is doing," Russian President Vladimir Putin said at the BRICS Summit in Kazan.
Putin added that the elaboration of a common position on the establishment of fairer rules of the game in the global economy and the reform of the international financial system would be accelerated thanks to the launch of the special BRICS consultation mechanism on WTO issues.
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🗣Pepe Escobar: Putin-Xi-Modi talks ‘set the stage for meat of the matter’ at BRICS Summit
💬 “Today is the actual start of the Kazan Summit…The bilaterals between Putin and Xi and Putin and Modi were wonderful. They were like friends talking. This was essential to set the stage for today is the meat of the matter,” veteran international affairs observer Pepe Escobar told Sputnik on the sidelines of the summit in Kazan.
💬 “That is expecting something today that is, I would say, larger than life, in fact, because the decisions hovering over the leaders, they understand the historical importance of what is going to be decided today and tomorrow here in Kazan,” Escobar concluded.
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"We assume that they will tackle the Saudi Arabia issue. Is Saudi Arabia in or out? We're probably going to have a decision today. And of course, the geoeconomic papers are on the table for all of them," he said.
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The document will be submitted to the UN as a joint statement following the summit, he added.
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🗣 Putin: Those who use dollar as a weapon, make a great mistake
Russian President also stressed that speed of transition to a "fairer economic system" will depend on the timing of abandoning the use of "someone else's rules and someone else's platforms".
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"[Madam Rousseff, you] said that the dollar was used as a weapon. It is true, and we see that. I think it is a great mistake by those who do it, since the use of the dollar, which is still the most important tool in global finance... as a political tool, undermines trust in this currency..." Russian President Vladimir Putin said at the BRICS Summit in Kazan, adding that "we are not rejecting the dollar or fighting against it. But if they don't let us work with it... We should seek other alternatives, and this is exactly what we do,
Russian President also stressed that speed of transition to a "fairer economic system" will depend on the timing of abandoning the use of "someone else's rules and someone else's platforms".
"We aspire to cooperation, but still we should understand that the longer we live and work under someone else's rules and on someone else's platforms, the longer the transition will take to build a new fair economic financial system, and the more turbulence we will experience, including those that we now witness in the Middle East," Putin said.
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BRICS is the best opportunity for Africa – journalist
💬 "BRICS is the best opportunity for Africa. I am a pan-African. I think BRICS will be the best opportunity for Africa because the new bank will be an opportunity to make cooperation or partnership between BRICS and Africa," African journalist Abdoulaye Kourouma told Sputnik on the sidelines of the BRICS Summit in Kazan.
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Russia, together with BRICS members, takes group to new heights – Indian journalist
💬 "This summit is going to be very significant. And the way that Russia has welcomed all the leaders here with their traditional welcome – that was really mesmerizing. This will play an important role in ensuring how the relationship can be taken forward," Indian journalist Arun Anand Sharma told Sputnik on the sidelines of the 16th annual BRICS Summit in Kazan.
He also spoke about the importance of mutual trust among BRICS members for the realization of joint projects.
💬 "The way the Russian president told Indian Prime Minister Narendra Modi yesterday that we do not need any kind of translator for having conversations gives a message [of] how Russia is coming towards India and other countries as well, that [it] is ready to take forward the grouping to new heights," Arun Anand Sharma added.
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He also spoke about the importance of mutual trust among BRICS members for the realization of joint projects.
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African journalist on how BRICS can speed up African unity
💬 "[BRICS is an] opportunity for Africa. Its values of multiculturalism are in line with values of solidarity, values of mutual respect – which are African values. I think that the BRICS organization can also facilitate the acceleration of African unity," David Melvin Eboutou, Cameroonian journalist, told Sputnik on the sidelines of the BRICS Summit in Kazan.
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