BRICS countries should cooperate in energy, agriculture - expert

NEW DELHI, July 3. /TASS/. The energy sector, agriculture, health care and infrastructure development are the most promising areas of trade, economic and investment cooperation between the BRICS countries (Brazil, Russia, India, China, South Africa), Chairman of the BRICS Business Council representing India Onkar Kanwar told TASS on Friday. "First consider the energy sector. India and China can offer high quality wind and solar power equipment. Russia can share its expertise with others for improving productivity in matured oil and gas fields. It can also share its experience on underground coal gasification," he said. "Further, as use of biofuels is on the rise, exchanging knowledge on related technologies can be an important component of cooperation in energy sector." Referring to the agricultural projects, Kanwar noted that "ensuring food security was a key public policy objective" for the five BRICS member-countries. "Co-developing climate change resistant crop varietis must also be considered," he said. He added that "trade in agricultural commodities amongst the BRICS countries also presents several interesting avenues." "India is a large market for oilseeds, and this can be an opportunity for Russia." Concerning health care, Kanwar said that the BRICS countries should cooperate in "providing affordable medicines to people." "The BRICS nations have also agreed to promote exports of vaccines for diseases such as HIV/AIDS, malaria, TB and others," he noted. "Pharma companies from these countries should come together and endeavour to support their governments in this objective. Be it early stage discovery work or clinical trials, companies must look at all avenues for cooperation." The main session of the BRICS Business Council will be held on July 8 in Ufa, the capital of Russia’s Republic of Bashkortostan. "We are going to finalise the second Annual Report of the BRICS Business Council and the same will be presented to the Heads of State in Ufa," Kanwar added. BRICS, the association of five countries (Brazil, Russia, India, China and South Africa), was founded in June 2006 within the framework of the St.Petersburg International Economic Forum (SPIEF). At that time it was called BRIC, with South Africa joining the association in 2009. Russia holds the BRICS chairmanship in 2015. During the association’s summit in 2014 the BRICS countries signed an agreement on establishing the New Development Bank (NDB) to fund infrastructure and sustainable development projects in the BRICS member-states and developing countries. Read more