Russian diplomat says it’s time for practical actions in developing economic cooperation in BRICS

MOSCOW, April 29. /TASS/. The time of declarations and statements on economic cooperation in BRICS has passed, it is now high time for practical activities, Russian Deputy Foreign Minister and Russia’s Sherpa to BRICS Sergey Ryabkov told TASS on Friday. "India’s approach toward its chairmanship (in BRICS) can be best described as ‘combination of succession and innovation’," Ryabkov said. He noted that India will continue the tradition of focusing on issues of economic cooperation in BRICS. "Two events were already held in April on this issue at the level of experts," the diplomat added. Ryabkov said that the emphasis will be made on the strategy of economic partnership and projects that will get funding from the New Development Bank. "We, on our behalf, want even more concrete projects to emerge. The time of declarations and statements in this sphere has passed, we need practical activities. This is important for all BRICS countries," the deputy foreign minister noted. Among innovations of India’s chairmanship are New Delhi’s plans to focus on security cooperation, on cooperation between civil societies and businesses, he concluded. BRICS, an informal association of five fast-developing countries - Brazil, Russia, India, China and South Africa - was founded in June 2006. Its first official summit was held in June 2009 in Yekaterinburg. Since then BRICS summits are held every year in the participating countries alternately. The latest summit was held on July 8 and July 9 in Ufa. Read more