The BRICS countries supported the initiative to set up a grain exchange
The 14th BRICS Agriculture Ministers' Meeting was held in Moscow. The event, chaired by Agriculture Minister Oksana Lut, was attended by representatives of Brazil, China, India, South Africa, South Africa and new members of the association – the United Arab Emirates, Iran, Egypt and Ethiopia. The meeting discussed the development of sustainable agriculture, establishment of the BRICS grain exchange and other topical issues.
In her speech, Oksana Lut noted that the BRICS countries have the best resource base – the share of agricultural land is more than 30 per cent of the global area. She also emphasised the complementary nature of the economies of the BRICS countries.
According to her, one of the outcomes of the Russian BRICS Chairmanship this year was a general report on the successful implementation of the Action Plan on Agricultural Cooperation for 2021-2024. The document was earlier approved at the meeting of the Working Group on Agriculture of the association's countries.
"In 2025, the Brazilian presidency will have to develop and approve a new plan, taking into account the countries that have joined. The Russian side is ready to take an active part in the development of the future document," Oksana Lut said.
According to Iranian Deputy Agriculture Minister Alireza Mohajer, about 40 per cent of the world's grain is supplied by the BRICS countries and they can export these products through the republic's southern ports. The official noted his country's potential as a hub for trade in many types of goods, including using the North-South, East-West international transport corridors.
Mohajer added that Iran can also play an important role in establishing imports of corn and soya beans from countries such as Brazil to the BRICS states. This was reported by Mehr News Agency, a partner of TV BRICS.
In conclusion, the parties adopted a Joint Declaration reflecting all the priorities of the Russian Chairmanship. The document will help synchronise the positions of the partner states on issues affecting the further development of mutually beneficial cooperation in the field of agro-industrial complex. One of the important results of the current meeting, the Minister called the fact that the partners in the association supported the initiative to create a grain exchange.
Photo: press service of the Ministry of Agriculture of Russia
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