EEC advocated creation of single payment system with BRICS states

Chairman of the Eurasian Economic Commission (EEC) Vladimir Kovalyov proposed to form a payment system for the BRICS member states and the Eurasian Economic Union (EAEU) with a common payment card. This was reported by Kommersant.

It is noted that the system will unite the national systems of China (Union Pay), India (RuPay), Brazil (Elo), and the EAEC countries (Mir, Belkart and others). The EAEU member states are currently working on the formation of a single financial market.

According to the EEC press service, one of the main directions is to build a common exchange space. An appropriate roadmap is already under development. In addition, the press service added that the establishment of a supranational body to regulate the financial market was envisaged.

Recall that the EAEU comprises Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan. The BRICS consists of Russia, Brazil, India, China and South Africa.

Another "Integration" Eurasian Business Forum took place in October this year. The leitmotif of the event was the search for new tools and opportunities to finance sustainable growth. According to Aleksey Overchuk, Deputy Prime Minister of the Russian Federation and EEC Council member, the EAEU has enormous potential.