Translation. Region: Russian Federal
Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.
Deputy Prime Minister of the Russian Federation Dmitry Patrushev held a working meeting with the Minister of Economy of the United Arab Emirates Abdullah Bin Touq Al-Marri. The event took place on the sidelines of the XXVIII St. Petersburg International Economic Forum. The parties discussed cooperation between the two countries, in particular within the framework of the creation of a grain exchange of the BRICS countries.
“The relations between the Russian Federation and the United Arab Emirates are of a strategic nature. The United Arab Emirates are one of Russia’s most important economic partners in the Middle East. The agro-industrial sector makes a major contribution to the development of trade. Last year, the turnover of agricultural products between our countries grew by almost a third. Russia is one of the world’s leading grain exporters. These products form the basis of Russian deliveries to the United Arab Emirates. We count on further cooperation. At the same time, we believe it is important to develop dialogue within the BRICS association. It accounts for almost half of the world’s consumption of grain and oilseeds,” said Dmitry Patrushev.
The Deputy Prime Minister recalled that Russia had put forward an initiative to create a grain exchange of BRICS countries, which should simplify grain trade within the organization. Dmitry Patrushev noted that the creation of a BRICS grain exchange will strengthen global food security. The participating countries will be able to form independent price indicators within the association, which will contribute to a more objective assessment of the cost of agricultural products on the world market.
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