It is fitting that the G20 summit agenda ties in well with the issues the BRICS countries see as priorities for their work. These priorities include developing a genuinely open global economy, expanding and diversifying trade, transport, and technology exchanges, and reforming the global financial and currency system, including by giving the developing countries a bigger role in the IMF.

The Economic Partnership Strategy through to 2020, which the BRICS countries adopted at the summit in Ufa, aims to achieve precisely these objectives. I believe that this strategy’s comprehensive implementation will strengthen the BRICS economies’ complementarity, and enable us to make broader use of common resources and reserves to increase goods and investment flows.

The full-format launch of the New Development Bank BRICS and the Currency Reserve Pool with total funds of $200 billion will help to make the global financial system more effective and reliable.