Lavrov notes importance to implement initiatives of Russian, Brazilian BRICS presidencies

Russian Foreign Minister Sergey Lavrov emphasized the importance of jointly implementing initiatives launched during the Russian and Brazilian BRICS presidencies at a meeting of member states’ foreign ministers on the sidelines of the UN General Assembly, the Russian ministry said in a statement.

"Lavrov noted the importance of joint practical implementation of initiatives launched during the Russian and Brazilian presidencies, including the creation of a new investment platform, a BRICS cross-border payment initiative, a depository and clearing infrastructure, a reinsurance mechanism, and a BRICS grain exchange," the ministry said.

According to established practice, the meeting was organized by the Indian side as the future chairman of the association, according to the statement.