Russia and Turkey agreed to work alongside representatives of the business communities to identify possible obstacles for conducting payments in their national currencies.
Russia and Turkey are set to work on increasing payments between the countries in their national currencies, the Russian-Turkish Intergovernmental Commission said Wednesday.
“The working group on financial and banking cooperation, taking into account information about detected barriers, is to continue its work to eliminate them and increase the volume of payments in the national currencies of Turkey and Russia,” the commission said.......
Russia and Turkey sign major trade deals
President Putin says South Stream gas pipeline to EU scrapped and names Turkey as partner for alternative project.
The leaders of Russia and Turkey have signed a series of major trade and energy deals in the Turkish capital amid differences over the crises in Syria and Ukraine as Moscow copes with Western sanctions.
Vladimir Putin, Russia's president, said at a news conference in Ankara that Russia would reduce the gas price for Turkey by six percent, starting next year, and agreed to supply it with an additional three billion cubic metres.
Putin also announced Moscow was scrapping the South Stream natural gas pipeline project - that would avoid Ukrainian territory to deliver Russian gas to Europe - because of the European Union's opposition to it..........
Rattled by Chinese submarines, India joins other nations in rebuilding fleet
India is speeding up a navy modernization program and leaning on its neighbors to curb Chinese submarine activity in the Indian Ocean, as nations in the region become increasingly jittery over Beijing's growing undersea prowess.
Just months after a stand-off along the disputed border dividing India and China in the Himalayas, Chinese submarines have shown up in Sri Lanka, the island nation off India's southern coast. China has also strengthened ties with the Maldives, the Indian Ocean archipelago.
China's moves reflect its determination to beef up its presence in the Indian Ocean, through which four-fifths of its oil imports pass, and coincides with escalating tension in the disputed South China Sea, where Beijing's naval superiority has rattled its neighbors............
China, Brazil satellite launch boost for developing countries: Xi
Brazil and China intend to increase bilateral science and technology cooperation, Chinese President Xi Jinping and his Brazilian counterpart Dilma Rousseff said on Sunday in remarks that would be welcomed by Brazilian authorities who want to reduce the dependence on US and EU space equipment.
In his message, Xi noted that the CBERS (China-Brazil Earth Resources Satellite (CBERS) Program has “set a successful precedent for developing countries to conduct cooperation in space industries”.
In recent years, the program has yield fruitful results, claimed the Chinese President on Sunday. China launched the CBERS-4 satellite, jointly developed with Brazil, on Sunday from the Taiyuan base by Long March-4B rocket, the milestone 200th flight for the Long March rocket family and the fifth joint mission for BRICS members China-Brazil...........
Ahead of President Vladimir Putin's visit here, Indian and Russian officials will be holding talks on the multi-billion dollar Fifth Generation Fighter Aircraft (FGFA) joint project.
Defence sources said talks would be held before Putin's visit on December 10 as both India and Russia are keen to go ahead with the FGFA...........
India does not support West sanctions against Russia: Official
An Indian official says New Delhi refuses to support the Western sanctions against Russia over the crisis in Ukraine and seeks instead to strengthen relations with Moscow.
Ajay Bisaria, the deputy secretary for Eurasia at India’s Foreign Ministry, made the remarks on Friday while confirming a visit by Russian President Vladimir Putin to India next week.
“India has clearly said that it cannot be part of the economic sanctions against Russia,” said Bisaria.
The deputy secretary added that New Delhi and Moscow hold a “special and privileged strategic partnership,” saying the two countries are shaping “a joint view of their relation for the next 10 years” in order to strengthen ties.
India and Russia “have identity or similarity in views on important global issues, including on the threats of terrorism, particularly in Russia and the neighborhood and on the need to defuse the Cold War-like tensions that are increasingly manifesting themselves in global relations,” Bisaria added........
BRICS to jointly fight tuberculosis, Ebola
Health ministers from the BRICS group signed an agreement Friday in the Brazilian city of Rio de Janeiro to establish a joint strategy to fight tuberculosis and a working group to thwart the spread of the deadly Ebola virus. Brazil currently holds the chair of BRICS.
The ministers from Brazil, Russia, India, China and South Africa have agreed to boost the distribution of anti-tuberculosis medicine among affected people in BRICS countries and other poor nations.
The joint strategy is expected to be implemented from March 2015........
The International Monetary Fund has said that China has overtaken the United States for the first time as the largest economy in the world.
According to Fox News, the US has been overtaken as the largest economy for the first time in decades.
The IMF recently released the latest numbers for the world economy, stating that China will produce $17.6 trillion and the US would produce $17.4 trillion in terms of goods and services.....
“China helped us belong to BRICS”- Zuma
South African President Jacob Zuma on Friday said the African country owes its membership of BRICS to Chinese efforts.
“China helped us to belong to the BRICS family. We are proud to count the People’s Republic of China as among such friends who lent moral, material and political support to achieve a free and just South Africa,” said Zuma while delivering a lecture at China’s prestigious Tsinghua University.
In 2011, South Africa joined to give the BRICS a broader geographic representation. South Africa will establish an African regional center for the newly formed $100 BRICS bank........
India in favour of trade with Russia using rupee, rouble - P.S. Raghavan
India is eager to use national currencies in trade with Russia, Indian Ambassador to Russia, P.S. Raghavan told RIA Novosti in an interview.
“Our two countries have been discussing trade in national currencies as an initiative that can significantly increase the volume of bilateral exchanges of goods. Our Central Banks have recently set up a Joint Working Group to work out modalities,” the ambassador said. “We would like to see an early completion of this exercise.” He added that there have also been talks between the Export-Import Bank of India (EXIM Bank) and the Vnesheconombank for a guarantees cooperation arrangement, “by which they would facilitate loans in local currencies for Indian and Russian companies seeking to invest in each other’s countries. This arrangement could boost mutual investment.”.......