06 July 2015, Monday, 16:33

Trade preferences can be a topic of discussion at the BRICS Summit in Ufa

 

UFA, 6 July 2015. /Bashinform News Agency, Galiya Nabieva/. The BRICS countries can discuss trade preferences at the Summit in Ufa on 8-10 July 2015. This was told by the First Deputy Minister of Economic Development of Russia Alexey Likhachev in an interview with TASS News Agency.

At the same time, the politician said that it was too early to talk about signing the agreement between the BRICS countries on a free trade zone, but at this stage in the framework of bilateral cooperation "the provisions of this agreement in its elements" were discussed.

In particular, a joint research team works on the development of preferential policy between India and the EEU. "I think we are ready to discuss this issue with the Republic of South Africa, because our economies are complementary, we supplement each other rather than compete in key sectors", Alexey Likhachev said.

According to him, certain difficulties may arise with Brazil due to the fact that its economy is in many ways competitive to Russia.

Alexey Likhachev explained that Brazil was a member of Mercosur, and products made there with participation of Russian companies would be distributed within the borders of Mercosur countries across the Latin American continent almost free of duty.