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Russian PM lauds BRICS as efficient platform

Xinhua, September 16, 2015 Adjust font size:

BRICS, a bloc of the world's five leading emerging economies, has evolved from a club to an efficient platform for discussing key global issues, Russian Prime Minister Dmitry Medvedev said Wednesday.

"Today, it is a real working platform where we can coordinate positions on various issues," Medvedev told a press conference held after a meeting of a Russian-Brazilian cooperation commission.

Both countries are BRICS members, with the other three being India, China and South Africa.

"The world is in a phase of instability. ... All of this calls for a maximally consolidated position," he said.

Noting that the New Development Bank set up by BRICS countries opens broad possibilities for joint projects, he said: "We are now negotiating the setup of a joint pool of currencies, which in certain situations could protect our economies from the adverse external impact and other risks."

BRICS countries make up 40 percent of the world population and account for more than 25 percent of global GDP.

Russia holds the rotating presidency of the bloc this year. Endi