SCO and BRICS summits start in Ufa

On Wednesday, BRICS and SCO international summits start working in Ufa. Events in the capital of Bashkortostan will last until July 10.

This year Russia is chairing the BRICS and SCO. It is expected that at the SCO summit the beginning of the organization expansion will be announced. To date, the SCO includes Russia, China, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. Mongolia, India, Iran, Pakistan and Afghanistan have observer status. In September 2014, Pakistan and India formally applied to join the SCO. States-parties of the BRICS are Russia, Brazil, India, China and South Africa.
 

Economy
Russian presidential aide Yuri Ushakov told reporters earlier that the focus of the negotiations at the BRICS summit would be issues for improving the international economic environment and the actions of the Member States to expand mutual trade and investment relations, promotion of joint agenda in the framework of the Group of Twenty. "The reform of the management system of the International Monetary Fund remains urgent, as well as the increase of the role of rapidly developing economies in the Fund," - said Ushakov.