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Russian President Vladimir Putin will head Russia’s delegation to the 5th BRICS summit held in Durban on March 26-27.
The leaders of Brazil, Russia, India, China and South Africa will discuss crucial issues for the global economy, international and regional security, and ways to reform the global governance system, kremlin.ru says.
Russia, the world’s biggest energy exporter has decided to raise oil flows to China, the world’s top energy consumer.
President Putin has been insisting on Russia decreasing its dependence on European gas markets.
The BRICS Business Council will be launched during this summit – the idea formulated by Russia at the BRICS leaders’ meeting in Sanya, China, in 2011.
Sergey Lavrov, Russia’s foreign minister has said that BRICS is becoming an important part of the 21st century global governance system.
“The 5th BRICS summit is convened at a time when the role of the BRICS on the political and economic stage is rapidly growing,” said Lavrov in a welcome address ahead of the summit in Durban.
At the conclusion of the Summit, the sides are also expected to sign several bilateral documents.
Putin’s visit to South Africa is widely seen as giving a new impulse to the cooperation between the two countries and the BRICS bloc is a significant leverage.
Russia is a long-standing member of the BRICS, playing an active role in the bloc.
The first ever BRICS summit was held in the Russian city of Yekaterinburg in 2009.
President Putin underlined in February this year that strengthening of BRICS is a foreign policy priority of Russia.