| Follow us on:
|
The Chinese President discussed upcoming talks in a phone conversation with Rouhani.
The new system will be finalised around the end of 2014 at the earliest.
Indian Finance Minister Palaniappan Chidambaram announced the bank during his budget speech earlier this year.
Total trade within the BRICS bloc amounted to $6.1 billion last year, representing 16.8 per cent of global trade.
A market-reform strategy announced by China's leadership last week has buoyed stocks in Brazil and India.
Putin spoke to his Iranian counterpart on Monday discussing upcoming talks.
The Chinese government has so far allocated a total of 14.2 billion yuan to boost the cultural sector.
The second round talks will discuss items that will be liberalised by lowering or removing tariff barriers.
China takes centrestage for now, says the new report released on Monday.
China now aims to reduce total vehicle fuel consumption by five per cent or more compared to 2012.
