https://en.sputniknews.africa/20240417/egypts-minister-of-finance-says-his-country-supports-creation-of-brics-grain-exchange-1066107951.html
Egypt's Minister of Finance Says His Country Supports Creation of BRICS Grain Exchange
Egypt's Minister of Finance Says His Country Supports Creation of BRICS Grain Exchange
Sputnik Africa
WASHINGTON (Sputnik) - Earlier in January, the Russian Union of Grain Exporters said it may create its own trading platform and trade grain within BRICS... 17.04.2024, Sputnik Africa
2024-04-17T09:39+0200
2024-04-17T09:39+0200
2024-04-17T09:39+0200
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Egypt supports the creation of a BRICS grain exchange, Mohamed Maait, Minister of Finance of Egypt, told Sputnik. In March, Russian President Vladimir Putin supported this "very good" initiative, saying that speculative trading affects prices and consumers. Given that there are BRICS nations that produce and buy grain, they may be interested in establishing such an exchange, he added.Aside from that, Maait revealed that his country "sometimes" feels the impact of anti-Russian sanctions, however, the two countries know how to address the issue. For example, implementation of Russia's Mir payment system is currently being discussed with the Central Bank of Egypt.Furthermore, the North African country also hopes to see a greater flow of Russian tourists this year, Maait added.
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egypt, brics, economy, russia, vladimir putin, mir payment system, anti-russian sanctions, north africa, international, grain, tourism
egypt, brics, economy, russia, vladimir putin, mir payment system, anti-russian sanctions, north africa, international, grain, tourism
Egypt's Minister of Finance Says His Country Supports Creation of BRICS Grain Exchange
WASHINGTON (Sputnik) - Earlier in January, the Russian Union of Grain Exporters said it may create its own trading platform and trade grain within BRICS without using the US dollar.
Egypt supports the creation of a BRICS grain exchange, Mohamed Maait, Minister of Finance of Egypt, told Sputnik.
“We are working with them on many tracks: part of it within the newly developed bank, the other part is direct communication about it, also the third part was in BRICS,” Maait said on the sidelines of the IMF/World Bank Spring meetings in Washington, DC.
In March, Russian President Vladimir Putin
supported this "very good" initiative, saying that speculative trading affects prices and consumers. Given that there are BRICS nations that produce and buy grain, they may be interested in establishing such an exchange, he added.
Aside from that, Maait revealed that his country "sometimes" feels the
impact of anti-Russian sanctions, however, the two countries know how to address the issue. For example, implementation of Russia's Mir payment system is currently being discussed with the Central Bank of Egypt.
Furthermore, the North African country also
hopes to see a greater flow of Russian tourists this year, Maait added.
