BRICS Grain Exchange Would Strengthen Transparency in Agricultural Trade, Experts Say
BRICS Grain Exchange Would Strengthen Transparency in Agricultural Trade, Experts Say
“The project has the potential to become a platform for payments in national currencies and the establishment of reference prices independent of the external market,” economic analyst Le Hoa told Sputnik.
At the same time, he emphasized that the initiative would serve as a tool to reduce transaction costs and protect participants from price fluctuations.
Alongside the grain exchange, a digital platform called BRICS SEZ Investment Navigator is also being developed. The project aims to attract investments, facilitate companies’ access to preferential regimes, and provide detailed information on legislation and tax benefits, revealed foreign investment specialist Ly Hoai Luong.
In her view, both programs are necessary to harness the potential of the developing economies of BRICS countries and to make the most of the new wave of global economic growth.
“A clear shift is currently observed in Russia’s trade focus, which is moving away from the West toward the countries of the Global South and East. [...] These are areas that strengthen cohesion and mutual understanding among BRICS countries.”
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