Russian and Tanzanian banks are discussing the transition to trade in national currencies, as well as in the currencies of India, China, and other BRICS countries, Russian Ambassador to Tanzania Andrey Avetisyan told Sputnik.
"The prospects of transition to trade in national currencies are being discussed between our banks [...] If Tanzanians see that Russia's trade with China and India is almost entirely in national currencies, and India and China are Tanzania's largest trading partners, then there are opportunities here. Indian rupees, Chinese yuan and Russian rubles, I think, can be used by Tanzanians for offset schemes," the envoy said on the sidelines of the Valdai Discussion Club conference in Tanzania on Wednesday.
Avetisyan also noted the prospect of settlements in other BRICS currencies. According to him, the UAE, as an important partner of Tanzania, can also integrate its currency, and then the dirham, rupiah, yuan and ruble can be mutually exchanged and complemented.
Valdai Discussion Club's second Russian-African conference in Dar es Salaam brings together about 40 experts from Russia and East Africa to discuss the model of Moscow's interaction with the continent's states, one year after the second Russia-Africa Summit in St. Petersburg.
The organizers expect that the results of the discussions will form the basis for the expert preparation of the third summit, which will also be held in an African country.