Pakistan’s application is being considered, said foreign ministry spokesman Qazi Khalilullah. “Sooner or later this application will be granted, after the United Nations Security Council sanctions are lifted”, – Kobyakov said.
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The process of India’s accession to the SCO is beginning, Putin said, adding that it was “a very important event”.
In addition to the economic issues, the grouping of BRICS was expected to hold serious deliberations on the regional and worldwide political and security situation.
The two-day meeting of leaders from Brazil, Russia, India, China and South Africa is taking place in the remote Russian city of Ufa, originally a fortress built on the orders of Tsar Ivan the awful over 1,000km from Moscow.
Section of the local media had reported that the prime minister is likely to meet his Indian counterpart Narendra Modi on the sidelines of the summit.
President and Chairman of VTB Bank Management Board, Supervisory Council member Andrei Kostin at the SCO and BRICS Financial Forum in Ufa.
Moscow, July 6 (IANS): BRICS countries may sign an agreement on greater economic integration in the next five years, Russia’s First Deputy Economic Development Minister Alexei Likhachev said on Monday. “India and Pakistan’s admission to the SCO will play an important role in the SCO’s development it will play a constructive role in pushing for the improvement of their bilateral relations”, he said.
Modi will also have bilateral meetings with Iranian President Hassan Rouhani besides leaders of BRICS members.
Xi’s entourage for Ufa included senior member of the politburo of the ruling Communist Party of China Wang Huning and Li Zhanshu, State Councilor Yang Jiechi and central bank governor Zhou Xiaochuan among others.
The meeting between both the Prime Ministers in Russian Federation was “tentatively decided” during the visit of foreign secretary S. Jaishankar to Islamabad at part of the SAARC Yatra in March.
With the bank’s funding, developing countries, especially the African states, can improve their infrastructure, rather than struggling with the limited funds the current worldwide agencies provide them, it said.
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The Chinese side has also expressed confidence on economic cooperation among the BRICS countries, saying the newly established development bank and emergency reserve arrangement have given fresh impetus to growth. Till now India along with Afghanistan, Iran, Mongolia and Pakistan had the observer status in the organization which mainly focussed on the anti-terrorism cooperation among the member states.
