Key Takeaways
- Russia and Brazil agree to expand financial and economic cooperation through a regular bilateral dialogue.
- The dialogue aims to coordinate aspects of financial and economic cooperation between the two countries through regular bilateral meetings and exchange of technical information.
- The priority areas for the dialogue include macroeconomic policy, economic challenges and reforms, tax cooperation, financing of infrastructure projects, and strengthening multilateral financial cooperation within the BRICS, G20, and international financial institutions.
Mexico City: The finance ministries of Russia and Brazil signed a memorandum of understanding to begin a regular economic and financial dialogue, according to a document published in the Diario Oficial da Uniao, the official publication of the Brazilian government.
“The memorandum of understanding is aimed at coordinating aspects of financial and economic cooperation between the two countries through the establishment of a regular bilateral economic and financial dialogue,” the document says.
The parties will hold regular face-to-face and virtual meetings with experts to exchange information and coordinate their efforts. These meetings will be synchronized with the activities of the Intergovernmental Russian-Brazilian Commission on Economic, Trade, Scientific and Technical Cooperation, which aims to promote economic cooperation between the two countries.
The priority areas identified include the definition and prospects of macroeconomic policy, economic challenges and reforms, tax cooperation, financing of infrastructure projects, as well as strengthening multilateral financial cooperation within the BRICS, G20 and international financial institutions.
Information transmitted within the framework of the dialogue is considered confidential and is not subject to transfer to third parties without the written consent of the source party.
