BRICS seeks fairer global economic order for developing nations, says envoy

KUALA LUMPUR: BRICS’s mission is to challenge the current global economic framework dominated by the few powerful nations that dictate the rules of international trade, says Russian ambassador to Malaysia Naiyl Latypov.

Latypov said one of BRICS’s key objectives is to protect and promote the economic interests of smaller and developing countries.

“It is the small and undeveloped nations that suffer during times of difficulties. Big nations, which dominate international trade, always have tricks to maintain their interests.

“These nations tend to act in their own self-interest, even at the expense of less developed countries,” he told reporters after the signing of a memorandum of understanding between RusGrain Union and Melewar Industrial Group today.

Latypov emphasised that the organisation offers a platform to build a more equitable international system.

“BRICS is not a union against something or somebody. It’s an organisation aimed at building a new, just and equal international order,” he said.