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FACTOBOX-Main points from the BRICS statement

Below are the key points from the Kazan declaration issued by the BRICS group after a summit in Russia.

ON UKRAINE:

We stress that all states need to act consistently with the Purposes and Fundamentals of the UN Charter in their totality and interrelation. We keep in mind with gratitude relevant proposals of mediation and great offices, targeted at a peaceful resolution of the conflict through dialogue and diplomacy.

ON THE MIDDLE EAST:

We restate our grave issue at the wear and tear of the circumstance and humanitarian crisis in the Occupied Palestinian Territory, in specific the unmatched escalation of violence in the Gaza Strip and in West Bank as a result of the Israeli military offensive, which caused mass killing and injury of civilians, required displacement and extensive damage of civilian facilities.

We express alarm over the situation in Southern Lebanon. We condemn the loss of civilian lives and the immense damage to civilian infrastructure arising from attacks by Israel in suburbs in Lebanon and call for immediate cessation of military acts.

ON WESTERN SANCTIONS:

We are deeply concerned about the disruptive impact of illegal unilateral coercive measures, consisting of unlawful sanctions, on the world economy, international trade, and the accomplishment of the sustainable development goals.

ON THE INTERNATIONAL FINANCIAL SYSTEM'S REFORM:

We highlight the need to reform the existing global financial architecture to fulfill the international financial difficulties including worldwide economic governance to make the global financial architecture more inclusive and just.

ON BRICS GRAIN EXCHANGE:

We welcome the initiative of the Russian side to develop a grain (products) trading platform within BRICS ( the BRICS Grain Exchange) and to subsequently establish it including expanding it to other agricultural sectors.

ON BRICS CROSS-BORDER PAYMENT SYSTEM:

We recognize the prevalent advantages of faster, low cost, more efficient, transparent, safe and inclusive cross-border payment instruments built upon the principle of minimizing trade barriers and non-discriminatory access. We welcome using local currencies in monetary transactions between BRICS countries and their trading partners.

ON BRICS CLEAR DEPOSITARY:

We consent to talk about and study the feasibility of facility of an independent cross-border settlement and depositary infrastructure, BRICS Clear, an effort to match the existing monetary market facilities, also as BRICS independent reinsurance capability, consisting of BRICS ( Re) Insurer, with involvement on a voluntary basis.

ON FINANCIAL INNOVATION:

We invite the BRICS Interbank Cooperation System (ICM). concentrate on facilitating and broadening innovative monetary. practices and approaches for tasks and programs, including. finding acceptable systems of financing in local. currencies.

ON THE IMF:

We declare our dedication to maintaining a strong and. efficient Global Financial Safeguard with a quota-based and. sufficiently resourced IMF at its center.

ON G20:

We recognize the importance of the continued and productive. operating of the G20, based on consensus with a concentrate on. result-oriented outcomes.

ON PREVENTION OF FUTURE PANDEMICS:

We support the initiatives of the BRICS R&D Vaccine Center,. further advancement of the BRICS Integrated Early Warning System. for avoiding mass infectious diseases dangers.

ON BIG CATS:

While valuing the efforts of our countries to maintain. uncommon types and keeping in mind the high vulnerability of big cats, we. bear in mind of the Republic of India's effort to develop an. International Big Cats Alliance and motivate BRICS nations. to work together to make further contributions to the. preservation of big felines..

(source: Reuters)