The Russian side could work on this idea as part of its BRICS chairmanship in 2024
A permanent transport commission can be established within BRICS (a grouping of the world economies of Brazil, Russia, India, China, and South Africa). Russia can work on this idea as part of its BRICS chairmanship in 2024, Russian President Vladimir Putin said when taking part, via videoconference, in the 15th BRICS Summit, held in Johannesburg, South Africa on August 22–24. The transcript of the President’s speech is available on the official website of the Kremlin.
“We believe that the time has come to establish a permanent BRICS transport commission, which would deal not only with the North-South project, but also on a broader scale with the development of logistics and transport corridors, interregional and global. If our partners agree, the Russian side could work on this idea as part of its BRICS chairmanship in 2024,” said the President.
According to him, an important priority of BRICS cooperation is the creation of new sustainable and safe transport routes. “I have mentioned the relevance of accelerated development of transcontinental routes such as the North-South corridor, which will connect Russian ports in the northern seas and the Baltic Sea with sea terminals in the Persian Gulf and the Indian Ocean and in the future, will be able to facilitate annual transit of up to 30 million tonnes of cargo,” added Vladimir Putin.
Russian President also said that the five partner states account for a greater share in global GDP than the so-called Group of Seven in terms of purchasing power parity. Over the past decade, BRICS countries have doubled their investment in the global economy, and their total exports have reached 20 percent of the global total.