A delegation from JSC Russian Railways headed by Alexander Misharin, first vice president of the company, has taken part in the BRICS Business Forum and Trade Fair in New Delhi, India. Events are timed to correspond with the 8th BRICS Summit, which will be held in India on October 15–16.
Within the framework of the Business Forum, a panel discussion on the cooperation of BRICS countries in infrastructure development projects, including in the field of railway transport, was held. In his speech, Mr. Misharin said that the states have significantly increased their focus on infrastructure in recent years.
[quote font_size=”20″]“The high value of the infrastructure component of our cooperation was defined by the Strategy of Economic Partnership of BRICS countries and approved by state leaders at the summit in July 2015 in Ufa,” [/quote]said Mr. Misharin.
JSC Russian Railways has significant experience in interacting with each state association bilaterally, as well as in areas of specialized organizations. For example, Russia and China are cooperating in the development of the East–West international transport corridor, which plays a key role in ensuring Eurasian land transportation.
“In the past year, transit container traffic from China through Russia to Europe doubled, and this trend is continuing. Our interaction with the largest sea port of China, Yingkou, is important here, and the agreements signed with Alibaba and Russian Post on the transport of cargo and mail contribute to this,” said Mr. Misharin.
Another international transport corridor that originates with two BRICS countries (Russia and India), as well as Iran, is the North–South corridor. As part of the development of cooperation with India, JSC Russian Railways and the Ministry of Railways of the Republic of India signed a Memorandum of Understanding in 2015, providing for the implementation of joint projects, including the modernization of the existing railway infrastructure in India. Consultations are under way on potential areas of cooperation in the development of rail transport with other BRICS countries as well: South Africa and Brazil.
According to the first vice president of JSC Russian Railways, it is necessary to have optimal fundraising mechanisms in order to successfully implement joint projects.
[quote font_size=”20″]“In this context, the launch of the New Development Bank, created by the BRICS countries to finance infrastructure projects, is important. I am confident that the work of this bank, including in conjunction with national-development institutions, will be an impetus for the promotion of joint projects,”[/quote] said Mr. Misharin.