A separate section of the BRICS declaration is devoted to cooperation in financial regulation. The BRICS declaration urges international organizations to act in the interests of developing countries and follow the sustainable development agenda, which was adopted by the UN. RISS expert also drew attention to some goals envisaged by the BRICS declaration. This is the creation of a single platform for mutual settlements (like SWIFT), which will be independent from the USA. He also recalled the importance of the New Development Bank.
"BRICS countries continue working in other global international organizations, such as the IMF, UN, World Bank, WTO. The creation of similar organizations doesn't mean that the BRICS member countries are on the path to isolationism. This only indicates these countries' stance in the context of international financial, economic, and political relations," M.Belyaev pointed out.