PM Modi proposes annual BRICS trade fair for improving economic cooperation

Prime Minister Narendra Modi on Thursday proposed an annual BRICS trade fair aimed at improving business relations between the members and added that economic cooperation between the nations is important for the development of the grouping.

"The BRICS economic cooperation strategy is going to become an important milestone in development of BRICS. I welcome the setting up of dedicated BRICS information sharing and exchanging platform. It offers a repository of information to the business community of our nations. I am going to propose an annual BRICS trade fair, which will be hosted by the country chairing BRICS. India will be happy to host first such trade fair," Prime Minister Modi said while addressing the BRICS Business Council here.

He further urged the BRICS nations to assess their respective strengths and cooperate on skill development.

"We need to see our strengths and then cooperate on skill development…We can form good coordination in skill development," he said.

Describing BRICS summit as an 'important meet', Prime Minister Narendra Modi thanked Russian President Vladimir Putin for hosting the summit.