Russia, Brazil keen to increase settlements in national currencies, direct banking cooperation - Mishustin

BRASILIA Feb 5 (Interfax) - Russia and Brazil will need to increase settlements in national currencies, as well as the use of independent payment systems in order to expand trade and economic cooperation, Russian Prime Minister Mikhail Mishustin said at a meeting of the high-level Russian-Brazilian cooperation commission.

"We need to increase mutual settlements in national currencies, develop direct banking cooperation and, of course, make more use of the independent payment and settlement architecture to carry out our common plans successfully," he said, opening the meeting.

Mishustin also called for modern transport corridors and the creation of new production and logistics chains. He said Brazil was Russia's biggest partner in Latin America, with nearly half of Russia's total trade with the region. Further cooperation between the countries will develop in line with the decision by the Russian and Brazilian to forge a technological alliance, he said.

"Russia is ready to share its expertise in promising areas such as peaceful atom technologies as well as artificial intelligence, digital government services and automated solutions in various fields. Promoting advanced Russian pharmaceuticals on the Brazilian market will help improve health care for citizens," he said.