Tashkent, Uzbekistan (UzDaily.uz) — BRICS has tasked its Payment Task Force (BPTF) with continuing to seek practical solutions for cross-border payments between BRICS countries, stressing that such transactions should be fast, low-cost, accessible, efficient, transparent and secure. The New Delhi Declaration adopted at the 18th BRICS Summit said.
According to the declaration, the Payment Task Force continues to explore effective mechanisms for cross-border payments, based on guidance previously provided by BRICS leaders in the Kazan and Rio de Janeiro declarations under the BRICS Cross-Border Payments Initiative.
BRICS leaders noted the work carried out to explore the interoperability of national payment and foreign exchange systems among member countries, as well as discussions on facilitating trade and investment settlements in national currencies.
At the same time, the declaration specifically emphasizes that the national priorities of participating countries will be respected and that there is no single solution that would suit all countries.
Following the discussions, BRICS called on the Payment Task Force to continue its work based on the progress already achieved and develop practical solutions for cross-border payments between member countries that meet the criteria of speed, low cost, accessibility, efficiency, transparency and security.
