CRI听力:Russia Preparing for BRICS Summit

Contact Groups on economic and trade issues, Ministers of Youth Affairs meetings, finance ministers, trade ministers and central bank governors meetings, meetings of the board of governors of the BRICS New Development Bank, financial forums, business council meetings, the list goes on.

Moscow has been buzzing with such sessions in recent weeks as the BRICS governments prepare to gather in the central Russian city of Ufa on the 9th of July.

The BRICS economies have not escaped the global economic turmoil of recent years.

But as political analyst Dmitry Burikh says, they are keen to demonstrate that coordination from their banks, to their governments, is now closer that ever before.

"The BRICS business council demonstrates to us that the level of political cooperation that exists in the organisation, it's pretty high. And business cooperation is also gathering momentum."

China has ratified an agreement with the other BRICS members to create the New Development Bank, known as the BRICS bank.

Beijing is promoting that bank as an alternative to western institutions such as the World Bank. That's a message Moscow supports with its worsened relations with the West over the Ukraine crisis.

Russia sees BRICS not just as a convenient economic grouping, but a way to fundamentally change the global financial system, which it says is unfairly dominated by a Washington that wants the status quo to remain.

As Pavel Zakharov, from the Centre for Economic Research says, Moscow sees that Washington has failed on its promises of reform of the gobal finanical system.

"Obama's administration declared from their side that they would support reform. But in practice they've made very little effort to bring this reform through the US Congress."

Russia's economy has been weakened by its confrontation with the west, but it will be keen to show its guests and the world that what it says are the Wests attempts to isolate it have failed.

For CRI I'm Tom Barton in Moscow.