Quito, July 18 (PL-RHC) -- Ecuadorian Foreign Minister Ricardo Patiño has described as “historic” the meeting between BRICS countries (Brazil, Russia, India, China and South Africa) and the Union of South American nations (Unasur), official sources said.

According to a communiqué by the Foreign Affairs Ministry, the diplomat said that during the meeting, held yesterday, in Brasilia the delegates exchanged ideas on the future of the world and for that reason the meeting was historic and fundamental.

In that sense, he said BRICS nations, that together represent more than the 25 percent of the GDP, have a different vision of social development, cooperation and political and economic relations.

Patiño made reference to several topics discussed during the meeting such as the possible future relation between the BRICS Development bank and Banco del Sur (Bank of the South), an entity in process of creation.

The BRICS Development Bank has planned to finance its countries and also other developing nations, which is an excellent chance to work together, he added.

He also said those institutions are fundamental for releasing the region from dependency on the U.S. dollar as main currency for exchange.