Intra-BRICS trade is booming, driven by the expanded BRICS+ bloc (now including energy-rich nations like Iran, UAE, Saudi Arabia) and a strong push for de-dollarization, boosting local currency settlements and new payment systems like CIPS. Key themes include diversifying supply chains, enhancing South-South cooperation, developing local payment systems (NDB, CIPS), and fostering tech/industrial integration to reduce reliance on Western markets, with total intra-bloc trade already exceeding US$1 trillion and growing significantly. Navigate the BRICS business framework. Find news on economic cooperation, the New Development Bank, and joint investment projects. Essential for businesses leveraging the powerful BRICS economic bloc.
A top executive at Russia’s largest bank has said he sees a growing role for the Indian rupee in the country. Aleksandr Vedyakhin, the first deputy chairman of the board of Sber, has stated that the Indian currency is popular with the bank’s individual and business clients. He said, “In Russia, Sber allows you to make transactions in rupees, […]
Iran’s Minister of Roads and Urban Development Farzaneh Sadeghi and Russia’s Minister of Transport Roman Starovoit signed an agreement on the development of transport and transit cooperation for 2025. The core element of the agreement, signed in Tehran on February 18, is the completion of the long-delayed Rasht-Astara railway in Iran with Russia’s assistance, according to Iran’s […]
The board of governors of the BRICS New Development Bank (NDB) has given its consent in principle for Uzbekistan to join the bank, according to Uzbekistan’s presidential press service. Uzbek President Shavkat Mirziyoyev and BRICS New Development Bank Governor Dilma Rousseff have discussed developing collaboration and the prospects for Uzbekistan to join the NDB. Uzbekistan’s […]
Russia’s FESCO Transport Group has increased the container capacity of the line between India, the UAE and its Novorossiysk Port by 45%, by adding a third container ship to the FESCO Indian Line West (FIL-W) line connecting the ports of India and the UAE with Novorossiysk. German Maslov, Vice President, Line Logistics Division, FESCO, stated […]
Over the past six years, the trade turnover between Russia and the United Arab Emirates (UAE) has grown 2.7 times, from US$3.5 billion in 2019 to US$9.5 billion by the end of 2024, according to Abdullah Ahmed Al Saleh, the Deputy Economic Minister of the UAE. Meanwhile, shipments of goods from the UAE to Russia […]
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Russia’s FESCO Transport Group has been making shipments of equipment in specialized Flat Rack containers to the Kaliningrad region from the Indian port of Mundra, Mumbai. The oversized cargo is intended for the construction of a new food production plant in Kaliningrad. Three shipments have already been delivered, with a total volume of 64 TEU. […]
The Russian Foreign Minister, Sergey Lavrov has met with Celso Luiz Nunes Amorim, the Special Advisor to the President of Brazil for Foreign Policy, in Moscow. Lavrov and Amorim exchanged views on the current international situation and global problems. They also emphasised the mutual intention to further deepen coordination of Moscow’s and Brasilia’s efforts in […]
Russia’s Aqua Holding LLC (producer of mineral waters Essentuki No. 4, Essentuki No. 17 and Narzan) is to start producing water for consumers in India by the end of this year, according to the company CEO, Svyatoslav Vilk. Vilk stated that “We recently completed all our certification work in India, so we will launch a […]
Russia’s Rosatom state nuclear power corporation has proposed projects to Brazil involving both small nuclear power plants (SNPP) and high-capacity power units, according to Rosatom Latin America Director Ivan Dybov. He commented at the Nuclear Trade & Technology Exchange conference in Brazil. Dybov said that “Emphasizing the importance of nuclear projects for addressing climate challenges […]
The current expansion of the BRICS New Development Bank (NDB) is taking place in accordance with the implementation of the NDB strategy for 2022-2026, according to the bank’s head, Dilma Rousseff. In addition to the founding members – Brazil, Russia, India, China and South Africa – several new members have joined, including Bangladesh and the […]
Colombia intends to join the BRICS New Development Bank (NDB) in 2025, according to Hector Arenas Neira, Colombia’s Ambassador to Russia. Neira said that the decision on this issue was made after talks with NDB head Dilma Rousseff, saying that “the decision has been made. Our president met with the president of the BRICS bank, […]
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