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.
Egypt’s Suez Canal Authority, the Egyptian state body responsible for operating the waterway, is seeking to sign a partnership deal with Russia. The two countries are already working together on a major industrial project in the Suez Canal Economic Zone in eastern Port Said. Osama Rabie, chairman and managing director of the Suez Canal Authority, […]
Russia’s JSC AminoSib, which specializes in advanced wheat processing, is to begin exporting wheat gluten to Brazil. It plans to export 300 tonnes to the country and has already shipped a 25-tonne test batch. The company stated “Latin America does not have its own plants for advanced wheat processing. A significant proportion of its imports […]
The Director of the Department of Economic Cooperation of the Russian Foreign Ministry, Dmitry Birichevskiy, has been speaking at the Valdai Club’s 3rd Russia-Africa conference and the South African Institute of International Affairs (SAIIA). South Africa is in a somewhat unique position as it has just taken over the Presidency of the G20, and from […]
Russia’s FESCO Transportation Group has launched a direct rail service, the “Vietnam Shuttle” from Vietnam to Moscow via China and Mongolia in partnership with logistics operator Ratraco (a subsidiary of Vietnam Railways), the company has said. The average transit time along the Vietnam Shuttle route is 35 days. Departures from Vietnam are carried out weekly. […]
Cuba has become a member of the BRICS New Development Bank (NDB) and is expected to obtain access to alternative financing, as the NDB offers credit without the strict conditions of institutions such as the IMF or the World Bank. Cuba has limited access to the dollar-dominated global financial system and is heavily sanctioned by […]
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Conflict has broken out between Thailand and Cambodia, regarding long-disputed land borders and certain temples. The problems began with a Thai soldier being wounded by a Cambodian land mine and have escalated. As of Friday, (July 25) an estimated 15 civilians have died with 138,000 Thai nationals being evacuated from the border region. Fighting has […]
The Russian Foreign Minister, Sergey Lavrov, met with the Indian Foreign Minister Subrahmanyam Jaishankar, on the sidelines of the Shanghai Cooperation Organisation Foreign Ministers’ meetings in Tianjin, China. The two foreign ministers engaged in a comprehensive discussion on pivotal bilateral and international issues, as well as the forthcoming schedule of diplomatic engagements. They reiterated their […]
Russia, the world’s second-largest gold producer, is to free itself from the current dependence of gold prices on the London Stock Exchange (LSE), and plans to launch gold trading on the St. Petersburg Exchange (SPIMEX) by the end of the year. One of the main objectives of the exchange when launching a new market is […]
Data from remote sensing satellites for monitoring farmlands will be available to Russia’s BRICS partners, as well as to the member states of the Eurasian Economic Union (EAEU) and the Shanghai Cooperation Organization (SCO), Russian Space Systems said on Thursday (July 10). They stated that “Data from the domestic orbital constellation of remote sensing satellites […]
Russian Foreign Minister Sergey Lavrov and the top diplomats of the Association of Southeast Asian Nations (ASEAN) member states have been meeting in the Malaysian capital, Kuala Lumpur. These are part of the annual Russia-ASEAN foreign ministers’ meetings. Lavrov will also be attending the East Asia Summit and the ASEAN Regional Forum for security. ASEAN […]
The Russian Foreign Minister, Sergey Lavrov has met with Foreign Minister Mexico, Juan Ramon de la Fuente Ramirez on the sidelines of the BRICS summit in Rio de Janeiro. Mexico is not a member or partner BRICS nation; however the country was invited as an observer. Lavrov and Fuentes discussed key issues related to Russian-Mexican […]
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