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 parliament has approved several bills that authorize the Petroleum and Mineral Resources Ministry to enter into contracts with a number of foreign, including Russian companies to explore and develop its oil and gas fields. South Valley Egyptian Petroleum Holding Company and Lukoil Overseas Egypt secured approval for a concession to explore for and produce […]
The Russian Foreign Minister, Sergey Lavrov, has been visiting the Caribbean nation of the Dominican Republic in the first visit to the country by a Russian Minister. Lavrov has been in Santo Domingo, the capital, arriving from Brazil where he attended a BRICS foreign ministers meeting. He held meetings with his Dominican counterpart, Roberto Alvarez, […]
Russian Railways Logistics plans to launch permanent cargo delivery to China via Iran via the International North-South Transport Corridor (INSTC), according to Vera Vtorygina, director of the Russian Railways Logistics branch in Saratov. She was speaking at the “Transport Logistics of the Caspian Region 2025” forum in Astrakhan. In March, a test shipment of potash […]
The Russian Foreign Minister, Sergey Lavrov, has met with China’s Foreign Minister Wang Yi at the BRICS Foreign Minister’s meetings in Rio de Janeiro. This is what they had to say: Sergey Lavrov’s Statement “Dear friend, we meet regularly and frequently, which allows us to remain in good shape. You said that we are likely […]
Russia’s FESCO Transport Group has made its first direct ship call with its container ship to the port of Jakarta (Indonesia) as part of a linear service. The vessel delivered container equipment to Jakarta for further shipments from Indonesia and took on board loaded containers intended for delivery to Malaysia, Thailand and Russia. The container […]
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Russian Foreign Minister Sergey Lavrov has met with the Ethiopian Foreign Minister, Gedion Timotheos on the sidelines of the BRICS Foreign Ministers Council meeting in Rio de Janeiro. The ministers reaffirmed their mutual commitment to further expanding multifaceted bilateral cooperation in areas of shared interest. They also expressed support for deepening Russian-Ethiopian engagement within various […]
The 2025, Brazil-chaired meeting of BRICS Foreign Ministers has been taking place in Rio de Janeiro, with Russian Foreign Minister Sergey Lavrov attending. The ministers have been holding an in-depth exchange of views on a broad range of current international issues and collaboration. They also discussed further BRICS cooperation and preparations for the 17th […]
The Russian Foreign Minister, Sergey Lavrov has been discussing the enhancement of bilateral trade and economic relations, and the coordination of the BRICS framework, with his Thai counterpart, Maris Sangiampongsa. The Ministers met at the BRICS Foreign Ministers’ meeting in Rio de Janeiro. The Russian Foreign Ministry said that the two sides “aligned their positions […]
The countries of the Global South, which include 133 countries in Asia, Africa, Latin America and the Middle East, will trade more actively with China in the next decade, the Boston Consulting Group (BCG) has stated in their latest report. They note that trade turnover between China and the Global South will grow by 5.9% […]
Russia and Iran are continuing to work on joint projects to create new land corridors for Russian gas shipments to Iran, according to a joint statement issued by Russian Deputy Prime Minister Alexander Novak and Iranian Petroleum Minister Mohsen Paknejad. The two sides also discussed the implementation of other joint energy infrastructure projects. They also […]
The Russian Ministry of Foreign Affairs has hosted an informational meeting of the leadership of the Strategic Vision Group ‘Russia – Islamic World’ with the ambassadors of the member states of the Organisation of Islamic Cooperation (OIC). The meeting was co-hosted by Sergey Lavrov, Russia’s Foreign Minister, and Rustam Minnikhanov, of the Republic of Tatarstan, […]
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