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.
Russia and Indonesia grew their trade turnover of agricultural products to nearly US$1.5 billion in 2024, up 41.4% compared to the previous year, according to Russia’s Agroexport centre. This included approximately 1.4 million tonnes of agricultural goods. The main commodity items in the value structure of Indonesian imports from Russia in 2024 were wheat (92.3%), […]
Southern Africa is a diverse region, with considerable European colonial influences, and access to both the Atlantic and Indian Oceans. A major driver for Russian involvement in Africa has been continuing assistance from and good relations with South Africa, the continents wealthiest nation and regionally, its most influential. This region will develop to become more […]
The Fruit Association Gardens of Stavropol LLC, one of the largest fruit nurseries in Russia, has exported its first batch of apple saplings to India, according to Vladimir Vladimirov, the head of Stavropol Territory. He said that “The varieties were chosen together with Indian specialists – those that best suit India’s soils and climate. The […]
Russia’s Zarubezhneft, a state-owned oil company specializing in exploration, development and operation of oil and gas fields outside Russia, has transitioned from pilot production to the exploitation phase of its Boca de Jaruco project in Cuba. The Boca de Jaruco field produces extra-viscous, extra-heavy oil (natural bitumen) from carbonate deposits using thermal steam methods. Zarubezhneft […]
The Zimbabwe Foreign Minister, Amon Murwira, has been visiting Moscow and has held meetings with Sergey Lavrov, the Russian Foreign Minister. Muwira stated that Zimbabwe is keen to join the BRICS group and join the BRICS New Development Bank as a partner state. In addition, he stated that his country was willing to further develop […]
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The long-delayed proposals to establish a Russian Industrial Zone at Port Said near the Suez Canal in Egypt appear to be coming to a conclusion with a planned meeting of the two countries’ intergovernmental commission in May, according to Russian State Secretary and Deputy Industry and Trade Minister Roman Chekushov. An agreement to proceed with […]
Russia’s leading cosmonaut, Oleg Artemyev, has been visiting India attending the NXT Conclave and has met with Prime Minister Narendra Modi to discuss space collaboration. Artemyev said that “India and Russia have been cooperating in space for six decades, and this collaboration will expand on a wide front to include lunar projects, Mars exploration, and […]
Brazilian President Luiz Inacio Lula da Silva has said that the BRICS nations remain committed to developing new “transparent and secure” payment platforms to boost their economic integration and reduce “vulnerabilities” in the global market. He was speaking at a meeting of the BRICS Ambassadors (also known as “Sherpas”) on Thursday, (February 27) as the […]
Russia’s nuclear energy state corporation, Rosatom, has won a Brazilian tender to provide conversion and enrichment services for domestically produced uranium, according to the companies press service, which stated the contract signed by Rosatom with the Brazilian state company Industrias Nucleares do Brasil (INB) is “worth around US$40 million.” It is expected that Brazilian uranium […]
The Russian Foreign Minister, Sergey Lavrov has been in Tehran holding talks with his Iranian counterpart, Abbas Araghchi, as well as with the Iranian President, Masoud Pezeshkian. Much of these discussions revolve around resolving bottlenecks at the Rasht-Astara railway route, which is part of the INSTC network between Russia and the Middle East. Construction work […]
The Russian Foreign Minister, Sergey Lavrov was in South Africa last week attending the G20 Foreign Ministers meetings. During that event, he met with Ronald Lamola, the South African Foreign Minister. The two underscored the need for closer foreign policy coordination at the United Nations as well as the G20 and BRICS, highlighting the significance […]
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