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.
Update: January 16Russia is willing to supply liquefied natural gas (LNG) and oil to Vietnam, as well as help develop its nuclear power sector as it seeks to expand energy cooperation, Russian Prime Minister Mikhail Mishustin has stated. Russia and Vietnam have also agreed to continue supporting oil and gas projects on each other’s continental […]
Uganda’s Foreign Minister, John Mulimba, has highlighted the transformative potential of BRICS membership as part of the countries development strategy. Uganda officially became a BRICS partner state on January 1. Speaking during an interview with China’s Xinhua News Agency, Mulimba stated during 2025, Uganda’s BRICS partnership would help unlock investment opportunities and deepen ties with […]
More than half of the countries across the world have declared a boycott of the US dollar, an analysis conducted by Russia’s Sputnik media has showed. In 2024, 14 more nations embarked on de-dollarisation, according to Sputnik’s analysis. 46 countries have switched to making transactions in national currencies, and 53 countries now openly oppose the […]
The Russian Embassy in Addis Ababa has announced that Russia has donated more than 1,600 tonnes of grain to Ethiopia as part of its ongoing food aid initiative. The donation aims to support refugees in Ethiopia’s Gambella region, where severe financial shortages have left many in need. The Embassy stated that funding shortages have severely […]
Copying someone is a form of flattery, however Chinese authorities are having to crack down on counterfeit Russian goods being sold in the country, a dubious form of cultural appreciation and one that somewhat inevitably goes with strengthening trade ties. The moves follow a rising number of complaints from consumers about the quality and authenticity […]
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Jim Rogers, the legendary American investor and hedge fund manager has predicted a Russian economic boom once the Ukraine conflict ends, allowing foreign investors to return to the market. In an interview he gave on January 8th, Rogers said the resolution of the conflict would stabilize the geopolitical situation and positively impact Russian bonds, the […]
Contracts from international financial organizations will appear on the Russian government procurement website. These include projects being tendered for by several international banks that Russia holds equity and invests in, including the New Development Bank (NDB – formally known as the BRICS Development Bank). The NDB plans to unfreeze investments in Russia — money that […]
A symbol, as well as being representative of Russia’s move to replace previously EU manufactured imported products with products of Russian origin is Russia’s viniculture sector. Wines from Italy, France and Spain have long been popular in Russia, with these three countries alone accounting for 80% of all EU wine exports. In addition, viniculture is […]
Indonesia has become a full member of the BRICS group, the its current rotating chair country, Brazil, announced on Monday (January 6). It brings the full member number of BRICS countries to ten, with the others being Brazil, Russia, India, China and South Africa, in addition to Egypt, Ethiopia, Iran, and the UAE. Several other […]
Iran’s imports of non-oil products from Russia have reached US$1.1 billion in the past 8 months, according to Foroud Asgari, Iran’s Minister of Customs. He said that Russia has now become the fifth largest source of Iranian imports. In early December, Russian President Vladimir Putin had highlighted the stability and reliability of trade and economic […]
2024 was marked by distinct changes in Russia’s foreign trade turnover, as sanctions and geopolitical instability forced the Russian economy to adapt to a new normal. Despite these challenges, exports grew by 0.5% to reach US$278 billion in value, while the focus of attention of Russian suppliers was Asia, Africa and the CIS countries. It […]
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