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.
The Russia-China relationship has been the focus of ongoing conjecture in the West, much of it referring to how Beijing will eventually outmanoeuvre Moscow and subsume Russia either via land grabs or financial coercion. Sergey Lavrov, Russia’s Foreign Minister, has weighed in on the debate by stating, somewhat enigmatically, that “Our friendly and good-neighbourly relations […]
Russia has stated that countries that maintain friendly relations with Moscow are interested in using Russia’s low-orbit satellite constellation to have Internet access as an alternative to Elon Musk’s Starlink network, according to Russia’s Digital Development Minister, Maksut Shadayev. Russia’s OJSC Bureau 1440 is currently building a low-orbit satellite constellation, involving 292 spacecraft to provide […]
It’s interesting – even laughable – to note how the Western media describe problems in the West as ‘Global’ issues, whereas in fact they are often referring to matters related solely to the United States and Europe. It begs the question of how realistic their knowledge of how the global trade and geopolitical system now […]
The United Arab Emirates (UAE) and the members of the Eurasian Economic Union (EAEU) may conclude negotiations on setting a free trade zone by the BRICS summit set for October 22-24 in Kazan, according to Andrei Slepnyov, the Eurasian Economic Commission Trade Minister. He has stated that “With the UAE, we are at the finalization […]
The Belarusian Foreign Minister, Maksim Ryzhenkov has said that the BRICS group could add at least ten new members at the forthcoming annual meeting later this month. Belarus is hoping to be among them, while Ryzhenkov stated that “The first wave of enlargement, as we all expect – those who have submitted such applications […]
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Russia’s Deputy Energy Minister Sergei Mochalnikov and Yemen’s Oil and Minerals Minister Saeed al-Shamasi, co-chairmen of the Russian-Yemeni intergovernmental commission, have been discussed the trade and economic cooperation between the two countries on fuel and energy on the sidelines of the Russian Energy Week. The two sides discussed interaction in industry, agriculture, and modernization of […]
The Russian President Vladimir Putin has been speaking at the Russian Energy Week forum in Moscow, and stated as part of his speech that the BRICS member nations are jointly developing a payment and settlement framework to be used for trading within the group. Putin stressed that supplies of Russian oil and gas to ‘friendly’ […]
The Prime Minister of Burkina Faso, Apollinaire Joachim Kyelem de Tambela has expressed an interest in joining BRICS. In a meeting with Russian Ambassador Igor Martynov in Ouagadougou on Monday (September 24), he said that “Membership of the BRICS group would make it possible to challenge the domination of the dollar and the euro, and […]
The Moscow Stock Exchange (MOEX) has begun trading in cocoa futures contracts, with trading and settlements conducted in Russian Rubles. The cocoa trade desk began operating yesterday (September 24) and reflects an international demand for the product, reflecting the dynamics of the price of cocoa beans supplied from countries in Africa, Asia, and Central and […]
Russia’s Deputy Minister of Trade and Industry, Aleksei Gruzdev, has been visiting Islamabad and holding meetings with his counterpart, Rana Tanveer Hussain, Pakistan’s Minister for Industries, Production, and National Food Security. The two officials discussed enhancing bilateral trade, with a focus on improving agricultural outputs. As a result, Russia has agreed to supply the latest […]
The Russian Foreign Minister, Sergey Lavrov, and Trade and Industry Minister Anton Alikhanov met with Egypt’s Egyptian Foreign Minister Badr Abdelatty in Moscow on Monday. The meetings were to discuss the situation in Palestine, as well as trade updates and other bilateral relations. Egypt is also a member of BRICS, with the 2024 annual heads […]
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