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 BRICS countries have agreed to include 13 countries in the category of “Partner States” in the association. However, the entry of these countries has not yet been made official, as the newly established protocol in the procedure requires the country holding the current Chairmanship of the organisation (in this case, Russia, from 2025, Brazil) […]
The UAE investment company Fundament Capital Investment Management has purchased 6.86% of the shares in the Moscow Stock Exchange (MOEX), acquiring them from the American State Street Bank and Trust Company. MOEX said that Fundament Capital received 156,177,798 shares on September 30. The main shareholders of Moscow Exchange are now the Bank of Russia (11.7%), […]
The 2024 BRICS summit has just finished, with the leaders of the attending countries issuing a ‘Kazan Declaration’. That document, which can be downloaded here contains clauses relating to global conflicts and can be taken to refer to Ukraine. It states: “We remain concerned about at the rise of violence and continuing armed conflicts in […]
The 2024 BRICS summit has concluded with a ‘Kazan Summit Declaration’, with 134 points covering 43 pages. The key topics include further development of the association, position on various global issues, sanctions, settlement of regional crises, including in Ukraine and the Middle East, in addition to a comprehensive reform of the United Nations (UN), including […]
Vladimir Putin has met with Recep Tayyip Erdogan, the President of Turkiye at the BRICS Summit in Kazan. This is what they had to say: Putin: “Once again, I would like to welcome everyone to Kazan and to repeat how much I appreciate it that you have accepted the invitation to attend the BRICS Plus/Outreach […]
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Vladimir Putin has met with Nicolas Maduro, the President of Venezuela at the BRICS Summit in Kazan. This is what they had to say: Putin: “I am delighted to see you in Russia again. I remember well our previous meeting in Moscow in 2019. I am glad that you were able to come to Kazan […]
Vladimir Putin has met with Masoud Pezeshkian, the President of Iran at the BRICS Summit in Kazan. This is what they had to say: Putin: “This visit to Russia is your first as President of the Islamic Republic of Iran, and this has great symbolic importance. Iran has become a full participant of BRICS, and […]
Vladimir Putin has met with Abdel Fattah el-Sisi, the President of Egypt at the BRICS Summit in Kazan. This is what they had to say: Putin: “Thank you for attending the BRICS forum. The fact that you are taking part in it having completed the formal accession procedure during Russia’s chairmanship of this group sends […]
Vladimir Putin has met with Xi Jinping, the Chinese President, at the BRICS Summit in Kazan. This is what they had to say: Putin: “Chinese comrades and friends, I extend a warm welcome to all of you here in Russia, particularly in the Republic of Tatarstan, in Kazan, the capital of the Republic. This region […]
Vladimir Putin has met with Narendra Modi, the Indian Prime Minister at the BRICS Summit in Kazan. This is what they had to say: Putin: “I am delighted to welcome you to Russia, this time to Kazan, a magnificent historical city on the Volga. I warmly remember your visit to Moscow and our fruitful talks […]
Vladimir Putin has met with Cyril Ramaphosa, the President of South Africa at the BRICS Summit in Kazan. This is what they had to say: Putin: “We are delighted to welcome you all to Kazan, Russia. We are grateful for your decision to take part in the BRICS Summit. This year, Russia assumed the BRICS […]
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