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.
Russian Foreign Minister Sergey Lavrov will visit Laos from July 25-27, where he will take part in meetings of top diplomats of the Association of Southeast Asian Nations (ASEAN) and hold a number of bilateral meetings. The meetings in the Laotian capital of Vientiane will be held at the foreign ministerial level in three formats: […]
In a world where de-dollarization has become the byword for independent sovereignty, there has been a lot of talk about BRICS currency, cross-border settlements in national currencies, and much speculative guesstimating. However, what is the root program that has been developed to enable cross-border settlements to handle transactions in different sovereign national Central Bank Digital […]
A Russian State Duma delegation led by its Chairman Vyacheslav Volodin has arrived in Algeria for a working visit, with Volodin having negotiations with Algerian National Assembly President Ibrahim Boughali. Algeria has recently expressed interest in joining the Shanghai Cooperation Organisation as well as the BRICS group. Algeria is the world’s fifth largest gas, and […]
Several countries want to upgrade their relations with the Shanghai Cooperation Organization (SCO), the group’s Secretary-General Zhang Ming has stated. The SCO is a multifunctional trade, security and geopolitical alliance formed in 2001 by China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan, primarily to deal with the repercussions of the United States and NATO invasion of […]
The Indian government is in discussions with Russia on easing non-tariff trade barriers, with the goal of boosting its exports to the country, Indian Commerce Secretary Sunil Barthwal has stated. The move comes after Russia-India trade has boomed in favour of Russian exports, but left Moscow with an over-abundance of Rupees in its capital account. […]
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The government authorities of Russia’s Primorye Krai region, which borders China and North Korea, aim to boost trade with China up to US$11 billion by the end of 2024. The statement comes as the region hosts a delegation for the facilitation of international trade from China’s northern Heilongjiang province, which shares a significant border with […]
Discussions concerning the development of a new, potential BRICS currency have been on-going for some time, yet have intensified in recent months due to several Heads of States meetings taking place that have actively discussed and committed research into the issue. A trend is emerging in the modern geopolitical landscape: large international associations such as […]
Representatives of the Eurasian Economic Union (EAEU) and the United Arab Emirates (UAE) expect to come to a substantive conclusion of negotiations on signing a Free Trade Agreement (FTA) by the autumn of 2024, the Eurasian Economic Commission (EEC) has said. This followed statements by Andrei Slepnev, the EEC Trade Minister and Thani bin Ahmed […]
The BRICS tenth parliamentary forum has been taking place in St. Petersburg, with major structural changes being discussed to manage the blocs development. Russia is the current chair of the forum, which was presided over by the Russian President, Vladimir Putin. He stated that “Thus far, BRICS does not have its own institutionalized parliamentary structure. […]
Russia’s Deputy Foreign Minister Mikhail Bogdanov has been holding talks with the Senegalese President, Bassirou Diomaye Faye in Dakar. The sides discussed joint projects in energy, mining and processing of minerals, the Russian Foreign Ministry has stated, adding “The issues of increasing trade and economic and investment partnership volumes, improving the contractual and legal framework, […]
The Russian President, Vladimir Putin and India Prime Minister Narendra Modi have agreed to boost their bilateral trade to US$100 billion by 2030. Putin has been meeting with Modi for bilateral talks in Moscow, during which they discussed a wide range of issues. The two sides agreed on a plan of strategic cooperation until 2030. […]
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