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.
China and Russia have stated their aims to maintain “industrial supply chain stability” after Chinese foreign minister Wang Yi and his Russian counterpart Sergei Lavrov reinforced calls for their two countries to work more closely together against “hegemonism”, in a statement released by the Chinese foreign ministry. Russia has been intensely sanctioned by Western powers […]
Russia’s Pivot to Asia have published our first annual Russia’s Pivot to Asia Guide, in Russian. It is a 300-page full colour PDF with maps and graphics that details Russia’s 2024 trade and development with 80 countries, in addition to evaluating new supply chain routes such as the INSTC and the NSR, and Russia’s developments […]
Sergey Lavrov, Russia’s Foreign Minister, is meeting with Wang Yi, China’s Foreign Minister (and State Councillor) on Monday and Tuesday (April 8 & 9) in Beijing to discuss bilateral cooperation and plans for Vladimir Putin’s meetings with Xi Jinping next month. Talks between Lavrov and Chinese Foreign Minister Wang Yi, who extended the invitation to […]
India’s PSK Biotech Private Limited has signed an agreement to start manufacturing personal hygiene products, diapers, and medical supplies in the city of Yuzhno-Sakhalinsk, in Russia’s Far East Sakhalin region. Production is planned to launch in November this year. The initiative would also significantly reduce the Sakhalin region’s reliance on imported technology and shorten the […]
Serbian President Aleksandar Vucic has said he may attend the 2024 BRICS summit planned to be held in Kazan in October. As chair of BRICS for 2024, Russia is hosting the group’s annual summit, with the event comprising over 200 political, economic, and public forums. The exact dates of the summit have yet to be […]
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Western sanctions on Russian diamonds are proving good business for Mumbai and Dubai, where European traders and cutters are now relocating too, after Brussels decided to impose sanctions on Russian sourced gems. Russia is the world’s largest supplier of raw diamonds, mostly sourced from Siberia’s Yakutia region. Neither India nor Dubai have followed the sanctions […]
In a nod to the BRICS grouping’s ability to increase trade and alternative supply chains, Russia exported 900,000 tonnes of wheat to Brazil in 2023, rising from fourth place to second place among Brazil’s leading suppliers, according to Russia’s Agriculture Ministry Agroexport center. Argentina is traditionally Brazil’s largest supplier of wheat, with a market share […]
An Atlantic Council study published on Thursday showed that 134 countries, or 98% of the global Gross Domestic Product (GDP), are currently exploring the launch of a central bank digital currency (CBDC). This number has surged from just 35 since May 2020. The development is significant as it seems to predict an almost universal move […]
The influential World Geostrategic Insights (WGI) forum has provided an interview with US-Russia expert Paul Goncharoff concerning Russia taking the Chairmanship for the BRICS group for 2024. The WGI also namechecked our own new Russia’s Pivot To Asia guide, which contains extensive chapters and details of the prospects for BRICS 2024. It can be downloaded […]
Russian President Vladimir Putin will travel to China in May for talks with Xi Jinping, in what would be the Kremlin chief’s first overseas trip of his new presidential term. Kremlin spokesman Dmitry Peskov stated that “Several presidential visits and several high-level contacts are being prepared at the moment. We will inform you as we […]
The first export train of 30 wagons loaded with oats departed for India from Formachevo station in Chelyabinsk, in the Urals region of Russia, Acting Head of Chelyabinsk Customs Andrey Gursky, has said. The train departed on March 18. The 830-tonne cargo was packed using the infrastructure of the Yuzhnouralsky transport and logistics complex. Since […]
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