BRICS News & Analysis

BRICS

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.

Featured July 21, 2024

More Countries Want To Join The Shanghai Cooperation Organisation As Full Members

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 […]

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Featured July 17, 2024

Indian Exporters Want Greater Market Access in Russia

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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July 17, 2024

Primorye Krai Targets US$11 Billion China Trade For 2024

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 […]

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July 15, 2024

The Evolution, Difficulties & Opportunities Of Creating A BRICS Currency

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 […]

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July 13, 2024

Eurasian Economic Union, United Arab Emirates Free Trade Agreement Expected In September

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 […]

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July 12, 2024

BRICS “B20” Proposed As A Global Parliamentary Bloc As New Members Clamour To Join 

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. […]

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July 12, 2024

Russia – Senegal Bilateral Trade & ECOWAS Developments

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, […]

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July 10, 2024

Russia, India Set Target To Boost Bilateral Trade To US$100 Billion

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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Putin and Modi
July 10, 2024

How India’s Vostro Bank Account Scheme Can Assist With Russia’s Rupee Trade Settlements Problem

Indian Prime Minister Narendra Modi has been in Moscow holding talks with Russian President Vladimir Putin, in discussions likely to have far-reaching, positive consequences for Russia-India bilateral trade as well as the BRICS group. There are however, technical problems to solve. A major stumbling block is that India buys far more from Russia than vice […]

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