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.
Despite general Western negativity concerning China, its industrial activity picked up at the start of the year, according to data from the National Bureau of Statistics. The news is relevant to Russia’s Pivot to Asia as it suggests that inexpensive Russia energy is helping create a boost to China’s manufacturing sector output. China’s industrial production […]
India is apparently ready to start negotiations on a free trade agreement with the Eurasian Economic Union (EAEU), according to Belarusian Foreign Minister Sergei Aleinik, who visited New Delhi from March 12–13. Belarus is a member of the EAEU along with Russia and Armenia, Kazakhstan, and Kyrgyzstan. The bloc fills the geographic space between Eastern […]
The Red Sea crisis has shifted attention for Russia, India, and South Asia to the potential of the Eastern Maritime Corridor (EMC) – a proposed trade route for shipping coking coal, crude oil, LNG, fertilizers, and goods containers. This new trade route could revolutionize Russian-Asian trade. India’s oil imports reached unprecedented levels in January 2024, […]
Russia’s Minister of Culture, Olga Lyubimova has stated (March 13) that numerous Asian countries are interested in developing cinematography together with Russia and conducting joint film production, and that this will be fully supported by the government. Lyubimova said in an interview with the Rossiya-24 that “We have joint production, and have formalized the possibility […]
The Financial Times has reported that China’s foreign trade grew faster than expected in the first two months of 2024, driven partly by electronics and increased exports to emerging markets and Russia, with Beijing’s foreign minister touting “a new paradigm” in relations with Moscow. China’s total exports rose by 7.1% in January and February compared […]
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Private investor activity on the Moscow Exchange (MOEX), Russia’s largest stock market, reached an all-time high in February 2024, according to the exchange. A total of 4.1 million individuals conducted transactions on the exchange last month. During this period, they invested 74.2 billion rubles (US$820 million), an 11% increase year-on-year. The vast majority of investments […]
Russia has approved a list of states whose bankers and brokers can now take part in currency trading in Russia. This list of “friendly and neutral” countries allowed to trade on the country’s currency exchange market, was released in early February this year and is exclusive to countries who have not signed up to Western […]
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