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.
Russia is interested in setting up production of sunflower oil in Egypt, with the issue raised during a Russian delegation’s visit to Cairo, according to Russian Deputy Prime Minister Alexei Overchuk, who led the delegation. He said that “We have very active cooperation in agriculture with Egypt, which buys ours, and we’re discussing setting up […]
The Russian Deputy Prime Minister Alexei Overchuk, who is about to visit Cairo, is to follow up on issues relating to the development of the much-delayed Russian Manufacturing & Development Zone based at Port Said near the Suez Canal. The intergovernmental agreement on the creation of the Russian Industrial Zone within the Suez Canal Economic […]
The International BRICS Competition Law and Policy Centre at Russia’s Higher School of Education (HSE University) has stated that the global grain market is dominated by the largest agribusiness traders, making it economically vulnerable. BRICS countries may want to establish a grain exchange in response, with antitrust regulators invited to participate in its creation. The […]
The BRICS nations convened an emergency virtual summit yesterday (September 8), hosted by Brazilian President Lula da Silva, to discuss the situation concerning the United States imposition of trade tariffs on multiple countries including BRICS members. The meeting lasted about 90 minutes. All ten full BRICS members were present, represented by Brazilian President Lula Da […]
Plucky little Laos, in southeast Asia, has just become the latest country to ignore US import tariffs, by stating that it will redirect its US exports to other markets. Laos has been hit with a 40% import duty on its products. What is surprising about this move is that Laos is a relatively small country, […]
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Laos could reroute its coffee sales from the US to Russia due to the 40% tariffs imposed by US President Donald Trump, Laotian Prime Minister Sonexay Siphandone has stated. Trump imposed levies on goods from Laos last month as part of a broader flurry of country-specific tariffs aimed at addressing what he called unfair trade […]
The Russian President, Vladimir Putin, has been attending the celebrations for the end of World War II in Beijing and has had the opportunity to discuss bilateral relations with other attendees, including with the Vietnamese President, Luong Cuong. This is what they had to say: Vladimir Putin: “Mr President, friends, I am delighted to hold […]
During the 2025 SCO Heads of State summit in Tianjin, the hosting Chinese President, Xi Jinping, introduced a concept called the “Global Governance Initiative” (GGI) which lays out a platform for the development of a ‘new world order’. Xi stated that “Global governance has reached a new crossroads. We must continue to take a clear […]
Russia’s exports of natural gas to China rose by 28.3% year-on-year in the first eight months of 2025, according to Gazprom CEO Aleksey Miller. Speaking at a meeting with the heads of subsidiary companies and organizations, Miller added that Gazprom continues to supply gas steadily and reliably to both domestic consumers and international partners. Russia […]
India is set to increase its imports of Russian oil in September, with trading sources saying that Nayara Energy and Reliance Industries plan to increase their purchases by 10-20% compared to August levels. The increase would translate to an additional 150,000-300,000 barrels per day. The move comes despite US President Donald Trump imposing additional tariffs […]
Unlike China and India, Brazil does not import crude oil directly from Russia. However, it ranks as the third-largest buyer of Russian refined petroleum products globally—behind Turkiye (26%) and China (13%)—accounting for 12% of such imports. Those imports have also been increasing. According to data from the Helsinki-based Centre for Research on Energy and Clean […]
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