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, the world’s second-largest gold producer, is to free itself from the current dependence of gold prices on the London Stock Exchange (LSE), and plans to launch gold trading on the St. Petersburg Exchange (SPIMEX) by the end of the year. One of the main objectives of the exchange when launching a new market is […]
Data from remote sensing satellites for monitoring farmlands will be available to Russia’s BRICS partners, as well as to the member states of the Eurasian Economic Union (EAEU) and the Shanghai Cooperation Organization (SCO), Russian Space Systems said on Thursday (July 10). They stated that “Data from the domestic orbital constellation of remote sensing satellites […]
Russian Foreign Minister Sergey Lavrov and the top diplomats of the Association of Southeast Asian Nations (ASEAN) member states have been meeting in the Malaysian capital, Kuala Lumpur. These are part of the annual Russia-ASEAN foreign ministers’ meetings. Lavrov will also be attending the East Asia Summit and the ASEAN Regional Forum for security. ASEAN […]
The Russian Foreign Minister, Sergey Lavrov has met with Foreign Minister Mexico, Juan Ramon de la Fuente Ramirez on the sidelines of the BRICS summit in Rio de Janeiro. Mexico is not a member or partner BRICS nation; however the country was invited as an observer. Lavrov and Fuentes discussed key issues related to Russian-Mexican […]
The Russian Foreign Minister Sergey Lavrov has met with Foreign Minister of Türkiye, Hakan Fidan on the sidelines of the BRICS Summit in Rio de Janeiro. The two ministers had an in-depth exchange of opinions on the current international situation, and discussed their key bilateral issues, including the implementation of strategic projects in the energy […]
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The Russian Foreign Minister, Sergey Lavrov has met with President of Bolivia, Luis Alberto Arce Catacora on the sidelines of the BRICS summit in Rio de Janeiro. They discussed topical issues of bilateral cooperation in various areas, including interaction in trade and the economy, prospects for the implementation of large investment projects, as well as […]
The Russian Foreign Minister, Sergey Lavrov, has met with the Director-General of the World Trade Organisation Ngozi Okonjo-Iweala on the sidelines of the BRICS summit in Rio de Janeiro. They both reaffirmed the need for prompt reform of the WTO based on inclusiveness, non-discrimination, transparency and mutual respect, and exchanged views on several aspects of […]
The Russian President, Vladimir Putin, gave a speech at the main Plenary session of the BRICS 2025 annual Heads of State summit currently being held in Rio de Janeiro. In it, he discussed the BRICS growth, economic data, global payment systems and several potential new initiatives including the creation of a BRICS carbon trade mechanism, […]
The Russian Foreign Minister, Sergey Lavrov, has been representing Russia at the BRICS 2025 Heads of State annual meetings in Rio de Janeiro. He spoke at a session themed “Strengthening the Multilateral World Order, Financial and Economic issues, & Artificial Intelligence.” Lavrov’s comments mainly focused on the current state of the global economy, the need […]
The BRICS group is to announce a new BRICS Multilateral Guarantee Fund, backed by its New Development Bank (NDB) to lower project financing costs and boost investment. The initiative, apparently modeled on the World Bank’s Multilateral Investment Guarantee Agency (MIGA), aims to address global investment shifts amid uncertainty surrounding U.S. economic policy, according to sources via Reuters. Brazilian officials […]
The BRICS countries are demonstrating a growing interest in Russian energy resources, including oil, liquefied natural gas, and coal, with demand for oil exceeding available volumes, most of which have already been contracted, according to Roman Marshavin, Russia’s Deputy Energy Minister. He stated that “BRICS partners are already openly declaring their interest in Russian energy […]
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