The BRICS Business Forum has started in Moscow. On 17 October, the first day of the Forum, the BRICS Business Council held its annual meeting.

The working groups held discussions in nine areas, including financial services, digital economy, trade and investment, agriculture and others. This was followed by the Annual Meeting with the participation of the National Part Chairpersons. Sergey Katyrin, Chairman of the Russian part of the BRICS Business Council, President of the Chamber of Commerce and Industry of the Russian Federation (CCI), spoke about the results of work for 2024. According to him, the priority areas on the agenda were improving transport and logistics connectivity of the BRICS countries, enhancing communications and creating a sustainable system of financial settlements. Special attention was paid to the issues of creating a unified digital infrastructure of BRICS, as well as cooperation in the field of artificial intelligence.

“We see the desire on the part of all our partners to work together to build business contacts within the BRICS framework. Today we have about 40 recommendations in our portfolio on all areas of the Business Council’s work”

Sergey Katyrin
President of the Chamber of Commerce and Industry of the Russian Federation

In addition, he emphasised that one of the main tasks of the Council this year, the integration of new members of the group, had been successfully completed. He added that next year representatives of the business community of the new BRICS countries will be able to fully immerse themselves in the business agenda.

The meeting was also attended by delegates from Brazil, India, China, South Africa, Egypt, Iran, UAE and Ethiopia. Bruno Ferla, a representative of the Brazilian Business Council Chairman, said that the republic would be pleased to host the next meeting. In 2025, the BRICS chairmanship will pass to Brazil.

“Our team is now determining topics that will be relevant for the entire extended BRICS+ group,” he said, noting that the association’s states have the necessary intellectual potential to develop their national economies.

In his turn, Naveen Kapoor, Chairman of the Indian Chapter, expressed confidence that with the accession of new participants to the association, the spheres of cooperation will also expand.

Following the results of the work, the heads of the national parts of the Business Council approved the annual report. It includes proposals and initiatives of the working groups. This document will be presented to the BRICS leaders at the summit in Kazan.

The BRICS Business Forum is included in the calendar of the Russian Federation’s presidency in the association and is aimed at expanding cooperation between representatives of the business community of the association’s states. This year’s panel discussions will focus on financial and investment cooperation, international trade, agribusiness development and strengthening food security, as well as sustainable energy transition and the role of technological cooperation in the implementation of ESG strategies.

The key event of Russia’s BRICS chairmanship will be the summit in Kazan on 22-24 October, which will be attended by representatives of more than 30 countries from Asia, Africa, the Middle East and Latin America.

Photo: TV BRICS