The BRICS 5 nations have consistently outpaced global average economic growth rates over the last three decades

Over the past 17 years (in 2005–2022, as included in the analysis), the significance of BRICS countries increased considerably in terms of their share in global production and trade.

According to the International Monetary Fund (IMF), the share of BRICS nations in the world’s GDP, measured by purchasing power parity (PPP), rose from 20.8% in 2005 (for four founders – Brazil, India, China, and Russia) to 32.2% in 2023 (for BRICS 5 countries: Brazil, India, China, Russia, and South Africa). This growth signifies a 1.54-fold increase in BRICS' share of global GDP between 2005 and 2023.

However, this progress is accompanied by imbalances in #BRICS nations' contributions to global GDP, imports, exports, and foreign direct investment (FDI) flows. More in the exclusive report "BRICS Cooperation Progress According to BTTC Indicator System" prepared by the BRICS Expert Council—Russia’s experts and published on the official website.

#ANALYTICS #BRICSExpertCouncilRussia #BRICSExpertCouncil #BRICSExpertReport #IMF #investment #finance #economics

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China advocates for multilateralism through BRICS cooperation

China calls for embracing multilateralism through concrete actions among BRICS nations amidst the rise of unilateralism and trade protectionism worldwide. The remarks were made by Wang Shouwen, China International Trade Representative and Vice Minister of Commerce, during his attendance of Progress meeting for China center for cooperation on development of special economic zones in BRICS countries.

Wang highlighted that during the BRICS leaders' meeting at Kazan Summit in October 2024, the Chinese leader announced the establishment of a China center for cooperation on the development of special economic zones in BRICS countries. The launch of this center in Hangzhou represents a significant step in converting that consensus into action, according to Wang.

In today's era of increasing unilateralism and trade protectionism, enhancing practical cooperation in special economic zones among #BRICS nations, promoting high-level openness, and facilitating trade and investment are crucial for supporting multilateralism through tangible actions, the vice commerce minister emphasised.

Wang stated that China is eager to collaborate with BRICS members and partner nations to leverage the center's establishment as a chance to develop more successful cooperation models.

During his speech at Friday's meeting, Wang expressed the hope that the center would become a hub for international exchange, develop initiatives such as "Digital BRICS" and "Green BRICS," and foster practical cooperation among BRICS countries.

#NEWS #China #Summit #economics

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⚡️A great opportunity to dive into the BRICS world and influence future energy policy

🏳️ The VII BRICS Youth Energy Summit will take place in Brazil from June 9 to 10

🔋 The summit will gather creative and determined young activists from all BRICS countries — young leaders and professionals in energy sector

💡 You can meet affluent energy policy makers and experts, participate in thematic sessions, and take a guided tour of an energy company

📊 The agenda of the summit will focus on four areas:
1️⃣ Sustainable fuels for energy transitions
2️⃣ Financing energy transitions and minerals for clean energy transition
3️⃣ Access to energy in addressing energy poverty through accessible solutions
4️⃣ Technological advancements for low-carbon energy systems

🔼The summit is organised by
1️⃣ the Brazilian Ministry of Mines and Energy
2️⃣ the Brazilian National Youth Secretariat

*️⃣Supported by the BRICS Youth Energy Agency

🗓 Registration is open until April 15! You can apply on the website 👈

💡 Prepare your ideas, get inspired, and get ready to represent your country at the summit. Let's create future together! ✨

🌍 Follow Rosmolodezh.+World

Russia's ambitious goal to boost foreign tourism by 2030

Deputy Minister of Economic Development Dmitry Vakhrukov emphasised Russia's goal to increase foreign tourist numbers to 16 million, nearly increasing current figures fourfold, by 2030. This information is reported by the official website of the Russian Ministry of Economic Development.

"In general, we are moving towards achieving this goal: last year the number of foreign guests increased by more than a third. The measures that have been launched over the past two years are paying off," he said.

The rise in tourist numbers last year was attributed to the introduction of electronic visas, the reinstatement of visa-free travel with China and Iran, and the comprehensive promotion of domestic tourist offerings.

Deputy Director General of the Centre for Strategic Research (CSR) Yulia Maksutova highlighted the success of projects implemented with various regions in 2023. These efforts led to a 4-10 times increase in tourist traffic from #BRICS countries such as Iran, China, the UAE, Saudi Arabia, and India. In 2025, the list of target markets will be expanded to include Turkey, Vietnam, Thailand, Indonesia, Malaysia, Belarus, Kazakhstan, Uzbekistan, and Azerbaijan.

#NEWS #tourism

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Jaishankar supports BRICS' role in global discussions

Minister of External Affairs of India S. Jaishankar has expressed support for BRICS, emphasising that the bloc addresses the shared concerns of its member nations and aims to ensure that global dialogues and leadership are more representative and inclusive.

“BRICS is a platform that has grown in membership and agenda over the last two decades. It is our endeavour to enhance understanding of #BRICS activities among the international community,” Jaishankar stated.

#NEWS #India

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Brazilian president to visit Russia in May

Brazilian President Luiz Inacio Lula da Silva will visit Russia in May. This announcement was made by Celso Amorim, the special adviser on international affairs to the Brazilian President.

The visit by Lula da Silva is anticipated to bolster the strategic partnership between Russia and Brazil, providing an opportunity to address significant issues on the international agenda.

Since taking the helm of the #BRICS chairship on January 1st, Brazil has aimed to concentrate on topics such as climate change, sustainable development, and the regulation of artificial intelligence. The highlight of this period, the BRICS summit, is expected for July 2025 in Rio de Janeiro.

#NEWS #Brazil #RussiaBrazil

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Perspective format of BRICS countries' interaction in the fields of trade and investments

The report "BRICS Cooperation Progress According to BTTC Indicator System" suggests that it seems premature, and perhaps even impossible, to put the issue of creating a free trade zone within #BRICS on the agenda. The same holds true for free trade agreements (FTAs) between the customs unions, where Russia, Brazil, and South Africa are members.

The most viable approach appears to be the format of bilateral agreements on trade and investments. This approach is more acceptable as it allows to factor in the varying interests and priorities of the BRICS countries. It is a flexible, yet highly effective tool for mutual trade liberalisation, especially given the "interlacing" of these agreements (often referred to as the "spaghetti bowl").

For more insights on trade within BRICS, explore the exclusive report "BRICS Cooperation Progress According to BTTC Indicator System" prepared by the BRICS Expert Council—Russia’s experts and published on the official website.

#ANALYTICS #BRICSExpertCouncilRussia #BRICSExpertCouncil #BRICSExpertReport #investment #finance #economics

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Dear subscribers,

Our channel turned 🕊 year old as we mentioned above, so we prepared an updated profile picture for you! Don't lose us, please 🤍

Your BRICS Expert Council—Russia team

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China unveils new centre to strengthen BRICS cooperation

The China centre for cooperation on special economic zones in BRICS countries was officially inaugurated on Friday in Hangzhou, the capital of Zhejiang province in China.

This Centre is the first platform mechanism personally announced by Chinese President Xi Jinping at the XVI BRICS summit in Kazan last October.

The Centre will help strengthen cooperation between the special economic zones of the #BRICS member countries, align standards and introduce institutional innovations. In the long term, it can become an important platform for expanding economic cooperation between China and other BRICS countries.

#NEWS #China #Summit #trade

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Silveira emphasises BRICS energy transition and cooperation

The Brazilian Minister of Mines and Energy, Alexandre Silveira, underscored the need for balancing energy security with sustainable development during the 2nd BRICS Energy Meeting, hosted under Brazil's chairship in Brasília on March 20.

Silveira highlighted Brazil's commitment to a fair and inclusive energy transition, aiming to tackle energy poverty by broadening access to energy services. The chairship also seeks to advance a leadership climate agenda, focusing on climate finance declarations.

"The bloc’s expansion highlights our relevance and calls on us to strengthen the Global South. It requires improving energy cooperation governance to make it more inclusive and sustainable. We need to coordinate our actions and ensure that the integration of new members strengthens our capabilities and expands our opportunities," Silveira stated.

He stressed the importance of sharing best practices and developing joint projects to solidify BRICS' role in global governance. Financing the energy transition and advancing discussions on strategic topics are seen as central challenges.

"Resources will be needed to enable investments in infrastructure, renewable energies, and mineral research to supply the essential chains for the transition. Without adequate financing, the transformation of our energy systems will be slower and more unequal. Together, we can find the best solutions to the challenge of ensuring greater stability and energy security," he said.

Silveira concluded by highlighting BRICS' potential to lead in sustainable fuels development, emphasising the need to accelerate decarbonisation in sectors like transportation and industry, as millions in #BRICS countries still lack adequate energy access.

#NEWS #Brazil #security #sustainability

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Indonesia to join NDB

Indonesia will join New Development Bank. President Prabowo Subianto announced this following a meeting with NDB President Dilma Rousseff at the Presidential Palace.

"The Indonesian government has decided to join the New Development Bank and follow the procedures and requirements that have been given to us," stated Prabowo. He hoped that Indonesia's membership in the NDB could encourage the acceleration of national development transformation.

Rousseff welcomed Indonesia's decision, describing the country as an important partner in the region and beyond. She noted that Indonesia's development priorities align with the NDB's focus areas, particularly in infrastructure, connectivity, and energy transition.

The NDB is a multilateral development bank established in 2014 by the #BRICS countries. The bank is headquartered in Shanghai with regional centres in Africa. The bank has an initial capital of $100 billion, funded by the founding countries.

#NEWS #Indonesia #NDB

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