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BRICS Business Forum participants review their work

30 October 2020
Участники Делового форума БРИКС подвели итоги работы

On 20-28 October, the key annual event of the BRICS Business Council, the BRICS Business Forum, held under the motto BRICS Business Partnership: Common Vision for Sustainable Inclusive Development, was held via videoconference.

About 90 speakers, officials, businesspeople, representatives of financial institutions and public organisations from all BRICS member countries took part in the forum.

During the three days of nine panel sessions, the participants discussed the current areas of cooperation between the BRICS countries including industry, trade, digital technologies, agriculture, healthcare, energy, the environment and women’s entrepreneurship. According to the participants, these forum sessions were held at a high substantive level, which made it possible to exchange experience in overcoming the pandemic’s impact and to present initiatives and long-term cooperation plans in all areas.

The forum received greetings from Russian Foreign Minister Sergei Lavrov who wished them success and productive work in promoting ties between the BRICS countries.

The forum concluded with the plenary session on 28 October under the chairmanship of Sergei Katyrin, President of the Russian Chamber of Commerce and Industry and current Chair of the BRICS Business Council. Taking part in the meeting were chairs of the national chapters of the BRICS Business Council and the New Development Bank.

Video remarks were also sent by Russian Minister of Economic Development Maxim Reshetnikov, Russian Minister of Industry and Trade Denis Manturov as well as Sergei Ryabkov, Deputy Foreign Minister and Russia’s BRICS Sherpa.

Deputy Foreign Minister and Russia’s BRICS Sherpa, Sergei Ryabkov, noted that it was necessary to mitigate the growth of negative factors in international affairs, including in the economy.

“Disagreements are growing and the potential for conflict is building up as well as the gap between the rich and poor countries. This must be overcome, and BRICS countries’ role here is essential,” the deputy minister noted.  

Updating the BRICS Strategy for Economic Partnership 2025 is a priority item on the trade and economic agenda under Russia’s chairmanship in BRICS.

According to Minister of Economic Development Maxim Reshetnikov, the strategy’s main goal is to achieve sustainable socioeconomic development in the BRICS countries and create new opportunities for everyone: large and small businesses, investors, women, youth and the elderly, as well as for the sustainable development of the BRICS countries.

Russian Minister of Industry and Trade Denis Manturov spoke about several issues related to the development of industrial cooperation within BRICS.

“In addition to measures to stabilise the domestic situation, we are looking for new solutions and new points in industrial cooperation and the expansion of trade and economic relations with our partners,” the minister said in his video remarks.

Various issues of cooperation and experience in addressing certain problems were raised in the speeches of the heads of the BRICS Business Council national chapters: Jackson Schneider of Brazil, Onkar Kanwar of India, Xu Lirong of China and Busi Mabuza of South Africa, who also noted that it was necessary to develop women’s entrepreneurship within BRICS and the role of the Women’s Business Alliance.

President of the New Development Bank Marcos Troyjo talked about the basic areas the bank planned to focus on and noted that the New Development Bank would have to play a key role in restoring and developing the BRICS economies after the COVID-19 pandemic.

In reviewing the BRICS Business Forum, the participants stressed the importance of closer than ever cooperation and coordination between governments, businesses and civil societies in order to provide comprehensive and timely support for people and economies during the pandemic.

The Roscongress Foundationa socially oriented non-financial development institution and a major organiser of international conventions, congress, exhibitions, business, social and sporting, public, and cultural events, is in charge of organising events as part of the Russian Federation’s chairmanship in the BRICS association.

Official website of the Russian Federation’s chairmanship: