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๐ป๐ช๐ Venezuela intends to build a multipolar world together with BRICS, President Maduro says
๐ฌ "Another [upcoming] transformation is geopolitics. [It is necessary] to give impetus to the onset of a new multipolar world and the inclusion of Venezuela in the vanguard of a new policy of peace, cooperation and development. Together with BRICS. Venezuela is already with BRICS, with the world that will advance a new history," President Nicolas Maduro said, speaking to parliament.
Maduro took office as president of Venezuela for 2025-2031 on Friday.
๐ฃ "I have never been nor will I ever be the president of the oligarchies, of the surnames, of the supremacisms, or of the imperialisms. I have only one owner, one boss, and I obey only one order. My heart is devoted to one force, and that force is the historical force of the common people," he said after taking the oath.
Moreover, Russian State Duma Speaker Vyacheslav Volodin and Maduro met in Caracas after the inauguration. He conveyed congratulations to Maduro from Russian President Vladimir Putin.
Volodin, as part of his visit to Venezuela, also held meetings with lawmakers from a number of countries who attended the inauguration of Maduro.
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Maduro took office as president of Venezuela for 2025-2031 on Friday.
๐ฃ "I have never been nor will I ever be the president of the oligarchies, of the surnames, of the supremacisms, or of the imperialisms. I have only one owner, one boss, and I obey only one order. My heart is devoted to one force, and that force is the historical force of the common people," he said after taking the oath.
Moreover, Russian State Duma Speaker Vyacheslav Volodin and Maduro met in Caracas after the inauguration. He conveyed congratulations to Maduro from Russian President Vladimir Putin.
Volodin, as part of his visit to Venezuela, also held meetings with lawmakers from a number of countries who attended the inauguration of Maduro.
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๐ท๐บ The Russian Ministry of Economic Development is preparing amendments which would make it possible to place on the government procurement website contracts from international financial organisations, primarily the New BRICS Development Bank (NDB). In the future, the list may be supplemented with projects from the Eurasian Development Bank and the Asian Infrastructure Investment Bank.
Apparently, the projects will be related to infrastructure development, construction of energy facilities and water supply systems.
The new development bank has already allocated $336 million for Russian projects since 2017. It is planned to attract another $1.2bn by 2027. The appearance of such contracts on the Russian public procurement platform may increase the transparency of their implementation and attract the attention of Russian contractors.
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Apparently, the projects will be related to infrastructure development, construction of energy facilities and water supply systems.
The new development bank has already allocated $336 million for Russian projects since 2017. It is planned to attract another $1.2bn by 2027. The appearance of such contracts on the Russian public procurement platform may increase the transparency of their implementation and attract the attention of Russian contractors.
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๐ง๐ท Brazil emphasizes cooperation, not confrontation, during its BRICS presidency amid Trump's tariff threats, a diplomat says
๐ฒBrazil, assuming the rotating presidency of the BRICS bloc, will avoid escalating global tensions and has no intention of replacing the dollar or adopting an anti-West stance, the Brazilian Foreign Ministry Secretary for Asia and the Pacific and the country's Sherpa to BRICS Eduardo Paes Saboia told a French media.
"We want to increase trade between us [BRICS members], increase investments and reduce transaction costs. There is a discussion about the use of local currencies in transactions, but not in an impositional way," Saboia noted.
In early December 2024, US President-elect Donald Trump, who will be inaugurated on January 20, demanded a commitment from the BRICS countries not to create a new BRICS currency or support any other currency to replace the US dollar, or face 100% tariffs.
"BRICS members are not anti-something, anti-West. On the contrary, after the 2008 crisis, the large developed economies sought the collaboration of BRICS countries in the effort to relaunch the world economy. In English, 'bricks' denotes a desire to build something, BRICS countries come to build, they do not come to worsen things," he said.
๐ค The focus is on collaboration within BRICS on various fronts, including science, technology, finance, and health, while actively participating in international forums and representing the Global South's interests, the diplomat emphasized.
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๐ฒBrazil, assuming the rotating presidency of the BRICS bloc, will avoid escalating global tensions and has no intention of replacing the dollar or adopting an anti-West stance, the Brazilian Foreign Ministry Secretary for Asia and the Pacific and the country's Sherpa to BRICS Eduardo Paes Saboia told a French media.
"We want to increase trade between us [BRICS members], increase investments and reduce transaction costs. There is a discussion about the use of local currencies in transactions, but not in an impositional way," Saboia noted.
In early December 2024, US President-elect Donald Trump, who will be inaugurated on January 20, demanded a commitment from the BRICS countries not to create a new BRICS currency or support any other currency to replace the US dollar, or face 100% tariffs.
"BRICS members are not anti-something, anti-West. On the contrary, after the 2008 crisis, the large developed economies sought the collaboration of BRICS countries in the effort to relaunch the world economy. In English, 'bricks' denotes a desire to build something, BRICS countries come to build, they do not come to worsen things," he said.
๐ค The focus is on collaboration within BRICS on various fronts, including science, technology, finance, and health, while actively participating in international forums and representing the Global South's interests, the diplomat emphasized.
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Uganda benefits from BRICS as a partner state
The inclusion of Uganda as a BRICS partner state opens doors for the East African nation to strengthen ties with some of the world's largest emerging markets and advance its own development, according to a senior government official.
Effective from January 1, 2025, Uganda, alongside eight other nations, officially became a partner state within the BRICS framework.
Through this partnership, Uganda aims to position itself as a prime investment destination, boasting abundant resources such as energy and minerals, which are in demand among #BRICS member states.
Mulimba further emphasised that by adding just five percent value to Uganda or Africa's natural resources, the region could generate over five million jobs, catering to its youthful population.
Additionally, Uganda's admission into BRICS provides an alternative avenue for financing, bypassing Western credit institutions often accompanied by restrictive conditions, offering the country greater flexibility in achieving its development goals.
#NEWS #Uganda
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The inclusion of Uganda as a BRICS partner state opens doors for the East African nation to strengthen ties with some of the world's largest emerging markets and advance its own development, according to a senior government official.
Effective from January 1, 2025, Uganda, alongside eight other nations, officially became a partner state within the BRICS framework.
"We have joined a platform or an association of countries that are highly industrialised, some of which have evolved from similar circumstances to where we are now," Minister of State for Foreign Affairs in charge of Regional Cooperation John Mulimba stated on Friday.
"BRICS offers a significant opportunity to learn from their technological advancements and innovations, including the use of information and communication technology as a tool for societal transformation," he added.
Through this partnership, Uganda aims to position itself as a prime investment destination, boasting abundant resources such as energy and minerals, which are in demand among #BRICS member states.
Mulimba further emphasised that by adding just five percent value to Uganda or Africa's natural resources, the region could generate over five million jobs, catering to its youthful population.
Additionally, Uganda's admission into BRICS provides an alternative avenue for financing, bypassing Western credit institutions often accompanied by restrictive conditions, offering the country greater flexibility in achieving its development goals.
#NEWS #Uganda
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Uganda to benefit from BRICS cooperation as partner state: Ugandan minister
KAMPALA, Jan. 11 (Xinhua) -- Uganda's admission as a BRICS partner state presents an opportunity for the East African country to benefit from deeper ties with some of the world's largest emerging markets and to facilitate its own development, a senior officialโฆ
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Forwarded from Xinhua News Agency Latest News
Interview: Entry into BRICS brings new development opportunities to Indonesia: expert
JAKARTA, Jan. 11 (Xinhua) -- Indonesia's entry into BRICS marks a strategic milestone for its domestic economy and global trade landscape, said Alexander Michael Tjahjadi, an Indonesian economist at the think tank Indonesia China Partnership Studies.
Tjahjadi, in an interview with Xinhua recently, said that since its establishment, BRICS has had a significant influence on the global economy. "Following the addition of new members in January 2024, BRICS has grown stronger economically."
Brazil, which holds the rotating presidency of the grouping in 2025, announced on Monday the official entry of Indonesia as a full member into BRICS.
Tjahjadi stressed that BRICS is not merely an international cooperation platform but also a medium for developing countries to exchange experiences and best practices, providing tangible economic benefits.
"For instance, China shares renewable energy technologies with African nations, while India and Brazil contribute their expertise in tropical agriculture. This reflects the BRICS principle of fostering cooperation in economic development," he said.
Noting that China is Indonesia's largest trading partner, Tjahjadi said Indonesia's membership will further bolster Indonesia-China relations in the economic and trade sectors.
He also highlighted trade relations with other BRICS countries, especially the immense potential to increase exports and expand its market, "particularly with China and India."
Tjahjadi suggested Indonesia strengthen its position in the African market and promote South-South cooperation. "South-South cooperation allows developing countries to pursue self-sustaining solutions rather than relying on external aid often tied to political or economic conditions. Addressing shared challenges such as poverty, inequality, and climate change is a key hallmark of South-South cooperation," he said.
For Indonesia, he said, building a robust investment ecosystem is essential. "The government must actively promote mutually beneficial collaborations and expand market access to ensure BRICS membership delivers tangible benefits to the Indonesian economy," he added. โ
2025-01-11 19:58:15
[Source: Xinhua] [Full Text]
JAKARTA, Jan. 11 (Xinhua) -- Indonesia's entry into BRICS marks a strategic milestone for its domestic economy and global trade landscape, said Alexander Michael Tjahjadi, an Indonesian economist at the think tank Indonesia China Partnership Studies.
Tjahjadi, in an interview with Xinhua recently, said that since its establishment, BRICS has had a significant influence on the global economy. "Following the addition of new members in January 2024, BRICS has grown stronger economically."
Brazil, which holds the rotating presidency of the grouping in 2025, announced on Monday the official entry of Indonesia as a full member into BRICS.
Tjahjadi stressed that BRICS is not merely an international cooperation platform but also a medium for developing countries to exchange experiences and best practices, providing tangible economic benefits.
"For instance, China shares renewable energy technologies with African nations, while India and Brazil contribute their expertise in tropical agriculture. This reflects the BRICS principle of fostering cooperation in economic development," he said.
Noting that China is Indonesia's largest trading partner, Tjahjadi said Indonesia's membership will further bolster Indonesia-China relations in the economic and trade sectors.
He also highlighted trade relations with other BRICS countries, especially the immense potential to increase exports and expand its market, "particularly with China and India."
Tjahjadi suggested Indonesia strengthen its position in the African market and promote South-South cooperation. "South-South cooperation allows developing countries to pursue self-sustaining solutions rather than relying on external aid often tied to political or economic conditions. Addressing shared challenges such as poverty, inequality, and climate change is a key hallmark of South-South cooperation," he said.
For Indonesia, he said, building a robust investment ecosystem is essential. "The government must actively promote mutually beneficial collaborations and expand market access to ensure BRICS membership delivers tangible benefits to the Indonesian economy," he added. โ
2025-01-11 19:58:15
[Source: Xinhua] [Full Text]
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Indonesia in BRICS: Exploring economic benefits and hurdles
Indonesia's recent integration into the BRICS bloc presents potential economic benefits, particularly for addressing its trade deficit in the oil and gas sector, according to Antara, the state news agency.
Achmad Nur Hidayat, an expert in economics and public policy at Universitas Pembanguan Nasional Veteran Jakarta, believes that Indonesia's #BRICS membership could enable access to Russian crude oil at more advantageous prices. He noted that the key benefit of trading oil with Russia is the possibility of obtaining prices below the market rate. Western sanctions on Russian oil have led the country to offer significant discounts to non-Western markets.
Moreover, the collaboration extends beyond simply acquiring oil. It could lead to broader energy partnerships, including investments in energy infrastructure, technological progress, and the transfer of knowledge, aiding Indonesia's long-term strategy for energy diversification.
Nevertheless, the expert highlighted significant challenges in the partnership. Due to Western sanctions, a major issue is Russia's restricted access to global payment systems, especially SWIFT (Society for Worldwide Interbank Financial Telecommunication). This limitation might complicate trade transactions between the two countries.
In this context, Indonesia should consider alternative payment methods, such as using local currencies or developing special payment systems. However, this strategy might put a strain on diplomatic relations with Western countries, which remain crucial strategic partners for Indonesia.
To mitigate risks, Archmad emphasised the importance of prudent and transparent energy cooperation with Russia. He stressed the need for clear policy frameworks to effectively manage risks, ensuring that the cooperation serves the nation's interests and public welfare.
#NEWS #Indonesia #energysector #technology
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Indonesia's recent integration into the BRICS bloc presents potential economic benefits, particularly for addressing its trade deficit in the oil and gas sector, according to Antara, the state news agency.
Achmad Nur Hidayat, an expert in economics and public policy at Universitas Pembanguan Nasional Veteran Jakarta, believes that Indonesia's #BRICS membership could enable access to Russian crude oil at more advantageous prices. He noted that the key benefit of trading oil with Russia is the possibility of obtaining prices below the market rate. Western sanctions on Russian oil have led the country to offer significant discounts to non-Western markets.
Moreover, the collaboration extends beyond simply acquiring oil. It could lead to broader energy partnerships, including investments in energy infrastructure, technological progress, and the transfer of knowledge, aiding Indonesia's long-term strategy for energy diversification.
Nevertheless, the expert highlighted significant challenges in the partnership. Due to Western sanctions, a major issue is Russia's restricted access to global payment systems, especially SWIFT (Society for Worldwide Interbank Financial Telecommunication). This limitation might complicate trade transactions between the two countries.
In this context, Indonesia should consider alternative payment methods, such as using local currencies or developing special payment systems. However, this strategy might put a strain on diplomatic relations with Western countries, which remain crucial strategic partners for Indonesia.
To mitigate risks, Archmad emphasised the importance of prudent and transparent energy cooperation with Russia. He stressed the need for clear policy frameworks to effectively manage risks, ensuring that the cooperation serves the nation's interests and public welfare.
#NEWS #Indonesia #energysector #technology
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BRICS membership opens door for Indonesia to access Russiaโs crude oil
Indonesiaโs recent entry to the BRICS bloc could provide the nation with potential economic advantages, particularly in addressing trade deficit in the oil and gas sector, according to state news agency Antara.
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Generation BRICS
This time we will discuss the term "full member of BRICS". What does it mean to be part of this bloc? Where did the name come from, and how has its composition changed? Let's get to the bottom of it.
Turning to history, BRICS is an international bloc, the name of which is formed from the first letters of the participating countries: #Brazil, #Russia, #India, #China and South Africa.
BRICS was established in the mid-2000s, and the first meeting of BRIC leaders took place in 2009. A year later, South Africa joined the bloc and BRIC became BRICS.
When a country is a full member of BRICS, it officially enters the bloc with the same rights and responsibilities. This ensures participation in joint initiatives, access to economic and political platforms, and opportunities for multidimensional cooperation.
Membership status implies compliance with established rules and participation in key projects, such as new settlement mechanisms, infrastructure development, or financing for sustainable development. In addition, member countries actively support each other's initiatives and develop joint solutions to global challenges.
Since its inception, BRICS has started to attract the attention of other nations, and the issue of expansion has been raised several times. In 2023, the addition of new member countries was announced at a summit in South Africa. On 1 January 2024, #Egypt, #Iran, the United Arab Emirates (#UAE) and #Ethiopia joined the bloc. An invitation to join has also been extended to Saudi Arabia, but the kingdom is yet to finalise internal procedures to become a full member.
The last event in the history of BRICS was the official accession of #Indonesia on 6 January 2025. Thus, BRICS has not only increased the number of members but also confirmed its status as a key international player.
However, the status of "full member" is only one of the options for participation in the bloc. Alongside this, there is the notion of "partner state", which plays its own role in the interaction with BRICS. We will tell you about this term next time, so that you can better understand the structure and mechanisms of BRICS.
#BRICSExpertCouncil #BRICSExpertCouncilRussia #wordoftheweek
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Growing BRICS shows power shift
BRICS continues its growth, welcoming Indonesia as a full member and adding eight partner nations, highlighting increased global influence and appeal. This milestone signals a shift in world power dynamics, particularly attracting Global South countries.
China remains supportive, expressing readiness for open and inclusive BRICS cooperation, as stated by Foreign Ministry spokesman Guo Jiakun. At the 16th BRICS Summit in Kazan, President Xi Jinping urged for high-quality BRICS development and greater cooperation to boost the Global South's role in global governance.
Wang Youming from the China Institute of International Studies stated BRICS' expansion to Southeast Asia, enhancing its influence in global affairs. Zhu Jiejin of Fudan University noted BRICSโ appealing governance model based on equality and mutual respect, emphasised by the New Development Bank's equal voting rights for all members.
Since 2015, the NDB has financed over 100 projects with loans totaling about $35 billion. BRICS nations, rich in resources and technological advantages, have embraced a model of complementary strengths, moving beyond the "winner takes all" approach, according to Liu Ying of the Chongyang Institute. #BRICS is now a key player against protectionism, expanding the global economy.
Economist Alexey Saliychuk praised China for leading innovation and green development in BRICS, noting its achievements in electric vehicles and renewable energy. In October, China announced the BRICS Digital Ecosystem Cooperation Network and encouraged participation to elevate BRICS cooperation.
Lan Qingxin from the University of International Business and Economics highlighted BRICS' open cooperation, attracting more countries amid global power competition and conflicts. An expanded BRICS continues to voice the concerns of Global South nations, advocating for fairness in geopolitical issues.
This is China Daily opinion piece, and these are the personal opinions of the writer. They do not reflect the views of the BRICS Expert CouncilโRussia
#OPINION #China
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BRICS continues its growth, welcoming Indonesia as a full member and adding eight partner nations, highlighting increased global influence and appeal. This milestone signals a shift in world power dynamics, particularly attracting Global South countries.
China remains supportive, expressing readiness for open and inclusive BRICS cooperation, as stated by Foreign Ministry spokesman Guo Jiakun. At the 16th BRICS Summit in Kazan, President Xi Jinping urged for high-quality BRICS development and greater cooperation to boost the Global South's role in global governance.
Wang Youming from the China Institute of International Studies stated BRICS' expansion to Southeast Asia, enhancing its influence in global affairs. Zhu Jiejin of Fudan University noted BRICSโ appealing governance model based on equality and mutual respect, emphasised by the New Development Bank's equal voting rights for all members.
Since 2015, the NDB has financed over 100 projects with loans totaling about $35 billion. BRICS nations, rich in resources and technological advantages, have embraced a model of complementary strengths, moving beyond the "winner takes all" approach, according to Liu Ying of the Chongyang Institute. #BRICS is now a key player against protectionism, expanding the global economy.
Economist Alexey Saliychuk praised China for leading innovation and green development in BRICS, noting its achievements in electric vehicles and renewable energy. In October, China announced the BRICS Digital Ecosystem Cooperation Network and encouraged participation to elevate BRICS cooperation.
Lan Qingxin from the University of International Business and Economics highlighted BRICS' open cooperation, attracting more countries amid global power competition and conflicts. An expanded BRICS continues to voice the concerns of Global South nations, advocating for fairness in geopolitical issues.
This is China Daily opinion piece, and these are the personal opinions of the writer. They do not reflect the views of the BRICS Expert CouncilโRussia
#OPINION #China
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Growing BRICS shows power shift
Experts say stronger representation good for Global South as Indonesia formally joins group.
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Forwarded from Xinhua News Agency Latest News
Indonesia's stock exchange highlights potential economic boost from BRICS membership
JAKARTA, Jan. 10 (Xinhua) -- Indonesia's official entry into BRICS has the potential to increase the flow of investment capital from member countries of the group into the domestic market, according to Indonesia Stock Exchange (IDX) on Friday.
"The increase in capital inflows means boosting national economic activity and growth," said Jeffrey Hendrik, IDX's director of developments. Increasing domestic economic activity also means improving issuer performance on the IDX and overall market performance, he added.
IDX emphasized the significance of collaboration and synergy among various domestic stakeholders to maximize membership benefits and address membership concerns.
Indonesia officially joined the BRICS economic bloc on Monday. โ
2025-01-10 21:40:15
[Source: Xinhua] [Full Text]
JAKARTA, Jan. 10 (Xinhua) -- Indonesia's official entry into BRICS has the potential to increase the flow of investment capital from member countries of the group into the domestic market, according to Indonesia Stock Exchange (IDX) on Friday.
"The increase in capital inflows means boosting national economic activity and growth," said Jeffrey Hendrik, IDX's director of developments. Increasing domestic economic activity also means improving issuer performance on the IDX and overall market performance, he added.
IDX emphasized the significance of collaboration and synergy among various domestic stakeholders to maximize membership benefits and address membership concerns.
Indonesia officially joined the BRICS economic bloc on Monday. โ
2025-01-10 21:40:15
[Source: Xinhua] [Full Text]
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BRICS as a platform for agricultural and food security cooperation
Ethiopia and Brazil, both members of BRICS, have reiterated their dedication to advancing collaboration in agriculture and food security. These efforts align with the agenda of promoting sustainable development among nations.
In Brasilia, a high-level meeting brought together Ethiopiaโs Ambassador to Brazil, Leulseged Tadese, and Brazilโs Minister of Social Development and Assistance, Family and Hunger Combat (MDS), Wellington Dias.
Ambassador Leulseged spotlighted Ethiopiaโs strides in agricultural transformation and its impactful school feeding programme, which not only enhances education outcomes but also strengthens food security. Minister Wellington Dias commended Ethiopiaโs progress and shared Brazilโs success in reducing poverty and hunger.
Both leaders reaffirmed their commitment to addressing shared challengesโsuch as climate change and food sovereigntyโthrough deeper cooperation. This partnership also reflects BRICSโs mission to foster inclusive and sustainable growth across its member states.
#NEWS #Ethiopia #Brazil #agriculture #security
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Ethiopia and Brazil, both members of BRICS, have reiterated their dedication to advancing collaboration in agriculture and food security. These efforts align with the agenda of promoting sustainable development among nations.
In Brasilia, a high-level meeting brought together Ethiopiaโs Ambassador to Brazil, Leulseged Tadese, and Brazilโs Minister of Social Development and Assistance, Family and Hunger Combat (MDS), Wellington Dias.
Ambassador Leulseged spotlighted Ethiopiaโs strides in agricultural transformation and its impactful school feeding programme, which not only enhances education outcomes but also strengthens food security. Minister Wellington Dias commended Ethiopiaโs progress and shared Brazilโs success in reducing poverty and hunger.
Both leaders reaffirmed their commitment to addressing shared challengesโsuch as climate change and food sovereigntyโthrough deeper cooperation. This partnership also reflects BRICSโs mission to foster inclusive and sustainable growth across its member states.
#NEWS #Ethiopia #Brazil #agriculture #security
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Ethiopia and Brazil strengthen agricultural and food security cooperation | TV BRICS, 13.01.25
Ethiopia and Brazil have reaffirmed their commitment to deepening collaboration in agriculture and food security, aiming to enhance mutual development in these ...
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Regional digital trade in BRICS
BRICS is reshaping global digital trade with initiatives like the BRICS Pay System and the proposed BRICS Clear financial infrastructure, moving beyond participation to leadership in the global economy.
โ BRICS Pay: secure, cost-effective solution for global digital trade
At the 14th BRICS Trade Ministers Meeting in July 2024, the group emphasised the importance of e-commerce in global growth and committed to building a secure, integrated digital trade framework that supports both B2B and B2C transactions. The Kazan Declaration 2024 highlighted the shift towards using local currencies for trade within BRICS, furthering financial cooperation among member nations.
This new approach is especially transformative for Micro, Small, and Medium-sized Enterprises (MSMEs), empowering them to access international markets with fewer barriers. The Kazan Declaration also reinforced the groupโs commitment to ensuring trust, transparency, and consumer protections in digital commerce.
โ BRICS Clear: the future of cross-border settlements in digital trade
A key development is the creation of BRICS Clear, an independent cross-border settlement infrastructure. This system will allow #BRICS countries to directly settle transactions, bypassing traditional financial networks and their associated fees. Supported by the New Development Bank (NDB), BRICS is building an internal financial framework to strengthen regional growth and reduce reliance on external systems.
With these initiatives, BRICS is setting a new precedent for independent, secure, and inclusive cross-border e-commerce, fostering economic resilience and empowering emerging markets globally.
#NEWS #finance #technology
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BRICS is reshaping global digital trade with initiatives like the BRICS Pay System and the proposed BRICS Clear financial infrastructure, moving beyond participation to leadership in the global economy.
At the 14th BRICS Trade Ministers Meeting in July 2024, the group emphasised the importance of e-commerce in global growth and committed to building a secure, integrated digital trade framework that supports both B2B and B2C transactions. The Kazan Declaration 2024 highlighted the shift towards using local currencies for trade within BRICS, furthering financial cooperation among member nations.
This new approach is especially transformative for Micro, Small, and Medium-sized Enterprises (MSMEs), empowering them to access international markets with fewer barriers. The Kazan Declaration also reinforced the groupโs commitment to ensuring trust, transparency, and consumer protections in digital commerce.
A key development is the creation of BRICS Clear, an independent cross-border settlement infrastructure. This system will allow #BRICS countries to directly settle transactions, bypassing traditional financial networks and their associated fees. Supported by the New Development Bank (NDB), BRICS is building an internal financial framework to strengthen regional growth and reduce reliance on external systems.
With these initiatives, BRICS is setting a new precedent for independent, secure, and inclusive cross-border e-commerce, fostering economic resilience and empowering emerging markets globally.
#NEWS #finance #technology
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How BRICS strengthens regional digital trade | TV BRICS, 13.01.25
The BRICS nations are constructing a fresh model for cross-border e-commerce. Through initiatives like the BRICS Pay System and a proposed independent financial...
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Indonesia to leverage BRICS membership for mining exports
Deputy Minister of Energy and Mineral Resources, Yuliot Tanjung, announced that Indonesia will capitalise on its BRICS membership to boost exports of mining products, particularly to major markets like China and India.
BRICS, an influential strategic partnership, operates on three key pillars: political-security, economic-financial, and cultural-humanitarian cooperation. Its current member states include Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, and the United Arab Emirates.
Despite this optimism, Yuliot noted that the potential domestic impact of Indonesiaโs full BRICS membership on the mining sector is still under review. He emphasised that Indonesiaโs decision to join the bloc had been based on comprehensive and strategic evaluations.
Indonesia officially became a #BRICS member following an announcement by Brazil, the 2025 BRICS chairship holder, on January 6, 2025.
According to the ministry, joining BRICS symbolises Indonesiaโs growing active role on the global stage and provides an opportunity to strengthen multilateral cooperation for addressing critical global issues.
#NEWS #Indonesia
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Deputy Minister of Energy and Mineral Resources, Yuliot Tanjung, announced that Indonesia will capitalise on its BRICS membership to boost exports of mining products, particularly to major markets like China and India.
BRICS, an influential strategic partnership, operates on three key pillars: political-security, economic-financial, and cultural-humanitarian cooperation. Its current member states include Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, and the United Arab Emirates.
โWe can utilise BRICS members for our markets such as India and China; they have large populations with large potential,โ Yuliot stated.
Despite this optimism, Yuliot noted that the potential domestic impact of Indonesiaโs full BRICS membership on the mining sector is still under review. He emphasised that Indonesiaโs decision to join the bloc had been based on comprehensive and strategic evaluations.
Indonesia officially became a #BRICS member following an announcement by Brazil, the 2025 BRICS chairship holder, on January 6, 2025.
According to the ministry, joining BRICS symbolises Indonesiaโs growing active role on the global stage and provides an opportunity to strengthen multilateral cooperation for addressing critical global issues.
#NEWS #Indonesia
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Indonesia leverages BRICS membership to boost mining exports to China, India | Lobby - Indonesia Business Post
Deputy Minister of Energy and Mineral Resources (ESDM), Yuliot Tanjung, says that Indonesia will utilize its BRICS membership to export mining products, especially to China and India, Antara reported.
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South Africa strengthens BRICS ties by simplifying travel for Chinese and Indian tourists
South Africa has taken a significant step by simplifying visa services for tourists from China and India. This initiative reflects South Africaโs efforts to attract more visitors from its #BRICS partners through the Trusted Travel Agency Programme.
Unveiled by South Africa's Department of Home Affairs, the programme aims to boost tourism, stimulate economic growth, and create employment. A total of 65 travel agencies have been accredited under this scheme, following a stringent evaluation by the Departments of Home Affairs and Tourism. These trusted agencies, recognised for their expertise and compliance with international standards, are now authorised to facilitate faster visa applications for travellers from China and India.
Set to launch in January 2025, the initiative aims to address the need for more efficient visa processes to attract tourists from two of the worldโs largest outbound travel markets. By simplifying procedures, South Africa hopes to tap into these vast tourism markets. Agreements with accredited agencies are being finalised, with the first wave of tourists under this programme expected to arrive shortly.
This move reinforces South Africaโs role as an active member of BRICS, driving partnerships and promoting economic cooperation among member states.
#NEWS #SouthAfrica #China #India #tourism
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South Africa has taken a significant step by simplifying visa services for tourists from China and India. This initiative reflects South Africaโs efforts to attract more visitors from its #BRICS partners through the Trusted Travel Agency Programme.
Unveiled by South Africa's Department of Home Affairs, the programme aims to boost tourism, stimulate economic growth, and create employment. A total of 65 travel agencies have been accredited under this scheme, following a stringent evaluation by the Departments of Home Affairs and Tourism. These trusted agencies, recognised for their expertise and compliance with international standards, are now authorised to facilitate faster visa applications for travellers from China and India.
Set to launch in January 2025, the initiative aims to address the need for more efficient visa processes to attract tourists from two of the worldโs largest outbound travel markets. By simplifying procedures, South Africa hopes to tap into these vast tourism markets. Agreements with accredited agencies are being finalised, with the first wave of tourists under this programme expected to arrive shortly.
This move reinforces South Africaโs role as an active member of BRICS, driving partnerships and promoting economic cooperation among member states.
#NEWS #SouthAfrica #China #India #tourism
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TV BRICS
South Africa streamlines visa services to attract tourists from China and India | TV BRICS, 14.01.25
South Africa simplified visa services for tourists from China and India with the announcement of its first batch of 65 accredited companies under the Trusted Tr...
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Vietnam deepens ties with Russia
During an official visit to Vietnam on January 14-15, Russian Prime Minister Mikhail Mishustin conveyed greetings and best wishes from Russian President Vladimir Putin to Vietnamese Prime Minister Pham Minh Chinh.
Expressing gratitude, the Vietnamese PM highlighted Russia's historical support for Vietnamโs liberation, reunification, and reconstruction. He emphasised that their enduring friendship is built on the commitment to strengthen relations and elevate them to greater heights for future generations.
In the spirit of cooperation, the Vietnamese PM proposed outlining key areas for closer collaboration between both countries. He specifically reflected on the significance of his visit to Russia for the 2024 BRICS Summit in Kazan, where he interacted with President Putin.
The greetings reflect the shared determination of both countries to enhance cooperation and align their efforts within multilateral platforms like #BRICS. The visit further reinforces the strategic partnership between Russia and Vietnam, rooted in mutual respect and a common vision for the future.
#NEWS #Vietnam #Russia
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During an official visit to Vietnam on January 14-15, Russian Prime Minister Mikhail Mishustin conveyed greetings and best wishes from Russian President Vladimir Putin to Vietnamese Prime Minister Pham Minh Chinh.
Expressing gratitude, the Vietnamese PM highlighted Russia's historical support for Vietnamโs liberation, reunification, and reconstruction. He emphasised that their enduring friendship is built on the commitment to strengthen relations and elevate them to greater heights for future generations.
In the spirit of cooperation, the Vietnamese PM proposed outlining key areas for closer collaboration between both countries. He specifically reflected on the significance of his visit to Russia for the 2024 BRICS Summit in Kazan, where he interacted with President Putin.
"My trip to Russia for the BRICS Plus/Outreach meeting last October was a remarkable experience. I managed to witness the great changes that took place in Russia, I felt Russia's will and spirit. My talks with President [Vladimir] Putin and my discussions with the leadership of the Russian government and ministries left a lasting impression on my colleagues and me. The talks with the Russian president lasted two hours at night - from 11 p.m. to 1 a.m. in the morning," the PM said.
The greetings reflect the shared determination of both countries to enhance cooperation and align their efforts within multilateral platforms like #BRICS. The visit further reinforces the strategic partnership between Russia and Vietnam, rooted in mutual respect and a common vision for the future.
#NEWS #Vietnam #Russia
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Russian PM conveys Putin's words of greetings, best wishes to Vietnamese counterpart
The Vietnamese PM proposed outlining areas that require closer cooperation in the near future during the talks
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Russian Foreign Minister Sergey Lavrov summarises results of Russian diplomacy for 2024
Russian Foreign Minister Sergey Lavrov outlined Moscowโs priorities in international relations during his annual press conference, highlighting the strengthening of partnerships within BRICS and the Shanghai Cooperation Organisation (SCO).
Lavrov emphasised the stabilising role of the Russia-China partnership, calling it a cornerstone of modern international stability. He noted that the cooperation between Moscow and Beijing has led to the development of new-type international associations, including the #SCO and #EAEU. He also highlighted the cooperation within #BRICS, which gained momentum in recent years.
#NEWS #politics #diplomacy
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Russian Foreign Minister Sergey Lavrov outlined Moscowโs priorities in international relations during his annual press conference, highlighting the strengthening of partnerships within BRICS and the Shanghai Cooperation Organisation (SCO).
Lavrov emphasised the stabilising role of the Russia-China partnership, calling it a cornerstone of modern international stability. He noted that the cooperation between Moscow and Beijing has led to the development of new-type international associations, including the #SCO and #EAEU. He also highlighted the cooperation within #BRICS, which gained momentum in recent years.
"BRICS [...] has become even stronger after the Kazan summit. Indonesia, which we actively supported during the Russian presidency, became a full member. Eight more countries have become partner states. Close cooperation is developing between the SCO and #ASEAN, and many other associations. And all this is happening on the basis of consensus, but of course, the Russian-Chinese tandem contributes to the effective advancement of all these processes with the support of the other participants"
#NEWS #politics #diplomacy
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TV BRICS
Russian Foreign Minister Sergey Lavrov summarises results of Russian diplomacy for 2024 | TV BRICS, 14.01.25
Russia's plans on the international track in the new year, strengthening partnership with BRICS and SCO, and prospects for developing cooperation with Latin Ame...
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Forwarded from Russian MFA ๐ท๐บ
๐ท๐บ๐ฆ๐ช On January 14, Russia's Foreign Minister Sergey Lavrov received Ambassador of the United Arab Emirates to Moscow Mohammed Al Jaber.
๐ค The Parties discussed in detail a wide range of issues related to further strengthening the traditionally friendly Russia-UAE relations in the context of the implementation of the agreements reached following the official visit of President of the UAE Mohammed bin Zayed Al Nahyan to Russia on October 20-21, 2024.
The Parties had an honest discussion on the pressing Middle East issues, as well as various aspects of cooperation between Russia and the UAE within BRICS.
#RussiaUAE
๐ค The Parties discussed in detail a wide range of issues related to further strengthening the traditionally friendly Russia-UAE relations in the context of the implementation of the agreements reached following the official visit of President of the UAE Mohammed bin Zayed Al Nahyan to Russia on October 20-21, 2024.
The Parties had an honest discussion on the pressing Middle East issues, as well as various aspects of cooperation between Russia and the UAE within BRICS.
#RussiaUAE
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Forwarded from Sputnik International
"The Russian side welcomed Vietnam's active participation in BRICS events in 2024 and expressed its readiness to facilitate its accession to this association as a partner country," stated the joint communique issued after Russian Prime Minister Mikhail Mishustin's visit to Vietnam on Wednesday.
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Lukashenko endorses Belarus' strategies for SCO and BRICS involvement
Belarusian President Aleksandr Lukashenko has sanctioned the strategies for Belarus' engagement with the Shanghai Cooperation Organisation and BRICS, as reported by the Administration of the Belarus President.
The government's draft proposals for the strategies of Belarus' participation in these international bodies were presented to the president, who has given his approval.
In the summer of 2024, Belarus joined the SCO as a full member and subsequently formalised its status as a BRICS partner state.
The strategy for Belarus' involvement in the #SCO outlines the core areas, goals, and activity plans, along with the mechanisms for their implementation in both the short and medium term. Meanwhile, the #BRICS strategy specifies the main areas of cooperation with member and partner states of the bloc.
Both strategic plans are set to be effective for five years until 2030, with provisions for extensions, updates, and revisions as needed in response to evolving global trends.
#NEWS #Belarus
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Belarusian President Aleksandr Lukashenko has sanctioned the strategies for Belarus' engagement with the Shanghai Cooperation Organisation and BRICS, as reported by the Administration of the Belarus President.
The government's draft proposals for the strategies of Belarus' participation in these international bodies were presented to the president, who has given his approval.
In the summer of 2024, Belarus joined the SCO as a full member and subsequently formalised its status as a BRICS partner state.
The strategy for Belarus' involvement in the #SCO outlines the core areas, goals, and activity plans, along with the mechanisms for their implementation in both the short and medium term. Meanwhile, the #BRICS strategy specifies the main areas of cooperation with member and partner states of the bloc.
Both strategic plans are set to be effective for five years until 2030, with provisions for extensions, updates, and revisions as needed in response to evolving global trends.
#NEWS #Belarus
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Lukashenko approves strategies of Belarus' participation in SCO, BRICS
Belarusian President Aleksandr Lukashenko has approved the strategies of Belarus' participation in the Shanghai Cooperation Organization (SCO) and BRICS
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Forwarded from Sputnik Africa
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๐ "To function as a unified force": an expert comments on Lavrov's annual review of the global agenda
Africa is still a geopolitical battleground, with many European countries having military bases on the continent, Dr. Ntsikelelo Breakfast, professor at the Department of History and Political Studies at the Nelson Mandela University, told Sputnik Africa, commenting on Africa's role in the emerging multipolar world.
Earlier, the Russian foreign minister said that the world is now witnessing the climax of the dispute between multipolarity and those to whom "the UN Charter does not apply."
Dr. Breakfast argued that Africa, which is now being used for wealth accumulation, must amplify its voice and act as a unified force to effectively address poverty and underdevelopment.
Commenting on the possible UN reform mentioned in Lavrov's speech, the expert stated that while two Security Council seats for Africa would be a step forward, economic self-sufficiency through internal markets and Global South trade is crucial to "step up to the plate in terms of having a voice internationally."
Regarding the future policies of the next US president, Dr. Breakfast predicted that Trump's "America First" approach would result in a more inward-looking US, potentially disrupting global markets and posing "a threat to BRICS countries." However, he also acknowledged Trump's stated intention to end the Ukraine conflict as a potential avenue for cooperation with Russia as a positive factor.
Earlier, Lavrov said that if Trump "makes America even greater" upon taking office, Russia should closely follow what methods he will use to achieve this goal.
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๐ธ Sputnik Africa ๐ธ
Africa is still a geopolitical battleground, with many European countries having military bases on the continent, Dr. Ntsikelelo Breakfast, professor at the Department of History and Political Studies at the Nelson Mandela University, told Sputnik Africa, commenting on Africa's role in the emerging multipolar world.
Earlier, the Russian foreign minister said that the world is now witnessing the climax of the dispute between multipolarity and those to whom "the UN Charter does not apply."
Dr. Breakfast argued that Africa, which is now being used for wealth accumulation, must amplify its voice and act as a unified force to effectively address poverty and underdevelopment.
Commenting on the possible UN reform mentioned in Lavrov's speech, the expert stated that while two Security Council seats for Africa would be a step forward, economic self-sufficiency through internal markets and Global South trade is crucial to "step up to the plate in terms of having a voice internationally."
Regarding the future policies of the next US president, Dr. Breakfast predicted that Trump's "America First" approach would result in a more inward-looking US, potentially disrupting global markets and posing "a threat to BRICS countries." However, he also acknowledged Trump's stated intention to end the Ukraine conflict as a potential avenue for cooperation with Russia as a positive factor.
Earlier, Lavrov said that if Trump "makes America even greater" upon taking office, Russia should closely follow what methods he will use to achieve this goal.
Subscribe to @sputnik_africa
๐ธ Sputnik Africa ๐ธ
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Forwarded from Xinhua News Agency Latest News
NDB issues 5-year Panda bond worth 6 bln yuan
SHANGHAI, Jan. 15 (Xinhua) -- The New Development Bank (NDB) has issued a five-year Panda bond worth 6 billion yuan (about 834.7 million U.S. dollars) in China's Interbank Bond Market, the bank announced on Wednesday.
"We are pleased to see a strong demand from investors for the bond issuance," said Monale Ratsoma, vice president and chief financial officer of NDB.
NDB works towards expanding its funding sources through local currency-denominated bond issuance, both onshore and offshore, in a cost-effective manner, he added.
Panda bonds are yuan-denominated debts sold by overseas issuers to meet financing demand. The total amount of Panda bonds issued by the NDB to date has hit 61.5 billion yuan in China.
Headquartered in Shanghai, the New Development Bank was established by Brazil, Russia, India, China and South Africa to mobilize resources for infrastructure and sustainable development projects in BRICS member nations and in other emerging market economies and developing countries. โ
2025-01-15 23:35:31
[Source: Xinhua] [Full Text]
SHANGHAI, Jan. 15 (Xinhua) -- The New Development Bank (NDB) has issued a five-year Panda bond worth 6 billion yuan (about 834.7 million U.S. dollars) in China's Interbank Bond Market, the bank announced on Wednesday.
"We are pleased to see a strong demand from investors for the bond issuance," said Monale Ratsoma, vice president and chief financial officer of NDB.
NDB works towards expanding its funding sources through local currency-denominated bond issuance, both onshore and offshore, in a cost-effective manner, he added.
Panda bonds are yuan-denominated debts sold by overseas issuers to meet financing demand. The total amount of Panda bonds issued by the NDB to date has hit 61.5 billion yuan in China.
Headquartered in Shanghai, the New Development Bank was established by Brazil, Russia, India, China and South Africa to mobilize resources for infrastructure and sustainable development projects in BRICS member nations and in other emerging market economies and developing countries. โ
2025-01-15 23:35:31
[Source: Xinhua] [Full Text]
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Forwarded from TASS Russian news agency
Venezuela continues developing closer relations with BRICS countries and thanks them for the support for its accession to the association, Venezuelan President Nicolas Maduro said.
โI am thankful for the BRICS countriesโ support for Venezuelaโs accession to this association of the future,โ he stressed.
"Venezuelaโs geopolitical plans include further rapprochement with BRICS countries,โ he said in an annual address to the National Assembly, or parliament, which was broadcast by the Venezolana de Television TV channel.
โI am thankful for the BRICS countriesโ support for Venezuelaโs accession to this association of the future,โ he stressed.
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