In touch with BRICS: news digest

Breaking down BRICS agenda—key collaborations and new initiatives

✔Lula da Silva plans to propose WTO reform at BRICS Summit

✔Russia redirecting vast quantities of fertilisers to BRICS nations

✔Malaysia draws unprecedented level of investment from BRICS countries

✔BRICS+ AI Success Hub set for launch this November

✔During the visit to China, a working meeting was held between the BRICS Expert Council and CNIE

✔Laos interested in becoming part of BRICS

✔BRICS Legal Studies School 2025 held in Brazil

✔Victoria Panova shares insights at Open Dialogue

✔Myanmar expresses interest in joining BRICS

✔BRICS Urban Future Forum to explore megacity development in Moscow

✔Russian AI solutions hold significant export potential for BRICS markets

✔Xi Jinping backs fast-tracking Malaysia's entry into #BRICS

✔Putin to take part in BRICS online summit

✔China to host BRICS forum on industrial cooperation

#BRICSExpertCouncilDIGEST

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Extraordinary BRICS Summit to Be Held on Monday: What We Know

🟠The event, convened by the Brazilian president, will be hosted in a videoconference format.

🟠Main focus of the discussions will revolve around US trade policy and its repercussions in the world.

🟠The leaders’ round table will take place at 12:00 GMT behind closed doors. It is unlikely that a joint statement will be issued after the meeting, a US media outlet reported, citing a Brazilian official.

🟠Vladimir Putin will take part in the meeting, Kremlin spokesman Dmitry Peskov confirmed.

🟠 Xi Jinping will deliver an important speech during the event, according to the Chinese Foreign Ministry.

🟠South African president Cyril Ramaphosa is also attending the summit, his press secretary noted.

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Lavrov: BRICS Summit to address response to Western trade actions

The BRICS nations will develop additional measures to counter the West's illegal actions in global trade during an extraordinary virtual summit, announced Russian Foreign Minister Sergey Lavrov.

"Today, a virtual #BRICS Summit via video conference will be held, in which our president Vladimir Putin will also take part. The summit is being convened at the initiative of Brazilian President Lula da Silva; it will focus on the necessity to develop additional steps to counteract the West's illegal actions in world trade and global finance, including a response to the so-called tariff war," said the Foreign Minister.

Lavrov emphasised that every action has an equal and opposite reaction, noting: "There are no prohibitions that could not be circumvented, and the prohibitions in this case are overwhelmingly illegitimate, contradicting international law, WTO norms, while actions to circumvent them, accordingly, are based on agreements between the parties without employing illegal methods that harm others."

#NEWS #diplomacy #summit

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Chinese Foreign Ministry called BRICS a positive and stable force in global affairs

Amid growing unilateralism and protectionism worldwide, BRICS has emerged as a positive and stable force in international relations, stated Chinese Foreign Ministry Spokesperson Lin Jian during a Monday press briefing.

"The BRICS cooperation mechanism is an important platform for solidarity and cooperation between emerging markets and developing countries," the diplomat emphasised.

He further noted that "in the face of rising unilateralism and protectionism, #BRICS countries jointly safeguard multilateralism, defend fairness and justice, promote common development, and become a positive and stable force for good in international affairs."

#NEWS #China

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Lavrov: Russia is now Europe’s largest economy by purchasing power parity

The West predicted an economic collapse and Russia’s complete isolation, but statistics now show that Russia has become the world’s fourth-largest economy and Europe’s biggest by purchasing power parity, stated Russian Foreign Minister Sergey Lavrov.

"Statistics from Western banks, including the World Bank, indicate that Russia has become the world’s fourth-largest economy by purchasing power parity, after the US, China, and India, and the largest economy in Europe by the same measure," Lavrov emphasised.

The minister stressed that the rhetoric of isolating Russia has proven hollow, and recent events under the Shanghai Cooperation Organisation (#SCO) and #BRICS have clearly shown that this narrative serves as a convenient pretext for some Western countries to publicly reinforce their position.

#NEWS #economy

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Seminar on Financial Integration in the BRICS Countries

A joint research group from HSE University and the University of Campinas will host a seminar titled "Financial Integration in the BRICS Countries" as part of the International Academic Cooperation project led by the Russian institution. The event will delve into the theoretical aspects of financial integration and evaluate its current level among the #BRICS nations.

🗣️ Format: online
🔥 Date and time: September 10, 4 pm (GMT+3)

📎 Registration is available on the website

#EVENT #finance

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Lula da Silva: BRICS stands as a synonym for defending multilateralism

Amid growing global instability, BRICS is synonymous with the "defence of multilateralism," stated Brazilian President Luiz Inácio Lula da Silva.

According to him, the Global South possesses all the necessary conditions to propose a different development paradigm and to resist the new Cold War.

"Unilateralism will never lead to the realisation of the goals of peace, justice, and prosperity that our predecessors outlined in 1945 ... #BRICS is already the new name for the defence of multilateralism," said the President of Brazil.

He pointed out that the pillars of the international order established in 1945 are being undermined at an accelerated pace and in an irresponsible manner.

#NEWS #politics

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Iran proposes to create a BRICS mechanism to counter sanctions

During the BRICS Summit, President of Iran Masoud Pezeshkian proposed establishing a mechanism to counter unilateral sanctions imposed on member nations.

Pezeshkian stated that the purpose of such a mechanism would be to support #BRICS members, as well as to foster continued economic development in nations facing "unfair political pressure."

In his address, Iranian leader emphasised that the rise of unilateral measures is one of the most significant threats to justice and stability in the modern world order. He argued that such a policy not only endangers the national interests of sovereign states, but also weakens global cooperation and hinders sustainable development.

#NEWS #Iran #sanctions

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Expert highlights political importance of virtual BRICS summit

Monday’s virtual BRICS Summit was of high political importance as it confirmed a new global configuration said Andrey Bystritsky, Board Chairman of the Valdai Discussion Club’s Foundation for Development and Support.

"The BRICS Summit, organised at the initiative of the Brazilian President Lula da Silva, was very important. First and foremost, it was important in terms of politics because the summit in itself is an interesting case," he pointed out.

The analyst pointed to "a new global configuration," with the countries of the Global South discussing their relations with other nations, including the United States. According to Bystritsky, "it was a very important symbol" and "a crucial event that should provoke thought."

In his view, the meeting, which discussed ways to counter sanctions, will undoubtedly impact the international situation. The expert noted that the virtual #BRICS Summit "symbolises crucial changes" in the world.

#NEWS #summit

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Victor Jeifets, Professor at the Russian Academy of Sciences and Saint Petersburg State University, and Chief Researcher at the Institute of Latin America of the Russian Academy of Sciences, shared his perspective on the recent extraordinary BRICS Summit.

"Based on available information, the #BRICS online summit was not intended to produce any major decisions. The closed format and short duration of the meeting—just an hour and a half to two hours—make it practically impossible to agree on significant initiatives unless they were prepared beforehand. Had such decisions been made, they would have been formally announced and the media would have been invited," the expert stated.

Victor Jeifets, pointed out that, in his view, the summit pursued other objectives:

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Emphasising unity

The summit demonstrated that #BRICS members remain united on fundamental issues and are not pursuing separate agreements against the United States. In this regard, the goal appears to have been achieved.

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Diagnosing problems

The speeches, including that of Indonesia’s representative, touched upon various issues such as trade imbalances.

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Offering criticism of international institutions

Participants increasingly stress the importance of international law while also voicing criticism of existing institutions, such as the UN Security Council. The Egyptian leader’s speech was especially critical of the Security Council’s effectiveness and its declining credibility—such strong rhetoric is uncommon at the level of heads of state.

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Reinforcing support for peace initiatives of the Global South

Support was expressed for the ‘friends of peace’ initiative proposed by China and backed by Brazil and several other countries. This reflects the desire of the Global South nations to engage more actively in conflict resolution, not necessarily due to direct interest in specific details, but because they view it as illegitimate to manage such processes solely through Eurocentric mechanisms. This concerns the interests of a broader range of countries, not just Europe.

#EXPERT #OPINION #BRICSExpertCouncil #BRICSExpertCouncilRussia #summit

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Roundtable "BRICS Approaches to the Development of Settlements in National Currencies"

On September 26, a roundtable titled "BRICS Approaches to the Development of Settlements in National Currencies" will be held as part of the activities of the International Thematic Group on Economics under the BRICS Network University.

This event will bring together experts and members of the academic community to discuss current trends and key challenges in developing settlements in national currencies within the #BRICS framework.

Topics for discussion:
➖Potential solutions to challenges posed by the current dollar-centric financial system for BRICS countries
➖Strategies to enhance the liquidity of national currencies for BRICS cooperation
➖The potential for establishing a closed multilateral settlement system
➖The role of central bank digital currencies in de-dollarisation

🗣️ Working language: English
🔥 Date and time: September 26, 4:00 pm – 5:30 pm
📍 Venue: Conference Hall 106, 17с1 Malaya Ordynka Street, Moscow

📎 Registration is available on the website

#EVENT #finance

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India as a key player in the new world order and the role of BRICS

In recent weeks, India has emerged as a focal point of international attention. The escalating tensions with the United States highlight India's hesitance to fully align with American foreign policy. Prime Minister Narendra Modi's visit to China for the Shanghai Cooperation Organisation (SCO) Summit, along with a trilateral meeting with Chinese President Xi Jinping and Russian President Vladimir Putin, has reignited discussions about the revitalised Russia-India-China triangle and India's role in reshaping global institutions.

Lydia Kulik, Senior Research Fellow at the Institute of Oriental Studies of the Russian Academy of Sciences, points out that one of India's significant achievements in recent years has been the democratisation of public administration and economic policy instruments. According to Kulik, New Delhi's experience can be translated to the international stage, potentially influencing the establishment of more equitable global institutions, as highlighted in discussions surrounding #BRICS and #SCO.

✔A tangible outcome of one of the SCO Summits was the establishment of the Development Bank. While the SCO initially focused on regional security, it soon became clear that security and economic stability are intertwined. The creation of economic instruments within the SCO resonates with 🕊🕊🕊🕊🕊 initiatives and reflects a re-evaluation of the G20's role. These developments aim to democratise international institutions and provide fairer mechanisms for sustainable economic growth.

✔India stands as a symbol and voice for the Global South; its internal development trajectory and international policies echo the aspirations of numerous developing nations seeking sustainable growth and the autonomy to establish their own development frameworks without succumbing to external pressures. India's expanding influence within BRICS and SCO is instrumental in forming alternative decision-making centres in global economy and politics, positioning it as a vital player in shaping the future world order.

#OPINION #India #diplomacy

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9th BRICS International Competition Conference

The 9th BRICS International Competition Conference commenced in Cape Town, South Africa, focusing on the theme “Competition Law in Uncertain Times”.

In her opening address, Doris Tshepe, Commissioner of the South African Competition Commission, noted that BRICS now includes Brazil, Russia, India, China, South Africa, Ethiopia, Egypt, Iran, Indonesia, and the United Arab Emirates. Together, these nations represent 43% of the world’s population, contribute 36% of global GDP in terms of purchasing power parity, and occupy nearly a third of the Earth’s land area.

She emphasised that the conference opens a new chapter in the evolution of #BRICS, the advancement of global competition policy, and the joint efforts of Global South countries to build a fairer and more inclusive international economic order.

The BRICS International Competition Conference is a major event for the group’s members, playing a vital role in enhancing international cooperation in antitrust regulation and competition policy development. Since 2009, the conference has been held biennially, rotating among BRICS member nations. The previous conference took place in New Delhi, India, in 2023.

#NEWS #SouthAfrica

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China releases BRICS Trade Index

China has unveiled the BRICS Trade Index, an analytical tool designed to objectively assess the state, dynamics, and potential of mutual trade among the BRICS member nations.

The index uses 2009 as its base period, with 2009 indicators set at 100 points. That same year, the first BRICS Summit was held in Yekaterinburg, Russia. According to the General Administration of Customs, the index climbed to 301.51 points in 2024, reflecting a strong positive trend in trade development.

The trade index between China and other #BRICS member countries incorporates 🕊 indicators:
✔trade scale
✔structure
✔innovation
✔potential

Earlier this year the BRICS Expert Council-Russia presented the results of BRICS cooperation progress. The exclusive report "BRICS Cooperation Progress According to BTTC Indicator System" was prepared by the BRICS Expert Council-Russia with the support of the BRICS Think Tank Council (BTTC), based on the results of Russia’s BRICS Chairship in 2024.

It uses a comprehensive indicator system that showcases progress in cooperation across various areas, highlights key achievements, and identifies areas that require further collaboration.

#NEWS #China

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Russian State Duma proposes expanding BRICS with Laos and Myanmar

The BRICS membership could grow to include Laos and Myanmar, stated Deputy Chairman of the State Duma Sholban Kara-ool in an interview on the sidelines of the Eastern Economic Forum.

"Given our current focus on the Asia-Pacific, it makes sense to deepen interaction with regional organisations that are stable and authoritative in the region, as well as enjoy global recognition and influence. They are very structured—ASEAN, for example. It is important to note that the vast majority of #ASEAN nations are friendly toward us, and some are direct allies. It would be right for Russia to support the aspiration of nations like Laos and Myanmar to join global integration groups with our participation, such as #BRICS, since these countries support our positions, including at the UN and on other joint dialogue platforms, without hesitation or fear," Kara-ool noted.

#NEWS #Laos #Myanmar

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Russian Finance Ministry anticipates progress on BRICS reinsurance capacity in coming years

The Russian Finance Ministry expects to achieve significant progress within the next one to two years in establishing a reinsurance capacity for the BRICS countries, stated Deputy Finance Minister Ivan Chebeskov at the Future of the Insurance Market conference.

According to him, consultations on creating an alternative international reinsurance capacity have yielded positive results and revealed strong interest from partner countries.

"It seems very positive to me that this initiative has found a response from a large number of our international partners, because they also know how to count their money. They know how much they pay to insure cargo from the #BRICS countries, for which they have to pay a London company to issue a reinsurance certificate for some reason. Everyone counts their money—this is a lot of money and a major expense for all Global South nations. That’s why the initiative to create an international reinsurance capacity has received such a positive response," Chebeskov explained.

#NEWS #finance

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CBDC Development in the Countries that Joined BRICS in 2024. Part 2

The world is currently witnessing the emergence of a new multipolar global order, where a significant role is played by the group of major developing nations within the expanded BRICS.

Since 2024, 🕊🕊🕊🕊🕊 comprises ten member countries: Russia, Brazil, India, China, South Africa, the UAE, Iran, Ethiopia, Egypt, and Indonesia (Saudi Arabia still has unclear status). Additionally, there are ten BRICS partner states: Belarus, Cuba, Kazakhstan, Malaysia, Thailand, Uganda, Nigeria, Vietnam, Uzbekistan, and Bolivia.

The economies of the BRICS countries exhibit stability and are poised to exert considerable influence over a significant portion of the global economy in the years to come. By the end of 🕊🕊🕊🕊, the combined share of BRICS countries—including partner nations—in the global GPD (purchasing power parity) reached an unprecedented 41%, surpassing the share of G7 that stood at 30%.

📎 Read more in our new article by Victor Dostov, Chairman of the Board of the Russian Electronic Money and Remittance Association, expert of the BRICS Expert Council-Russia.

More #BRICS analytics is available on the official website of the BRICS Expert Council-Russia.

#ANALYTICS #BRICSExpertCouncilRussia #BRICSExpertCouncil

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📊 Sustainable Business Development in BRICS

HSE University launches a university-wide elective course, “Sustainable Business Development in BRICS,” designed to familiarise students with sustainable business practices within the group and the role of socially responsible entrepreneurship in today’s global economy. The course will explore two major trends: the Turn to the East and sustainable business development across the #BRICS nations.

Participants will examine the national characteristics of sustainable business in the BRICS countries, review contemporary national and international rankings in this field, and learn about the unique aspects of government policies that promote socially responsible entrepreneurship in each BRICS member state.

📎 Find more details about the elective on the website

#NEWS #business

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