Russia’s BRICS Chairship Results on Trade and Economic Track to be Summed Up in Moscow

A series of meetings will be held in Moscow on 24–26 July 2024 to discuss the results of cooperation on trade and economic track during Russia’s BRICS Chairship.

On 24 July, the Ministry of Economic Development of the Russian Federation, in cooperation with the All-Russian Academy of Foreign Trade, will hold a scientific and practical conference entitled “BRICS Partnership for the Development of the Digital Economy: Prospects for Seamless Cross-Border Interaction”. The event will be a platform for representatives of the public sector, business, and academia to come together to discuss the issues at the intersection of the trade and economic and technological development agendas of the BRICS countries.

The conference will include three sessions dedicated to the role of artificial intelligence in promoting trade and investment cooperation, developing e-commerce, and ensuring consumer protection, the synergy of digital and space technologies to achieve the Sustainable Development Goals.

On 24–25 July, the BRICS Contact Group for Economic and Trade Issues is set to meet. Participants will hold negotiations on key issues of mutual interest and draft joint documents to be adopted by the heads of delegations.

26 July will see two ministerial meetings: the 14th BRICS Economic and Trade Ministers’ Meeting and a round table discussion entitled “The Place of BRICS in the New Architecture of the International Economic System”. The Russian delegation will be headed by the Minister of Economic Development of the Russian Federation Maxim Reshetnikov.

As part of the BRICS Economic and Trade Ministers’ Meeting, the parties will discuss the current status of – and the prospects for establishing further – cooperation in the following areas: increasing the sustainability of value and supply chains; agricultural trade; the implementation of AI technologies in trade and investment; consumer rights protection in e-commerce; support for SMEs; and interaction through special economic zones.

At the round table, participants are expected to exchange views on the prospects for strengthening the global influence of BRICS in shaping the rules of world trade, as well as on potential areas of multilateral coordination. During their speeches, the parties will discuss the agenda for maintaining and strengthening the multilateral trading system with the central role of the WTO, and identify priority negotiation tracks.

The series of events will culminate with the adoption of a joint ministerial statement, and the results of cooperation on trade and economic track will be presented at a press conference.

The Roscongress Foundation manages the events of Russia’s BRICS Chairship.

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