BRICS Business Council Meets in Moscow

The BRICS Business Council held its Annual Meeting in Moscow on 17 October under the chairmanship of Sergey Katyrin, President of the Chamber of Commerce and Industry of the Russian Federation. A welcoming address to the participants was sent by the Russian Prime Minister Mikhail Mishustin.

Katyrin extended his greetings to the representatives of BRICS new member countries and spoke of the important task of creation of working groups in their national chapters, expressing hope the business communities would succeed in fully immersing themselves in joint work this year and elaborating on the results of the BRICS Business Council’s work in 2024.

“In our work, we have sought to remain faithful to the BRICS Business Council agenda and add new initiatives in response to the feedback we’ve received from businesses in our countries, specifically issues related to improving transport and logistics within BRICS, supply lines, and modern logistical arrangements, especially railway networks,” he said

Significant Business Council effort was aimed at exploring a sustainable system of financial settlements, payment services, a mechanism for BRICS credit ratings, and cooperation in the insurance market.

The creation of a unified digital infrastructure within BRICS received special attention, as well as cooperation in the highly relevant issue of artificial intelligence. As in previous years, work continued in agriculture, energy, and professional training.

Meetings of BRICS Business Council working groups and subgroups took place: for Infrastructure, Transport and Logistics, Financial Services, Professional Training, Applied Technology and Innovation, Digital Economy, Trade and Investment, Industrial Cooperation and Aviation, Energy, the Green Economy and Climate, and Agriculture (Agribusiness), with the Russian chapter heads presenting reports.

The meeting wrapped up with the heads of the Business Council’s national chapters signing the Annual Report, which will be presented to the leaders of BRICS countries during the Summit on 22–24 October in Kazan.

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