Noting that the true strength of BRICS is not confined merely to the size of its members’ economics but becomes more apparent when these capacities are transformed into a network of trade, investment and joint financing, Iranian President Masoud Pezeshkian on Friday called for “a transition from potential cooperation to operational one”.
Speaking at the Leaders’ Session of BRICS Business Forum, Masoud Pezeshkian said the world today is going through one of its most complex periods and disruption in supply chains and the increasing use of economic instruments to exert political pressure have made economic environment more complex. In his remarks at Leaders’ Session of BRICS Business Forum, Union Minister for Commerce and Industry Piyush Goyal said the merchandise exports from BRICS countries to the world increased from about 900 billion dollars in 2003 to nearly 6 trillion dollars in 2024. He said with over 2000 business leaders and delegates from member countries and partners gathered here today, this is the largest BRICS Business Forum ever held.
“We believe that the true strength of BRICS is not confined merely to the size of its members’ economics rather it becomes more apparant when these capacities are transformed into a network of trade, investment and joint financing – a transition from potential cooperation to operational one,” he added.
The BRICS Business Forum meeting was held a day before the formal opening of the BRICS Summit in New Delhi.
“The Forum has taken up issues such as non-tariff barriers, impacting global value chains, agriculture and agri-technology, services trade, women-led enterprises and the digital economy. The BRICS Business Council has completed its annual report with over 44 recommendations. The BRICS Women’s Business Alliance met over the last 2 days and has set the path for a greater role for women-led businesses across BRICS countries.”
