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BRICS: the new development trends in the import and export relations

21 September 2018 in the fields of the II Eurasian forum will take place presentation of new forms of economic cooperation in the framework of the project “Business women’s Alliance of the BRICS”, the main theme of which is the implementation of the international women’s entrepreneurship dialogue as an additional driver of the development of the import and export relations between the members of the Association.

The forum is held in Saint-Petersburg and defines the role of “soft power” to deepen the processes of financial and economic integration of the partner countries of BRICS. It should be recalled that the idea of the women’s business meeting under the aegis of the Association was announced in 2017 in Novosibirsk.

Today the participants of “Business women’s Alliance of the BRICS” will discuss a broad spectrum of areas, among which are the following: the creation of the Declaration of the WTO regarding the empowerment of women in trade, the elimination of entry barriers for women-businessmen in export and import of women’s participation in digital trade and the promotion of domestic brands in the international markets.

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The very BRICS began its work in 2009: ten years of successful cooperation between the Russian Federation, Brazil, India, China and South Africa countries have managed to achieve tremendous success in the creation, testing and actual application of an alternative economy. Cooperation within the Union, which is actually 43% of the world population, have identified a natural distance from the United States, previously positioned as the center of interaction between high-tech and manufacturing companies.

The next step in the formation of the BRICS was the establishment of its banking system: 2014 began operating the “New development Bank” (NDB), with headquarters in South Africa. Its main task is the financing of complex infrastructure projects. Only from 2016 were approved 26 projects totaling more than $ 6.5 billion. It is noted that in 2021, the amount of funds allocated to the countries of the Association of similarities, can vary from 32 to 44 billion dollars.

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NBI actively develops the blockchain and calculate in national currencies, thereby arresting the circulation is highly unstable dollar in the BRICS countries. In the second half of 2019 it is planned to issue ruble-denominated loans to domestic companies, that will provide new unique opportunities for investors, importers and exporters and will determine the unique technology of infrastructure financing in the long term.

BRICS is actively developed and provides a good alternative to Western markets at the expense of de-dollarization, comprehensive involvement in cryptosphere and the digital economy. Association steadily gaining momentum and represents an important reputational tool of the Russian Federation on global financial and commodity markets around the world, greatly reducing the pressure of the artificial economic restrictions of the United States in the form of sanctions.

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