BRICS BUSINESS COUNCIL MEETING, SHANGHAI
The BRICS Business Council has been playing an active role in enhancing trade and investment ties through deeper and continuous engagements at the business levels. As we complete the first cycle of the BRICS Business Council, I can proudly say that we have not only expanded our areas of co-operation but also moved from 'conceptualisation' to 'implementation'.
We have also made significant progress in the work towards BRICS Rating Agency and we now need to collectively focus and lend complete support to enable implementation of this initiative. It is extremely important for our countries because this project will not only help in addressing the weaknesses of the existing rating framework but also give a better assessment of credit risk to an investor considering the nuances of emerging markets
1 September 2017
BRICS BUSINESS COUNCIL MIDTERM MEETING
It is heartening to see that several proposals tabled by the BRICS Business Council at the Summit [2016 in Goa] have received credence by government authorities and some of these were even endorsed in the Goa Declaration, including the proposals on bilateral Social Security Agreements and the idea of a BRICS Rating Agency.
Taking forward from the Goa declaration, just two weeks back, the negotiations for the first bilateral Social Security Agreement amongst BRICS nations were officially concluded between India and Brazil. The agreement is expected to be in force by early 2018.... This is the first step and I am sure more such agreements amongst BRICS will follow.
31 March 2017, Delhi
BRICS BUSINESS COUNCIL
The BRICS Business Council was established during the Fifth BRICS Summit held on 26th - 27th March 2013 in Durban, South Africa. The objective of creating the council was to constitute a platform which will:
- Promote and strengthen business, trade and investment ties amongst the business communities of the five BRICS countries;
- Ensure that there is regular dialogue between the business communities of the BRICS nations and the Governments of the BRICS countries; and
- Identify problems and bottlenecks to ensure greater economic, trade and investment ties amongst the BRICS countries and recommend solutions accordingly.
BRICS Business Council Working Groups
Seven working groups in the areas of Infrastructure, Manufacturing, Financial Services, Energy & Green Economy, Skills Development, Agribusiness and Deregulation have been formed under the aegis of the BRICS Business Council.
The main objectives of these Working Groups are to facilitate interaction amongst businesses with a view to better understand the market opportunities and build synergies based on their respective competitive strengths and to promote industrial development and job creation.Read More..
News & Announcements
- Dec 18, 2017 FinMin shows strong macro-economic fundamentals, reforms for sustained growth in 2017
- Nov 28, 2017 The Fifth BRICS Sherpa Meeting Successfully Held
- Nov 28, 2017 Russia to launch ‘independent internet’ for BRICS nations - report
- Nov 23, 2017 IIT-Bombay breaks into Top 10 BRICS list at 9th position
- Nov 21, 2017 Brics Bank approves $400 million loans for India, Russia
- Oct 31, 2017 India jumps to 100th spot on World Bank's Ease of Doing Business list
- Oct 21, 2017 BRICS New Development Bank approves two new loans