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The BRICS Business Forum

  • Posted By
    10Pointer
  • Categories
    International Organisation
  • Published
    2nd Nov, 2020

The BRICS Business council held the forum through video conferencing.

  • The BRICS Business council held the forum through video conferencing.
  • The council was formed in 2013 summit in Durban, to increase trade and investment among the member countries of BRICS.
  • Russia chaired the meet as it is currently holding the rotating leadership of BRICS.
  • One of the main tasks of the council is to update the Strategy for Economic Partnership of BRICS. The plan focuses on business-to-business engagements to create transactions and explore investment opportunities among member countries.
  • During the meet, the council discussed on ways to restore economies of BRICS countries, impact of COVID-19 pandemic on industrial production. Also, the development of women entrepreneurship within BRICS was discussed.
  •  BRICS represents 3.1 billion people. This is about 40% of world population. Also, it contributes 30% of world GDP.
  • New Development bank was established during the fourth BRICS Summit held in New Delhi. The headquarters of the bank is located in Shanghai.

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