Fair will be held at the BRICS summit

Sergey Katyrin, Russian Trade Chamber. Photo: Russian Trade Chamber press-service

A summit of the BRICS countries (abbr. from Brazil, Russia, India, China and South Africa) that year after year strengthen your Union will take place on October 12-16, 2016 in Goa (India). The meeting will be attended by senior management of the five countries and will discuss a wide range of political, humanitarian and trade-economic issues of cooperation.

So, the President of the Russian Federation Vladimir Putin will talk to colleagues about the fight against terrorism and the situation in Syria and on improving the global system of management, Economics and Finance.

The delegation of the Ministry of economic development of the Russian Federation will discuss the implementation of Strategy for the BRICS economic partnership, as well as the main initiatives of the “five”, including areas of e-Commerce, support to small and medium enterprises in the BRICS countries. The Indian side also suggested to consider non-tariff barriers to trade, standardization and conformity assessment, as well as cooperation among the BRICs countries in the sphere of trade in services.

In addition, the summit will discuss the business interests of the five countries. The President of the chamber of Commerce and industry (RCCI) and Chairman of the Russian part of the BRICS Business Council Sergei Katyrin identified the business issues and economic cooperation as well as joint projects in the framework of BRICS.

The BRICS business Council was established in 2013 and now it includes 5 delegates from each country to coordinate cooperation between them on important business issues. The main issues are follwong: the development of communication between businesses (exhibitions, information, forums etc), elimination of administrative barriers, creation of a unified system of norms and laws. The work already undertaken to facilitate the visa regime for entrepreneurs, now the BRICS Development Bank was created. It started work and the first projects are already funded (in Russia it is two HPS).

Sergei Katyrin noted that the main purpose of the event is the creation of conditions for entrepreneurs in BRICS countries to present their products, to establish business contacts, to find business partners. Here will be held exhibition-fair of the BRICS countries for the first time. The Chairman expressed the wish that such exhibition will move on to BRICS presidencies and become their industry fair. The exhibition also invited, in addition to the BRICS, the neighbors of India.

In the Business part of the summit will be hold debates on the results of the working groups on cooperation and joint renewable of energy projects, various infrastructure projects, agriculture, the organization of work at the regional level and development of cooperation of small and medium business.

Resulting the meeting, the BRICS will sign joint documents and declarations at different levels of the agreements.

Sources: TASS, Russian Ministry of Economy Rossiyskaya gazeta