BRICS Council

The importance of the BRICS Council

The BRICS Business Council was established during the fifth BRICS Summit held on 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.

 

The council works closely with the Working Groups to promote trade and investment opportunities

The main objectives of the 6 established Working Groups is to facilitate interaction amongst businesses with a view to better understand the market opportunities, to build synergies based on their respective competitive strength and to promote manufacturing and job creation. These Working Groups are where investment, trade collaboration and opportunities are established and encouraged to create opportunity and growth amongst the BRICS nations and the Governments of the BRICS countries.

Working Group Reports

“Facing Challenges, Building Confidence” – The 2015-2016 BBC Work Program

  • Creating a favorable business environment
  • Trade in local currencies
  • Facilitating business travel
  • Implementing trade facilitation
  • Regulatory cooperation
  • Promoting cooperation in infrastructure development
  • The New Development Bank
  • Enhancing investment ties
  • Business promotion
  • Recognizing the advisory role of the BBC and establishing dialogues within the governmental structures of the BRICS.