KUALA LUMPUR, Sept 12 — The BRICS Business Council has called for stronger practical cooperation among member countries, with greater emphasis on trade, investment, innovation and economic connectivity, according to TV BRICS.
The call was made during a council meeting in New Delhi, where members reviewed the outcomes of work carried out under India’s BRICS Chairship and approved its annual report.
The report, which outlines priorities for future cooperation, will be presented to BRICS leaders at the summit scheduled for Sept 13, TV BRICS reported.
Chair of the Indian Chapter of the BRICS Business Council Jai Shroff said the council’s working groups had focused on strengthening trade and investment, supply chain resilience and technology, as well as cooperation in infrastructure, agriculture, energy, finance, aviation and industry.
“For me, the most useful outcome of these years has been the better understanding of the capabilities that exist across our countries. There has been a great deal we can offer one another,” he said.
Shroff said BRICS countries should identify areas with clear business potential rather than seek to establish identical systems and approaches.
“We can identify areas where there is a clear business case for cooperation and make it easier for our companies to work together,” he said, stressing that the priorities of resilience, innovation, cooperation and sustainability should translate into practical initiatives.
Chair of the Chinese Chapter Liao Lin proposed four key areas for future work, including implementing the outcomes of India’s chairmanship, expanding trade and economic cooperation, developing new sources of growth through innovation and artificial intelligence, and strengthening production and investment links.
He also called for greater use of national currencies in settlements and urged BRICS members to expand cooperation with countries of the Global South.
Meanwhile, Chair of the Russian Chapter Andrey Guryev said regulatory differences, customs procedures and product certification requirements remained among the obstacles to deeper economic cooperation.
“Until these obstacles are removed, joint projects will continue to lose efficiency,” he said.
Chair of the Indonesian Chapter Anindya Bakrie said Indonesia was ready to serve as a manufacturing base for Southeast Asia and the global market, identifying food and energy security, critical mineral processing and modern industry as promising areas of cooperation.
He said the success of BRICS business cooperation should be measured through “more trade, more investment, and more partnerships between our companies”.
— BERNAMA
