Economic Partnership Strategy 2025 Prepared with VEB.RF’s Participation to Receive Approval at BRICS Summit in Saint Petersburg in July

A meeting of the BRICS Contact Group on Economic and Trade Issues in Moscow on 26 February supported VEB.RF’s proposals for the Strategy for BRICS Economic Partnership. It is intended that the proposals will be submitted to the BRICS leaders at the Saint Petersburg summit in July 2020.

Zarina Tsekoeva, Vice-President of Strategy, reported to the meeting on these activities and VEB.RF’s contribution to the implementation of national projects in Russia.

In her report on the principal areas of economic cooperation among the BRICS member countries, Tsekoeva drew attention to the issues related to the Sustainable Development Goals, the principles of responsible investment, the agenda for the presidency of the BRICS Inter-Bank Cooperation Mechanism, and the necessity for the BRICS member countries to take part in formulating the common principles of responsible investment.

The report of the Russian Ministry of Economic Development put particular emphasis on digital transformation and sustainable development, including in respect of remote and rural areas. In addition, representatives of Global Rus Trade reported on the establishment of the BRICS Business Women Alliance; research experts and members of the BRICS Expert Council presented a review of BRICS trade relations, noted the importance of supporting infrastructural projects of the New Development Bank, and emphasised the need to work towards the UN Sustainable Development Goals 2030.

VEB.RF holds the presidency of the BRICS Inter-Bank Cooperation Mechanism in 2020.

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