Economic Cooperation

There are rapidly growing trade and investment flows between BRICS countries as well as economic cooperation activities across a range of sectors.

The Xiamen Summit in 2017 saw the conclusion of four new agreements in the areas of Economic and Trade Cooperation; Innovation Cooperation, Customs Cooperation; strategic cooperation between the BRICS Business Council and the New Development Bank. These agreements contribute to and support the realisation of the shared objectives that the BRICS Leaders committed to in 2015 under the auspices of the BRICS Economic Partnership Strategy, which is aimed at deepening economic cooperation and fostering integrated trade and investment markets.

BRICS members are also part of the G20 and therefore alignment of policies to promote inclusive growth is a priority.