The second edition of the BRICS+ forum in Dubai served as a platform to delve into critical macroeconomic issues and explore potential solutions. With a diverse array of topics on the agenda, the gathering attracted over 200 high-level executives, vice-presidents, and legal heads from Russian and BRICS+ member state companies, along with representatives from leading legal and consulting firms.
Abdulla Baqer, the regional director of Middle East and Eurasia at Dubai Chamber, UAE, emphasised the forum’s significance as a global platform for addressing current legal and economic challenges and fostering dialogue on the development of legal infrastructure in BRICS+ regions.
The discussion panels covered a wide spectrum of topics, including:
1. Gulf Cooperation Council (GCC) Doing Business:
This panel provided insights into business development prospects in GCC countries such as the UAE, Saudi Arabia, and Kuwait. Discussions encompassed legal frameworks for business operations, team relocation, taxation considerations, and the role of Islamic Sharia in the legal landscape.
2. Global Expansion:
The session on global expansion explored the BRICS+ as a zone for international economic relations, with a focus on industries such as energy, agriculture, IT, and finance. Speakers from various sectors shared their perspectives on international development strategies and business needs.
3. BRICS+ Business Partnership — Brazil:
This session delved into business opportunities in Brazil within the BRICS+ framework. Topics included investment prospects, legal considerations, and partnerships in sectors like mining, innovation, and finance.
4. International Arbitration, IP, Best Practices:
Parallel round-table discussions addressed topics such as international arbitration challenges, intellectual property rights, and legal practices in the BRICS+ zone. Participants shared insights and best practices to navigate complex legal realities and business issues, including sanctions.
The forum also highlighted the growing influence of BRICS+ with the addition of new members, including the UAE, Saudi Arabia, Egypt, Iran, and Ethiopia. This expansion, doubling the bloc’s membership to 10, positions BRICS+ as a significant player in multilateral trade developments, particularly with the inclusion of top oil producers like the UAE and Saudi Arabia.
