In this week’s round-up:
- BRICS trade reaches $1.2 trillion as members push economic integration
- The dollar debate shifts from replacement to reducing dependence
- Fashion becomes an unexpected BRICS economic story
- BRICS’ creative economy gets more attention
BRICS trade reaches $1.2 trillion as members push economic integration
Andrei Guryev, head of the Russian section of the BRICS Business Council, said intra-BRICS trade reached $1.2 trillion. He stated that mutual trade within BRICS doubled over the past five years.
The dollar debate shifts from replacement to reducing dependence
BRICS aims to reduce reliance on the US dollar by facilitating trade settlements in member countries’ own currencies.
BRICS has expanded to 11 members plus partner countries, making local-currency settlement a visible part of de-dollarisation.
Fashion becomes an unexpected BRICS economic story
Paris and Milan may still command the global fashion spotlight, but designers and fashion brands from emerging markets are increasingly seeking a bigger share of the stage.
The fourth annual BRICS+ Fashion Summit, held in Moscow from Sep 28 to 30, brought together fashion industry players from more than 60 countries.
BRICS’ creative economy gets more attention
The creative economy is emerging as a potential area of cross-border investment and economic cooperation among BRICS+ countries.
Creative industries are increasingly contributing to innovation, employment, exports, and urban development, according to a TV BRICS study.
