27 March 2018
Russia expects proposals aimed at removing excessively complex administrative barriers within BRCIS to be prepared by the Business Council by the next summit in South Africa scheduled for July 2018, President of the Russian Chamber of Commerce and Industry Sergey Katyrin, who heads the Russian delegation, said at a meeting of the BRCIS Business Council in Shanghai on Tuesday.
“One of the main tasks of the Business Council is to identify problems and difficulties, which hinder growth of economic, trade, business and investment cooperation between BRICS countries, as well as to prepare proposals and recommendations on measures to trigger it,” he said.
The initiative was discussed at the meeting of the working group on deregulation earlier on Tuesday, Katyrin said. “Hopefully, all colleagues will support the initiative and we will be able to come up with a roadmap already at the upcoming BRICS summit in South Africa in July this year,” he said, adding that this document will substantially facilitate the trade and economic cooperation between BRICS member-states, which has been lagging behind its potential despite positive dynamics in recent years.
The BRICS Business Council, the key mechanism for promotion of business cooperation between member-states, was established during the 5th BRICS Summit held in March 2013 in Durban, South Africa. In includes five representatives from each country. Its task is to identify problems and bottlenecks to ensure greater economic, trade and investment ties amongst the BRICS countries and recommend solutions accordingly. Seven working groups in the areas of Infrastructure, Manufacturing, Financial Services, Energy & Green Economy, Skills Development, Agribusiness and Deregulation operate under the aegis of the BRICS Business Council.