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More than 30 Russian companies to take part in BRICS business forum

More than 30 export oriented Russian companies will take part in the BRICS business forum on inclusive economic growth on July 14 in Fortaleza, Brazil, a day before the grouping's summit, Vice-President of the Russian Chamber of Commerce and Industry (CCI) Georgy Petrov told ITAR-TASS.

"The global economy is still going through hard times, so the five (member) countries' business community will discuss ways of inclusive economic growth," said Petrov. "Regional integration is one of the opportunities, the Customs Union and Eurasian Economic Union for Russia."

Brazil was closely cooperating with other Latin American integration groups such as Mercosur but what such groupings could contribute to wider involvement and better chances for other BRICS countries' companies was still to be discussed at the forum, he added.

BRICS leaders had recently discussed by phone materials on infrastructure, energy and personnel training on a monthly basis, Petrov said, adding the goal was to enable multilateral projects with as many BRICS countries involved as possible.

"We hope a decision will be made in Fortaleza in favor of the BRICS new development bank, as projects, primarily those connected to infrastructure, require hefty financing," Petrov said. "Use of other development banks cannot always be available even for BRICS major companies."

The forum is planned to start with the plenary meeting of the Business Council national representatives, with participation of the CII president Sergei Katyrin, and panel discussions. Speeches of the President of the Republic of Bashkortostan Rustem Khamitov and Director General of the Russian Direct Investment Fund are also on schedule of the summit to be concluded by economics ministers, Russia represented by Deputy Minister of Economic Development Sergei Belyakov.

Russia is expected to delegate companies operating in the sectors of agriculture and foods, transport, infrastructure, mechanical engineering, mining, IT, pharmaceutical, energy and business management.

[Source: Itar Tass, Moscow, 11Jul14]

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