The BRICS Business Council unveiled 47 private-sector-led initiatives and a comprehensive set of strategic recommendations aimed at accelerating intra-bloc cooperation, according to the Council’s annual report released following its meeting in Rio de Janeiro. Representing an expanded bloc that now accounts for 48.5% of the global population and 39% of global gross domestic product, the private sector roadmap targets critical economic sectors to reshape global trade through sustainable growth.
Agribusiness and Food Security Initiatives
According to the BRICS Business Council’s annual report, the agribusiness sector requires a unified food logistics and storage investment program backed by smart technologies to reduce post-harvest losses. The Council proposes an Integrated Regulatory Framework for Food Security designed to harmonize sanitary and phytosanitary standards for cross-border trade. Additionally, the plan calls for a BRICS regenerative agriculture program supported by green credit markets and tailored funding mechanisms for small-scale farmers transitioning to sustainable farming practices.
Aviation and Transport Infrastructure
The proposals include expedited visa procedures for business travelers and carbon reduction strategies utilizing Sustainable Aviation Fuel, paired with dedicated tax incentives. For broader logistics, the Council urges member states to form a joint infrastructure task force to identify priority corridors, alongside requests for the New Development Bank to create a dedicated infrastructure fund with fast-track project approval processes.
Digital Economy and Financial Services
The digital economy strategy outlines inclusive access and cybersecurity measures for micro, small, and medium-sized enterprises through targeted digital infrastructure investments in underserved regions, according to the Council’s findings. Public-private partnerships are recommended to advance artificial intelligence deployment across health, education, and agriculture, alongside secure digital trade channels and integrated customs systems. In financial services, the Council prioritizes inclusive access to development and trade finance, harmonization of sustainable finance taxonomies for green bonds, and enhanced risk mitigation tools to attract long-term capital.
Energy Transition and Circular Economy
Addressing energy and climate priorities, the Council advocates for a coordinated BRICS renewable energy strategy featuring joint investments in infrastructure and clean energy research and development. According to the strategic report, a unified clean energy regulatory framework would harmonize sustainability criteria and certification processes across member countries. This aligns with a proposed harmonized circular economy policy aimed at driving resource efficiency in urban and industrial environments through green financing incentives.
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