MENA Newswire News Desk: Trade between Moscow and BRICS countries rose by 14.7% in the first half of 2024, marking a significant boost in international commerce. The increase was confirmed by the Mayor of Moscow’s office and reflects efforts to strengthen economic ties between Moscow and its BRICS partners.
Maksim Liksutov, Deputy Mayor of Moscow for Transport, highlighted that Moscow has been proactive in supporting local export-oriented businesses, helping manufacturers connect with new international partners. “Moscow’s export growth underscores the city’s commitment to expanding its global trade network,” he stated.
In the first six months of 2024, trade turnover between Moscow and BRICS nations – Brazil, Russia, India, China, and South Africa- reached record levels, outpacing national averages. While the all-Russian trade growth stood at 5.7% during this period, Moscow achieved a notable 14.7% increase.
Moscow’s robust trade relations with BRICS countries extend across a range of industries, including microelectronics, automotive manufacturing, and railway engineering. The city also offers foreign partners opportunities in agriculture, chemical and pharmaceutical sectors, and aircraft production.
Liksutov emphasized that Moscow’s international cooperation with BRICS countries aims to establish mutually beneficial partnerships in various industrial sectors. He noted that such collaborations are integral to Moscow’s broader strategy for economic development.
This surge in trade reflects Moscow’s long-term efforts to diversify its export base and develop strong business ties with emerging economies. The city’s leadership continues to promote trade initiatives designed to support sustainable growth. As the second half of 2024 progresses, Moscow’s ongoing efforts to deepen its ties with BRICS nations are expected to further boost trade and economic cooperation.