BRICS Industry Ministers’ Meeting in Nizhny Novgorod
The 8th BRICS Industry Ministers’ Meeting recently took place in Nizhny Novgorod, Russia, marking a significant milestone in the BRICS agenda. This meeting saw top industry leaders from around the world converge to discuss the future of global industrial cooperation. The event was held in an expanded format, providing a unique opportunity for constructive dialogue on the international industrial agenda.
The Importance of BRICS Expansion
Russian Minister of Industry and Trade Anton Alikhanov emphasized the significance of BRICS expansion in establishing a new multipolar world order. “The expansion of BRICS is a natural process in the establishment of a new multipolar world order,” Alikhanov stated. Indeed, with BRICS countries accounting for almost 34% of the globe’s territory and over 45% of the world’s population, their collective contribution to global GDP in purchasing power parity has reached 36%, surpassing the G7 countries’ share.
Industrial Cooperation: Key Areas of Focus
BRICS Industry Ministers convened in Nizhny Novgorod, making substantial headway in industrial collaboration. The ministers forged agreements on chemical industry initiatives, pharmaceutical advancements, and medical equipment innovations. Furthermore, they tackled projects in mining, metallurgy, smart manufacturing, and robotics. Meanwhile, the concept of an Industrial Competence Centre, rooted in UNIDO principles, gained traction. Consequently, Russia, China, and India pledged financial support for joint ventures. The high-level gathering underscored the bloc’s commitment to fostering technological progress and economic growth. Notwithstanding challenges, the ministers’ resolve to strengthen inter-BRICS industrial ties remained steadfast. Their deliberations paved the way for future cooperative endeavors in cutting-edge sectors.
Innovative Technologies on Display
Furthermore, the BRICS Forum of Creative Territories and Manufacturers of High-Tech Industrial Products showcased cutting-edge technologies. The exhibition featured the Promobot M13 six-axis collaborative manipulator, the X4+KZ innovative energy-saving transformer, Geropharm insulins, and the latest generation RC10 collaborative robot, among others.
A Commitment to Growth
As the global economy continues to evolve, the 8th BRICS Industry Ministers’ Meeting in Nizhny Novgorod demonstrated the commitment of BRICS nations to fostering industrial cooperation and driving growth in a new multipolar world order. Moreover, the meeting underscored the importance of collective action in addressing global challenges and promoting sustainable development.
In conclusion, the 8th BRICS Industry Ministers’ Meeting marked a significant step forward in promoting industrial cooperation among BRICS nations. As the global economy continues to navigate the complexities of a rapidly changing world, the BRICS partnership remains a vital driver of growth, innovation, and cooperation.
Source: https://brics-russia2024.ru/