630 companies gather for the BRICS Business Forum

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The BRICS Business Forum is receiving greater attention from across the world as the five-nation bloc enters its second decade.

The BRICS Business Forum, which is organized by the China Council for the Promotion of International Trade, will be held on September 3-4.

Chinese President Xi Jinping will attend and deliver a speech at the opening ceremony. The scale of the meeting will reach a new height this year, according to a press conference held ahead of the forum.

CCPIT, the organizer of the BRICS Business Forum, holds a press conference on the coming event. /CGTN Photo

"Not only will Chinese President Xi Jinping deliver a keynote speech, heads of states from Brazil, South Africa, Egypt and Guinea will also attend the opening ceremony and join the discussion. This is a first for the business forum,” said Jiang Zhengwei, chairman of the China Council for the Promotion of International Trade.

A total of 630 companies from 25 countries representing various industries will attend the forum. Among them 80 are global Fortune 500 companies.

Officials said representatives will talk about four major issues.

First, facilitating trade and investment, and opposing protectionism. Businesses from BRICS should better utilize existing trade and investment deals to foster more business.

CGTN Photo

Second, financial cooperation, which provides underlying support for trade and investment. Businesses in BRICS countries should explore and utilize financial resources from each other’s markets.

Third, enhancing connectivity among countries, which means cooperating in not only building more roads, railways and power stations, but also areas like making business trips among BRICS more convenient.

Fourth, blue economy or ocean economy. Since all BRICS countries border the ocean, China aims to promote the development of maritime industries, from transportation, energy cultivation to shipbuilding.

"While governments create a global trade environment by making trade rules, laws and regulations, businesses from around the world are players in this system and contributors to growth. We hope businesses can form constructive relationships with governments by actively providing practical suggestions,” said Jiang.

Through policy suggestions, officials hope the forum can be a strong platform for businesses and governments to jointly build a more inclusive global economy.

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