BRICS size up big opportunities

[unhappycamper]

http://atimes.com/atimes/Global_Economy/GECON-01-160714.html



BRICS size up big opportunities
By Mario Osava
Jul 16, '14

FORTALEZA, Brazil - The growing vitality of the group of countries made up of Brazil, Russia, India, China and South Africa (BRICS), which is beginning to formalize its institutions even as it tries to bridge very disparate realities, seems to be partly cemented by increasing links between its companies. The complementary nature of their economies was highlighted at the BRICS Business Forum on Monday July 14, one of the meetings prior to the sixth annual summit of the five leaders, inaugurated Tuesday July 15 in the northeastern city of Fortaleza and closing on Wednesday in Brasilia.

More than 700 members of the business community participated in the entrepreneurial debates, designed to promote US$3.9 billion worth of contracts in the sectors of agriculture, infrastructure, logistics, information technology, health and energy.

The Business Forum of the BRICS group of emerging powers began its work five years ago.

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Jointly, the BRICS have 46% of the world's population and 26% of its land mass. The BRICS countries' combined gross domestic product, based on purchasing power parity (PPP), is greater than that of the US or the European Union, "so it is natural that they should demand greater participation in decision-making bodies," he told IPS.