India and Egypt have become the drivers of trade and economic cooperation between Moscow and the BRICS countries in the first seven months of 2024. The member states account for about 22 per cent of Moscow’s non-resource and non-energy exports to friendly countries, as said by Maxim Liksutov, Deputy Moscow Mayor for Transport and Industry.
For example, China, one of the key partners, imports about 32 per cent of non-resource and non-energy products supplied to the BRICS countries. Egypt’s share is 23 per cent, while India’s share is 16 per cent. Meanwhile, Brazil and Saudi Arabia account for 12 and 10 per cent, respectively.
For the same period, manufacturing exports to India have increased by 5 per cent. Currently, they account for about 94 per cent of all Moscow’s non-resource and non-energy exports to the country. The export cooperation is driven by the engineering sector. Moscow-based companies have increased their supplies of instrument-making products, electrical devices and automation systems to India by almost a quarter.
Since 2022, thanks to, among other things, support provided by the Mosprom Center, Moscow’s exporters of non-resource and non-energy products have reoriented their exports and found new partners in Latin America, Africa, the Middle East, Southeast Asia and other CIS countries.
Moscow exporters are backed by the government. The My Export digital platform providing assistance to entrepreneurs is part of the International Cooperation and Export national project. Users can seek free expert advice and analytical data, promote their products on international marketplaces and enjoy online training.