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2012-12-08

BRICS to create new platform for information exchange for SMEs

Brazil, Russia, India, China and South Africa (BRICS) have agreed to create data bases of exports and imports, as well as a data base and platform for the exchange of information among their SMEs.

Brazil, Russia, India, China and South Africa (BRICS) have agreed to create data bases of exports and imports, as well as a data base and platform for the exchange of information among their SMEs.

"For SMEs to access information is not that easy, unlike for large corporations that do have the resources to get information," said Amar Sinha, Joint Secretary, Ministry of Commerce, at a forum on "BRICS and a Changing Global Economic Landscape" on Thursday in New Delhi. The meet was organised jointly by OP Jindal Global University, Indian Institute of Foreign Trade and the Getulio Vargas Foundation of Brazil.

"Most of our (BRICS) SMEs are contributing hugely to economic growth and the export market," Sinha added. He also mentioned the "very interesting" Russian proposal for a BRICS technology platform to take technology from the laboratory to the factory for its successful commercialisation.

The group had also earlier in the same week agreed to build a platform for creating opportunities for exchange of technologies that would also serve for exchange of experiences and good practices for enterprise among themselves.

"We can only change the international economic governance structure through joint action and discussions are on about setting up the BRICS Development Bank," said Paolo Estivallent de Mesquita, Director, Department of Economic Affairs, Brazil stressing their aim of reforming the global financial institutions.

"BRICS is turning into a reality and has emerged as a serious forum for emerging economies. It has led to us being invited to be part of the G-20 nations group," said Sinha.

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