https://sputniknews.in/20240606/61-of-russian-firms-have-partners-in-brics-nations-7542737.html
61% of Russian Firms Have Partners in BRICS Nations
61% of Russian Firms Have Partners in BRICS Nations
Sputnik India
A majority of large Russian companies have managed to tie up with local firms in BRICS countries, a study presented during the ongoing St. Petersburg International Economic Forum (SPIEF) has found.
2024-06-06T15:50+0530
2024-06-06T15:50+0530
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A majority of large Russian companies have managed to tie up with local firms in BRICS countries, a study presented during the ongoing St. Petersburg International Economic Forum (SPIEF) has found.The study says that at least 61% of Russian firms have a presence in BRICS nations.Among large companies, which employ a minimum of 3,000 workers, the partnership of Russian firms jumps to 80%.On the other hand, 52% of firms reported that they were exporting to BRICS states while 57% mentioned that they were importing from one of the members of the powerful economic bloc.Moreover, Russian businesses have mainly partnered with 63% of companies associated with firms in the automobile manufacturing and industrial production sectors of the group countries.Besides, Russian companies involved in the manufacturing of consumer durables, medical-biological industry, and agribusiness have succeeded in partnering with 53% of firms in BRICS nations.Additionally, partnerships of Russian companies in the domain of technology, and transport have touched 26%, and 16%, respectively.While this figure stands at 11% in the media and communications sector.
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61% of Russian Firms Have Partners in BRICS Nations
Russia has been expanding its base in BRICS nations to increase its economic footprint amid unilateral financial sanctions imposed on Moscow by the West.
A majority of large Russian companies have managed to tie up with local firms in BRICS countries, a study presented during the ongoing St. Petersburg International Economic Forum (SPIEF) has found.
The study says that at least 61% of Russian firms have a presence in BRICS nations.
Among large companies, which employ a minimum of 3,000 workers, the partnership of Russian firms jumps to 80%.
On the other hand, 52% of firms reported that
they were exporting to BRICS states while 57% mentioned that they were importing from one of the members of the powerful economic bloc.
Moreover, Russian businesses have mainly partnered with 63% of companies associated with firms in the automobile manufacturing and industrial production sectors of the group countries.
Besides, Russian companies involved in the manufacturing of consumer durables, medical-biological industry, and agribusiness have succeeded in partnering with 53% of firms in BRICS nations.
Additionally, partnerships of Russian companies in the domain of technology, and transport have
touched 26%, and 16%, respectively.
While this figure stands at 11% in the media and communications sector.
