BRICS Nations Met to Address Trade Barriers
Members gathered in New Delhi to discuss strategies for boosting intra-bloc economic cooperation.
Updated on Sept. 25, 2026 in International Trade
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BRICS nations held a business forum in New Delhi on September 11, 2026, to focus on increasing intra-bloc trade. Officials discussed enhancing economic resilience and established a new framework for customs cooperation.
Why it matters
Member nations aim to strengthen economic ties and improve resilience against rising global protectionism. The bloc is prioritizing the identification and removal of significant trade barriers to facilitate smoother business operations.
China currently accounts for 63% to 70% of South Africa's total BRICS+ trade, while India represents 26% to 27% and Brazil contributes approximately 4%. India has signed free trade agreements with 40 countries since 2014.
The players
BRICS
This is an intergovernmental organization comprising Brazil, Russia, India, China, and South Africa that focuses on economic and political cooperation.
BRICS Business Council
This body represents the business communities of the member nations and works to promote economic growth and trade facilitation.
The details
The BRICS Business Council has been tasked with identifying the top 10 trade barriers among member countries to streamline commerce. Additionally, officials implemented a joint customs enforcement operation and created specific working groups to foster deeper cooperation.
Timeline
September 11, 2026: The BRICS Business Forum took place in New Delhi.
2014: India began entering into free trade agreements with other nations.
Market Dynamics
The forum aligns with broader efforts to formalize trade regulations within the bloc through the BRICS joint customs enforcement operation. This marks a structural evolution in how member states manage regional trade integration compared to previous informal arrangements.
The focus on removing trade barriers could signal reduced operational costs for multinational firms operating across BRICS markets. Investors should monitor whether these customs agreements lead to increased market access and improved logistical efficiency for member-state exports.
The takeaway
The move to reduce trade barriers reflects a strategic effort to insulate member economies from global protectionist shifts. Businesses looking to expand into these markets should prepare for potentially faster customs processes as new working groups begin their operations.
Further reading
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