Participants of BRICSonomics 2024 forum at Russian university discuss development ways of BRICS countries

The BRICSonomics 2024 forum organised by the Makarenko Economic Club OECONOMICUS took place at the Moscow State Institute of International Relations (MGIMO). The event was dedicated to the prospects and the most pressing economic problems of the BRICS member countries.

The forum was inaugurated with a plenary session featuring speeches by Elena Zinovieva, Professor of the Department of World Political Processes at MGIMO, Evgeny Kapoguzov, Head of the BRICS Economics Research Laboratory at Lomonosov Moscow State University, Anna Lisina, Editor-in-Chief of the multilingual TV BRICS platform, and others. The session was moderated by Arina Kolyadina, a 3rd year student of the Faculty of International Economic Relations.

The speakers considered such topics as the economic potential, digitalisation and digital sovereignty of the group, expanding the influence of the association on current geopolitical processes. They discussed media coverage of the member countries' activities and the role of youth in promoting BRICS in the international arena. The participants noted the growing interest in BRICS, including in Russia, taking into account that 2024 is the year of Russia's presidency in the association.

“The main result of the plenary session, in addition to introducing the participating students to the actual discussion, is, in my opinion, the establishment of contacts and the search for areas of interaction. No less significant was the active brainstorming during the debates, in the process of which those present were able to both express their position and compare it with the arguments of experts, to gain new knowledge and skills of reasoned scientific discussion. It would be logical to introduce such practices into the programme of universities and student communities of all BRICS+ countries, as they contribute to the growth of human and social capital of the participants,” said Evgeny Kapoguzov in an exclusive commentary for TV BRICS.

The work of the forum continued with three thematic sections: "Introduction of a single currency for BRICS countries", "Economic feasibility of BRICS expansion", "Attracting investments to BRICS countries". A special feature of the event was the debate format in which the first two sections were held.

“There is no doubt that the entry of new members into the association (Ethiopia, Egypt, Iran, Saudi Arabia and UAE) opens up a number of new opportunities for BRICS as all these countries are strategically located geographically. The states have tasked their economy ministers and central bank governors to come up with new ways of trading with each other. The creation of a new benchmark currency, which could be digital, for the resource-rich BRICS countries could be a step forward,” said Henrique Domingues, International Relations Advisor of the BRICS IMF Forum Chairmanship, a participant from Brazil, in an exclusive commentary to TV BRICS.

The participants of the third section were able to prove themselves in an investment game dedicated to the development of agro-industrial complexes of the BRICS countries. The experts emphasised that the lively format of the sections allowed the participants not only to immerse themselves in the topics of the group, but also to improve the quality of their public speeches.