On November 28, a business session «International Cooperation: the contribution of the BRICS, SCO, and EAEU countries to economic cooperation» was held within the framework of the Forum-Exhibition «Russian Industrialist 2024». The organizer was the Association of Exporters and Importers. The participants discussed new approaches to international trade, financial settlements, logistics and adaptation to global changes.

The moderator of the event, Artur Leer, Vice-President of the Association of Exporters and Importers, Managing partner of the Lex Alliance Law Firm, outlined the key task of the session – broadcasting the experience and solutions that Russian business has gained in the face of sanctions both nationally and internationally. He stressed that it is important to share this experience with the Forum audience in order to stimulate further development.

Among the central topics of discussion were the development of the Northern Sea Route and the use of this route in international logistics. The participants noted its effectiveness, but pointed out the lack of infrastructure. Following the session, it was decided to send recommendations to the government on improving infrastructure and including this task in Arctic development plans.

Evgeny Nikiforov, Chairman of the Association’s Committee on International Logistics, presented data on the growth of trade turnover between Russia and the BRICS countries. In 2023, exports increased by 19 % to 467 million tons, while imports increased by 30 % to 31 million tons. The main groups of imported goods include electronics, spare parts, clothing and cosmetics. The main routes include the Northern Sea Route, rail transportation through China, and multimodal routes through Kazakhstan. However, the speaker noted infrastructure problems, including queues at the borders and limited capacity.

Vladislav Donchenko, Deputy Chairman of the Legal Committee of the association, focused on the difficulties of financial calculations. The sanctions have hampered the work of 66 Russian banks, 10 of which are disconnected from SWIFT. To solve these problems, schemes of assignment, offsets and settlements through third countries are used. An important challenge remains the need to minimize risks when making payments through friendly countries.

During the discussion of financial instruments, the issue of currency risk hedging was also raised, which is considered as an important mechanism for minimizing the impact of exchange rate fluctuations on strategic transactions of participants in foreign economic activity.

Leonid Markovsky, the founder of Nexus Extend, highlighted the import possibilities in detail. Despite the sanctions, European countries continue to supply unauthorized products, and sanctioned goods arrive through third countries. Cooperation with China remains key: trade turnover in 2023 amounted to $240.1 billion. The main export categories include electronics, industrial equipment and spare parts.

Pavel Dolgov, Head of Enframe, spoke about the importance of exhibition activities for business promotion. International exhibitions are becoming not only a tool for finding new markets, but also a platform for strengthening partnerships. Enframe helps Russian companies organize participation in major exhibitions in Turkey, China and the Middle East.

Special attention was paid at the session to the prospects of using cryptocurrencies in international trade. Jan Danko from GrottBjorn financial studio presented approaches to minimizing dependence on SWIFT. Although cryptocurrency settlements have potential, they require caution due to legal risks and limitations.

The session participants came to the conclusion that integration within the framework of BRICS, SCO and EAEU opens up new prospects. Logistics routes and financial mechanisms require adaptation, but they can become a driver of economic growth and expansion of international cooperation.