Shandong hosts the “Dialogue with BRICS” to discuss the “Shandong Model” of BRICS trade cooperation

JINAN, China, Nov. 20, 2024 (GLOBE NEWSWIRE) — “Dialogue with BRICS – Shandong Enterprise Innovation and Development” conference was held in Jinan on November 14th hosted by the Shandong Subcommittee of the Chinese Council for the Promotion of International Trade. Under the theme “Together for Common Development”, the event brought together representatives from embassies, trade associations and the business community from more than ten countries, including the Arab United Emirates, Egypt, Saudi Arabia and Brazil, to focus on pragmatic cooperation and to jointly explore the “Shandong model” of local economic and trade cooperation with the BRICS countries. The aim of this initiative is to deepen and make more substantial trade relations between Shandong Province and the BRICS countries. A new framework for regular cooperation with the business community of the BRICS countries is to be gradually created.

A media snippet of this announcement is available by clicking this link.

Jim O’Neill, former British finance minister, former chief economist at Goldman Sachs and founder of the term “BRICS,” delivered a video message. Keynote speeches were given by Jean Felipe Celestino Gouhie, Chief Representative of the Brazilian Ministry of Agriculture, Livestock and Food Supply (MAPA) in China, Abdulla Albasha Alnoaimi, Trade Advisor of the Embassy of the United Arab Emirates in China and Representative of the Ministry of Economy of the United Arab Emirates, and Jalaluddin bin Alias, senior member of Malaysia’s Negeri Sembilan State Executive Council (EXCO).

During the thematic presentations, Meng Xiangdong, Chairman of the China Council for the Promotion of International Trade Shandong Sub-council, highlighted new opportunities for high-quality development in Shandong Province. Participants discussed topics such as digital industry transformation, artificial intelligence, digital banking and currencies, and cross-border payments.

The event also includes one-on-one business matchmaking sessions focusing on industries such as international trade, cross-border e-commerce, logistics and warehousing, food processing, financial trusts, biotechnology and manufacturing machinery. More than 150 companies from China and abroad participated in targeted matchmaking discussions.

The BRICS cooperation mechanism offers emerging and developing countries an important platform for strengthening unity and safeguarding common interests. On January 1, 2024, the BRICS cooperation mechanism was expanded to ten member countries. The BRICS countries currently account for over a fifth of world trade. In the first three quarters of this year, Shandong’s trade with the other nine BRICS countries totaled 449.32 billion yuan, accounting for 18.1 percent of the province’s total trade value.

Source: Sub-council of the China Council for the Promotion of International Trade, Shandong

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