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Tuesday, June 11, 2024
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BRICS gathers discussion on digital economic framework

Now, the alliance has gathered in Geneva for a meeting to discuss key elements of the growing digital economy. According to a press release, the talks will focus on needed infrastructure and are described as a “preparatory phase” for the evolving economic reform.

BRICS meet to discuss digital economy framework

For much of last year, the BRICS economic alliance developed its own economic alternatives. Since the imposition of sanctions in 2022, the bloc has sought to carve an independent path for global economic players. This means both implementing anti-dollarization efforts and establishing local economic measures.

That has now culminated in the imminent arrival of the BRICS independent payments system. Following this, the BRICS group is now meeting to discuss its digital economy framework in a meeting seen as crucial for the development of the industry.

The meeting took place in Geneva, Switzerland, with the BRICS Competition Law and Policy Center leading discussions on economic digitalization and the necessary legal framework. Furthermore, this event also has the participation of many alliance countries.

One of the main discussion points of the meeting was the issue of antitrust regulation. Specifically, discussions revolved around both economic activity in participating countries and collectives such as BRICS. The discourse present at the meeting was a clear description of the growing cooperation between BRICS countries.

Although the alliance has been around since 2001, they have increased their cooperation. Furthermore, this meeting is essential as they begin to develop guidelines and standards that all countries will adhere to.

Furthermore, this is another signal that the digitalized BRICS economic system is approaching. After that, all eyes will be on the upcoming 2024 Annual Summit. There, many expect important announcements with geopolitical implications, with many predicting the possibility of launching the BRICS native currency.

Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.
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