Putin proposed to establish direct contact between the SEZ of Russia and the BRICS countries

13:17; 07 November 2024 year

It is necessary to establish direct contact between the special economic zones in the BRICS countries and Russia. This proposal was voiced by Russian President Vladimir Putin, Kommersant reports.

According to Putin, the well-established mechanism of the BRICS SEZs can be used within the framework of trade and industrial cooperation, the development of the manufacturing sector, including high-tech industries, information technology, tourism, port and transport infrastructure, the development and commercialization of new technologies, the production of new types of value-added products.

"Special economic zones provide ample opportunities to stimulate additional investments in priority areas of economic development," Putin said.

Currently, there are over 2.5 thousand SEZs operating in the territories of the BRICS member countries, which is almost 40% of the total global figure. There are 53 SEZs in Russia with more than a hundred residents with foreign capital from 30 countries.

Russian experts also highly appreciate the synergetic potential of economic cooperation between SEZs. Cooperation between them will create additional opportunities for the development of innovations, the introduction of modern technologies, the reduction of the digital divide, and contribute to the entry of business into the global market.

It is assumed that the International Association of Special Economic Zones of the BRICS countries will be established, which will develop common approaches to the implementation of investment projects, building logistics chains, and developing trade, industrial and business cooperation between the SEZs of the participating countries.

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