The Role of Private Companies in BRICS
Introduction to the Russian Union of Industrialists and Entrepreneurs
The Russian Union of Industrialists and Entrepreneurs (RUIE) was established in 1990, with Alexander Shokhin serving as its president since 2005. In 2025, the union will celebrate its 35th anniversary and is responsible for protecting the interests of private-sector industrialists and entrepreneurs in Russia. Maintaining a balance between the private sector and government is one of its main tasks.
The union has more than 130 branches across Russia, with 320,000 industrial and entrepreneurial units as members. Member companies operate in various sectors of the economy, including energy, fuel, machinery, defense, construction, food industries, light and heavy industries, banking, and finance. Approximately 60% of Russia’s GDP is produced by companies under the union, which also has 50 specialized committees to address various corporate issues.
Objectives and Activities of the Union
The union seeks to enhance competitiveness and per-capita revenue of companies, improve workforce performance and empowerment, and promote Russian domestic products abroad. To date, 137 cooperation agreements have been signed with over 50 countries.
The union is a key partner of the Eurasian Economic Union Business Council and supports Russian companies in collaborating with foreign partners and participating in international events and institutions.
International Role and Collaborations
Due to its multifaceted nature, the union can cooperate with international organizations such as the International Labour Organization and the World Entrepreneurs’ Union. Its International Cooperation Committee maintains ongoing dialogue with international entities to strengthen the global presence of Russian businesses.
The union’s working commissions also advocate for the interests of Russian businesses, fostering close interactions with government institutions and facilitating business establishment in Russia.
Collaboration of the Russian Industrialists’ Union with BRICS
Given Russia’s rotating presidency in 2024, the Russian Industrialists’ Union has focused on expanding relations with BRICS and identified multiple areas for cooperation.
Key Areas of Cooperation with BRICS
- Regulating technology-related issues
- Removing barriers to business development, including simplifying licensing and certifications
- Creating a favorable environment for international business activities
- Assisting in finding international partners and counterparts
- Active participation in the BRICS-Russia specialized council
These initiatives have strengthened the role of Russian private companies in BRICS collaborations, increasing their involvement in technological, industrial, and economic projects.