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SMEs Development in BRICS and SCO Member States

02 / 12 ‘16

1-2 December 2016 the 2nd Forum on Small Business of the SCO and BRICS Regions was held in Ufa, Republic of Bashkortostan (Russia).

The event brought together more than 1,000 delegates representing 34 subjects of the Russian Federation and 15 foreign states. President of the Republic of Bashkortostan Rustem Khamitov, deputy minister of economic development of Russia Oleg Fomichev, special representative of President of Russia for SCO affairs Bakhtier Khakimov, vice president of Chamber of Commerce and Industry of Russia Elena Dybova, ombudsman of e-trade in Russia, member of the board of OPORA ROSSII Iliia Dimitrov, heads of ministries and other authorities of the Republic of Bashkortostan, representatives of international and national federal and regional institutions supporting entrepreneurship, business development experts were among the guests and speakers of the Forum.

Presentations on financial and infrastructure support for SMEs, prospects of developing a single market in goods and services for the SCO and BRICS, trends related to SMEs’ participation in public procurement, the role of SMEs for non-resource, innovative and science-driven industries development were at the top of the agenda.

Speaking in the plenary session, deputy minister of economic development of Russia, Mr Fomichev, noted that SMEs are an important growth driver for the economies of the SCO and BRICS. Small business is highly adaptive and can create new market segments or fill gaps in the market that do not seem an obvious choice for large companies. «To foster SMEs development one shall address a number of issues, such as reduce the costs of loans, support procurement by large companies from small businesses, modernize tax regulations, improve general legislation in the field», Oleg Fomichev said.

According to ombudsman for e-trade in Russia, member of the board of OPORA ROSSII, Mr Dimitrov, e-commerce has a significant impact on inclusive economic growth, offering new opportunities for SMEs’ participation in global value chains. Russian IT developers have produced a number of innovative solutions for e-business favorably assessed both in the national and international markets. Promotion of Russian IT solutions facilitating SMEs’ access to e-commerce is equally important for fostering our SMEs’ participation in the global markets.

In the closing plenary session head of the Republic of Bashkortostan spoke of the relevance of the Forum for the present-day economy. «During yesterday’s address by the President of the Russian Federation, Vladimir Putin, to the Federal Assembly we heard him emphasize multiple times that a favorable environment for SMEs development shall be created. Creating a favorable environment for SMEs development shall make part of the national policy. SMEs are very important for the nation’s dynamic development», Rustem Khamitov said.

The Forum witnessed several cooperation agreements signed between its participants, and a Resolution of the 2nd Forum on Small Business of the SCO and BRICS Regions was adopted.