Bold BRICS Expo Proposal Could Unlock New Trade
Bold BRICS Expo Proposal Could Unlock New Trade
Iran has proposed a rotating BRICS Expo that would move among member countries, giving companies a recurring venue to present products, meet potential partners and explore joint investments. The idea could strengthen business links across the bloc, but it remains a proposal rather than an approved BRICS initiative.
Mohammad Sadeq Mofatteh, Iran’s deputy minister of industry, mine and trade for commercial affairs, introduced the plan at the BRICS Trade Ministers’ Meeting in Jaipur, India, on August 7, 2026. BRICS Expo proposal
What Iran is proposing
Under the BRICS Expo proposal, member countries would take turns hosting a periodic trade exhibition. The event would be designed to connect private-sector leaders, showcase each economy’s commercial strengths and create opportunities for joint ventures.
Iran presented the expo as one part of a wider push to reduce trade barriers, improve market access and give businesses a larger role in economic cooperation. Mofatteh also called for greater use of national currencies in cross-border settlements.
Tehran says it could contribute through its location, transport links and capabilities in energy, mining, petrochemicals, agriculture and technical services. Those claims describe Iran’s proposed role; they do not amount to commitments from the other BRICS members.
Why a rotating expo could matter
A rotating format could distribute hosting opportunities across the bloc instead of concentrating activity in one market. For smaller companies, an official recurring event could make it easier to identify buyers, suppliers and investment partners in countries where they have limited contacts.
The concept also fits parts of the broader agenda discussed in Jaipur. Reporting on the meeting’s published outcomes points to work on trade finance for micro, small and medium-sized enterprises, the internationalisation of MSMEs, stronger global value chains and easier cross-border delivery of digital services.
India’s public account says ministers adopted a Chair’s Statement and an Outcome Document with four annexes. It also lists the Jaipur Consensus on MSME finance, principles for assessing export-oriented small businesses and a 2026–2030 action plan for global value chains.
The BRICS Expo proposal was not identified among those formal outcomes. Any claim that the expo has already been approved, scheduled or funded would therefore go beyond the available evidence.
The proposal still faces practical tests
Turning the idea into a functioning multilateral event would require agreement on host rotation, frequency, participation rules, financing and sector priorities. Members would also need to decide how businesses are selected and how commercial results are measured.
Payments and logistics may be more difficult than staging exhibition booths. Customs procedures, product standards, visas, transport links and settlement arrangements vary across the ten BRICS economies. Greater use of national currencies, another Iranian priority, would require workable banking channels and risk-management rules.
There is also a diplomatic constraint. The Emirates News Agency reported on August 8 that trade ministers did not reach consensus on a joint declaration after the Jaipur meeting. That does not contradict India’s account of a Chair’s Statement and outcome documents: a chair’s statement can record proceedings without representing a unanimously agreed joint declaration. It does, however, show why new bloc-wide initiatives may require further negotiation.
What happens next
The immediate test is whether another BRICS government publicly supports the expo and whether the proposal enters a future working document. Details such as a first host, timetable or organising body would be stronger evidence that the idea is moving toward implementation.
Until then, the BRICS Expo proposal is best understood as an Iranian initiative aligned with the bloc’s trade and investment discussions—not as a confirmed event. Its commercial value will depend on whether members turn a broad exhibition concept into a platform that produces verifiable contracts, financing and lasting business relationships.
Key questions
Has BRICS approved the rotating expo?
No approval was identified in the publicly reported outcomes of the August 7 trade ministers’ meeting. Iran proposed the idea, but no host, date, budget or implementation body has been announced.
Who proposed the BRICS Expo?
Mohammad Sadeq Mofatteh, Iran’s deputy minister of industry, mine and trade for commercial affairs, presented the proposal at the 2026 BRICS Trade Ministers’ Meeting in Jaipur.
What would the expo aim to do?
Its stated goals are to showcase member economies, connect business leaders and encourage trade and joint investment across BRICS markets.
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