On November 14, 2019, in Brasilia, the establishment of the BRICS Women's Business Alliance was included in the Brasilia Declaration.
"We welcome the establishment of the BRICS Women Business Alliance (WBA), which aims at increasing the role of women as drivers of economic growth, contributing to the economic empowerment of women in our countries and bringing a distinctive perspective on issues of interest for the BRICS business community. The WBA's agenda, working methods and other matters related to its functioning will be determined by its members. We look forward to the selection of five members per country and the holding of the first meeting of the WBA to take place as early as possible in 2020", - stated in the Declaration.
The Alliance areas of cooperation may include, but not limited to, digital development, healthcare, tourism and hospitality industry, food processing, creative economy, etc.
Every national part of the Alliance will comprise five representatives per each BRICS country, who have founded their own business or are CEOs of large enterprises, overcame the main barriers and currently aim at entering international markets.
As operational basis of the Alliance it is also proposed to use working groups to launch initiatives of the BRICS Women's Business Alliance.
The goals of the BRICS WBA include not only the promotion of women's entrepreneurship in the BRICS countries, but also the inclusion of women's business in global value chains, as well as the establishment of its international cooperation.
It is also worth noting that the BRICS Women's Business Alliance and the BRICS Business Council will actively and closely cooperate in order to increase the participation of women in the economic processes of the five BRICS countries.