BRIC stands for Brazil, Russia, India and China. These countries are believed to be at a similar stage of economic development and are often referred to as the ‘Big Four’.
It was Jim O’Neill, an economist, who first brought the idea of the BRIC countries to the table. He argued that by 2050, the BRIC countries will be some of the most dominant economies. Between them the countries take up a little over 25% of the world’s land coverage and have 40% of the world’s population. Astoundingly they hold a combined GDP (gross domestic product) of 18.486 trillion dollars.
BRIC-ITT provides online support to European businesses and advices about how to trade successfully with the BRIC markets. BRIC-ITT has 6 EU partners and offers the e-learning suite on their website in 6 different languages.
Why is the project necessary?
The economic climate has had a major impact on the competitiveness and amount of profit European businesses can make. So they have turned to the upcoming markets of Brazil, Russia, India and China to stop their workers going redundant.
BRIC-ITT’s e-Learning suite helps them learn everything they need to know about transport, cultural differences, IPR, marketing techniques, tariffs and trade regulations.
BRIC-IT created a game to raise awareness about trading with international markets. It’s a simulation game where you get the chance to explore different scenarios, in four BRIC markets and create realistic expectations regarding trading with these markets.
BOA have already collaborated with BRIC-ITT to produce a series of videos speaking with business and trade experts from each of the BRIC countries. In the videos the experts basically give the 101 about business abroad, their native country’s traditions and hints and tips. The videos are offered with subtitles in a variety of different language so they can be watched by a wide range of people from all around the world.
BRIC-ITT also have an online presence on Linked in and Twitter, where they post updates about the site and persuade SMEs to write the them with questions etc..