The multilateral trade system with like-minded non-BRICS members will also be strengthened to promote the forming of a sound trade environment conducive to development.BRICS is an acronym for five emerging economies — Brazil, Russia, India, China, and South Africa.
BEIJING, Aug. 8 (Xinhua) — China’s Ministry of Commerce (MOC) said Tuesday that BRICS ministers of trade and economy reached a consensus and achieved significant results at a recent ministerial meeting.
At the video conference on Monday, the ministers agreed to expand cooperation in the digital economy and green development and make joint efforts to promote a stable supply chain and support micro, small, and medium-sized enterprises, an MOC official said. In a common voice, the ministers agreed to strengthen the multilateral trade system with the World Trade Organization (WTO) at its core and participate in the WTO reform with a constructive attitude.
The ministers condemned some developed countries for adopting unilateral and discriminatory measures, including the Carbon Border Adjustment Mechanism and tax incentives. They stressed that the policy-making related to climate change be consistent with the principle of common but differentiated responsibilities and the WTO rules.
They also reached a consensus to invite non-BRICS countries to discuss the digital economy and explore cooperation with other developing countries and the least developed countries. The multilateral trade system with like-minded non-BRICS members will also be strengthened to promote the forming of a sound trade environment conducive to development.BRICS is an acronym for five emerging economies — Brazil, Russia, India, China, and South Africa.
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