The 2nd Meeting of the BRICS Trade and Economic Ministers was held on March 28, in New Delhi, India. Trade and Economic Ministers Chen Deming from China, Anand Sharma from India, Rob Davis from South Africa, Fernando Pimente and Foreign Affairs Minister Antônio Patriota from Brazil, and Russia's Elvira Nabiullina attended the meeting.

There are three major topics for discussion at this Meeting: 1. Review the report of Contact Group on Economic and Trade Issues (CGETI); 2. Discussion on multilateral issues of economic developments of the countries, international economic situation and their impact on trade and investment, current state of the Doha Round negotiation and prospects, and cooperation of BRICS in multilateral mechanisms such as G20; 3. Discuss how to deepen economic and trade cooperation of BRICS.

Mr. Chen said that, facing with current complicated international economic situation, BRICS have to strengthen policy coordination and cooperation on regulation measures, jointly overcome the outward challenges and crisis, oppose protectionisms, and expand economic and trade exchange, so as to promote the robust, sustainable and balanced economic growth of the BRICS and the world.

Mr. Chen pointed out continuous support should be given to multilateral trade mechanism. In the process of Doha Round negotiation, as big developing countries, BRICS should try to maintain the development cores of the Doha Round. Though Doha Round negotiation is now in a deadlock, the member countries should focus on addressing the core concerns of the least developed countries, and reach further consensus on “duty and quota free” treatment. China is open to all efforts to promote Doha Round negotiation, but holds that the realization of Doha “packaged” agreements must base on multilateral negotiation and avoid the tendency of deviating or separating from multilateral negotiation.

Mr. Chen said that as important members of the UN, G20, WTO, etc., BRICS should seek common ground while reserve differences, and support each other on important issues.

Mr. Chen also put forward proposals on how to expand economic and trade cooperation by way of BRICS mechanism, such as to improve market environment, establish more platforms, promote cooperation of SMEs, and carry out scientific and technological cooperation and industrial cooperation.

After the Meeting, the trade ministers of the five countries met with reporters and published joint press release.

On the same day, Mr. Chen also attended the opening ceremony of BRICS Business Summit, and exchanged views with industrial and business representatives from other countries who attended the meeting.

(All information published on this website is authentic in Chinese. English is provided for reference only.)