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The 13th BRICS Economic and Trade Ministers’ Meeting Achieved Tangible Results

On the evening of August 7, the 13th BRICS Economic and Trade Ministers’ Meeting was held virtually. Minister of Commerce Wang Wentao made remarks at the meeting. The meeting approved the joint communiqué and delivered outcome documents--BRICS Statement on Strengthening the Multilateral Trading System and Reforming the WTO, Terms of Reference of the Digital BRICS Task Force, Work Plan of the Digital BRICS Task Force, BRICS Framework for Cooperation on Supply Chains for Resilience and Sustainable Development, and BRICS MSMEs Cooperation Framework, which will be presented as the trade and economic cooperation outcomes for the 15th BRICS Summit.

The Ministers agreed on the importance of safeguarding the multilateral trading system, oppose unilateralism and protectionism, support tangible outcomes of the WTO reform, and work for the success of the 13th WTO Ministerial Conference. They stressed the need to intensify cooperation in emerging areas such as the digital economy and green development, maintain supply chain security and stability, engage in practical cooperation, such as electronic bill of lading, so as to create a favorable business environment for small and medium-sized enterprises, ensure unimpeded economic and trade cooperation, and elevate BRICS economic and trade cooperation.

Wang Wentao said that BRICS countries have long taken trade and investment as an important engine to promote economic and social development and improve people’s living standards. BRICS members should implement the existing consensus, strengthen solidarity and cooperation, and continue to deepen economic and trade cooperation. He also emphasized the need to embrace development opportunities in emerging areas such as the digital and green economy, and firmly safeguard the multilateral trading system, so as to inject impetus into the recovery of the world economy. China is moving forward on the Chinese path to modernization with high-quality development, steadfast in pursuing high-level opening-up, and working to create a market-oriented and international business environment under the rule of law. These efforts will provide broader market and development opportunities for fellow emerging economies and developing countries. China is willing to take concrete actions to contribute to BRICS economic and trade cooperation and global economic and trade development.

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