BRICS (Brazil, Russia, India, China and South Africa) members have agreed to carry a commerce truthful present, roundtable assembly of MSMEs and two workshops on companies commerce statistics to additional strengthen financial ties.

A BRICS commerce truthful will likely be held from August 16-18; roundtable on July 22 and the workshops will likely be held on July 16 and August 13, the commerce ministry mentioned in an announcement on Tuesday.

“To deepen and strengthen the trade and economy, following events proposed by India were agreed by the BRICS Members,” it mentioned.

It additionally mentioned that of the varied teams of BRICS, the Contact Group on Economic and Trade Issues (CGETI) is liable for financial and commerce issues.

Meeting of the CGETI was held from July 12-14. During the three-day assembly, members deliberated on sure proposals circulated by India.

These proposals included BRICS Cooperation on Multilateral Trading System; BRICS Framework for guaranteeing Consumer Protection in E-Commerce; Non-Tariff Measures Resolution Mechanism; Cooperation framework for defense of Genetic Resources, Traditional Knowledge and Traditional Cultural Expressions.

“BRICS Members agreed to take forward India’s proposals to finalise them before the BRICS Trade Ministers meeting to be held on 3 September 2021, to be chaired by Piyush Goyal, the Commerce and Industry Minister,” it added.

India is the BRICS chair for 2021.

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