BRICS trade ministers meet in Sept to steer India’s proposals on boosting trade

New Delhi, Jul 20 (Agency) Trade ministers of five BRICS countries will meet in September to take forward a set of proposals by India to push trade and economic cooperation. Commerce Minister Piyush Goyal will chair the September 3 meeting. The commerce ministry said other BRICS members–Brazil, Russia, China, and South Africa—have agreed to discuss and finalise India’s proposals before the September 3 meeting.

The proposals aim to deepen trade and economic ties and include a framework for ensuring consumer protection in e-commerce, a mechanism to resolve non-tariff measures relating to sanitary and phytosanitary measures (relating to food safety, animal and plant health standards) and technical barriers to trade. The plan also covers a framework for cooperation on the protection of genetic resources, traditional knowledge and cultural expressions. Traditional cultural expressions include local elements of culture such as folk songs and graphic designs which may have a commercial value. India circulated its proposals at a meeting last week of the BRICS Contact Group on economic and trade issues. India will also hold a BRICS trade fair and virtual buyer and seller meet in August 16-18 to deepen trade and economic ties. India heads the BRICS grouping for the year 2021.