BRICS Trade Ministers’ meeting 2017 at NECC in Shanghai

16.08.2017

On August 1, the BRICS Trade Ministers’ meeting 2017 opened in Shanghai. The Chairman of this meeting and Minister of Commerce Zhong Shan presided over the conference and delivered an opening speech. The Minister of Economic Development of Russia Oreshkin, the Minister of Commerce and Industry of India Nirmala Sitharaman, the Minister of Industry and Trade of South Africa Davis and the Vice Minister of Industry, Foreign Trade and Services Marcelo Maia attended the conference.

Zhong said that in this January 1, President Xi Jinping emphasized in the letter to the leaders of the BRICS that China is looking forward to working with all countries at the meeting in Xiamen to summarize cooperative experience, build cooperative consensuses and plan cooperative blueprint focusing on the theme of “deepening the BRICS partnership and ushering a brighter future”. Since the beginning of the cooperation of the BRICS in 2006, the BRICS has gradually become an example of mutual cooperation among emerging markets and developing countries and an important strength to promote the world economic growth. It has also improved global governance from an investment concept in the research report. At present, the economic aggregate of the BRICS is near one fourth of the globe, contributing almost half to the world economic growth. The status and function of the BRICS is increasingly important. 

Zhong pointed out in the past few years, the world economy has gradually recovered, but is still facing many uncertainties. In the face of these challenges, the BRICS should further enhance trade and economic cooperation, improve cooperative mechanism, expand cooperative field, innovate cooperative measures and tap new development strength. At the same time, efforts should be made to support multilateral trade system, oppose all kinds of protectionism, develop open world economy and safeguard common interests of emerging markets and developing countries. Since the first BRICS trade ministers’ conference held in Hainan, China in 2011, the trade and economic cooperative mechanism has been constantly improved. Practical achievements have been obtained in aspects such as trade and investment facilitation, trade in service and e-commerce focusing on implementing the consensuses of previous leaders.

Zhong emphasized that as the host of the BRICS trade ministers’ meeting, China has confidence, wisdom, courage and practical action to positively implement the leaders’ consensuses and jointly promote the trade and economic cooperation of the BRICS to enter a new stage. China is a significant beneficiary and contributor of the economic globalization. At the new historical stranding point, China will continue to unswervingly expand opening up, positively cultivate favorable business environment and work with all parties to build an open, inclusive, beneficial, balanced and win-win economic globalization. In 2018, China will hold the first international import expo. This is an important measure of China to actively open its market to the whole world. All parties are welcomed to participate in the expo to share the economic development achievements of China.

Zhong pointed out that the meeting of the trade ministers will make practical trade and economic achievements as the preparation for the leaders’ meeting in Xiamen. The ministers of the BRICS will discuss issues such as promoting investment facilitation, trade development, strengthening economic and technical cooperation and capacity building, and supporting multilateral trade system. It is hoped that all parties can deepen communication, build extensive consensus, obtain practical achievement, implement important consensus of the leaders of the BRICS, provide institutional guarantee and action support for the “integrated market” of the BRICS, strengthen institutionalization, systemization and substantiality of trade and economic cooperation, make positive contribution to helping the Belt and Road construction, build the open world economy, improve the global economic governance and promote the sustainable development.

The Secretary-General of UNCTAD, the Secretary-General of UNIDO, the Executive Director of ITC and representatives of business and industry council of the BRICS participated in the conference. Vice Minister of Commerce Wang Shouwen and the Permanent Chinese Ambassador to the WTO Zhang Xiangchen took part in the conference.