The BRICS Ministers jointly reviewed the progress of BRICS economic, trade and investment cooperation during the 7th Meeting of the BRICS Trade Ministers in Shanghai, China, exchanged in-depth views on relevant key areas, and reached broad consensus on future cooperation actions. The representatives of the Ministry of Industry, Foreign Trade and Services of Brazil, the Ministry of Economic Development of the Russian Federation, the Ministry of Commerce and Industry of India, the Ministry of Commerce of China and The Department of Trade and Industry of South Africa signed the BRICS Action Agenda on Economic and Trade Cooperation covering many key economic issues including BRICS Model E-Port Network which will operate on a voluntary basis under CGETI. The BRICS Ministers endorsed the Framework on Strengthening the Economic and Technical Cooperation for BRICS Countries to conduct economic and technical cooperation and capacity building in areas of trade, investment facilitation, e-commerce, intellectual property rights, trade in services, and other related areas. The BRICS members reaffirmed the commitments to ensure full implementation and enforcement of existing WTO rules and were determined to work together to further strengthen the WTO. China announced it would host International Import Expo in 2018 and welcomed BRICS members to display their products at the Expo. On the basis of previous work, the BRICS members will continue to carry out exchanges and cooperation in areas such as standards, “Women and Economy” and the regulatory impact assessment system.
BRICS Action Agenda on Economic and Trade Cooperation
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