The BRICS grouping has played a crucial role in uniting the Global South through economic and trade partnership, and efforts should be made to deepen such cooperation, according to international experts attending the BRICS Economic and Trade Forum in Beijing on Friday.
During the forum which was organized by China Council for the Promotion of International Trade (CCPIT), the BRICS Action Plan for Trade Development and Standards Cooperation Initiative was released.
The plan aims to strengthen the existing cooperation framework among BRICS countries, jointly build an information sharing mechanism, reduce technical barriers through standards matching and mutual recognition, and enhance the facilitation of goods, services, culture and digital trade among BRICS nations.
It also calls for efforts to accelerate the sustainable development process and multilateral and bilateral cooperation of BRICS countries in economic, social, environmental and other aspects, with international standards, technical regulations, and voluntary sustainable standards as technical support.
"The collective rise of emerging market countries and developing nations represented by the BRICS countries, and their deepening economic and trade cooperation have fundamentally changed the pattern of world economic development and injected more certainty and stability into world economic growth," said Li Qingshuang, vice president of the CCPIT at the opening ceremony.
The plan also elaborates on key actions and implementation paths, and puts forward feasible suggestions on trade in goods, trade in services, trade in culture, and digital trade.
"We can use the 'minor means' of trade development and standards cooperation to help BRICS countries achieve soft connectivity, to further broaden thinking and expand space for economic and trade cooperation amongst BRICS nations," Li said.
Most of the representatives attending the forum said that the BRICS cooperation mechanism, with its growing representativeness, appeal and influence, has become an important platform for unity and cooperation in the Global South, and a stronghold against trade barriers and unilateralism.
"One country's development should not be at the expense of other countries. Therefore, we will always rely on regional and multilateral cooperation to advance development, to set norms, to ensure rights and obligations are balancedly addressed," said Elizani T. X. Nadia Sumampouw, Minister Counselor for Economic Affairs at the Indonesian Embassy in China.
"We will feel that true trade facilitation will only be possible in a democratic international system, where unilateral practices are eradicated and cooperation is presided over competition. We reiterate our willingness to work alongside BRICS and its partners to build a more inclusive economic model," said Roberto Smith, Economic Counselor of the Cuban Embassy in China.
At the event, attendees said that only by establishing fair and just trade rules can economic and trade exchanges become normal and rational.
"We are working to enhance trade facilitation, reduce regulatory barriers, and promote regulatory convergence across our markets," said Joao Batista do Nascimento Magalhaes, Counselor of the Brazilian Embassy in China.
BRICS plays crucial role in uniting Global South through economic, trade partnership: experts
