India chairs 2021 BRICS meeting of Contact Group on Economic and Trade Issues

BRICS Members agreed to take forward India’s proposals circulated in the 2021 BRICS meeting on Contact Group on Economic and Trade Issues (CGETI).

The meeting of the CGETI was held from July 12-14, 2021. During the three day meeting, the BRICS Members deliberated on the following proposals circulated by India, for strengthening and increasing the intra-BRICS cooperation and trade, the Ministry of Commerce and Industry said in a statement.

“These proposals are, BRICS Cooperation on Multilateral Trading System; BRICS framework for ensuring Consumer Protection in E-Commerce; Non-Tariff Measures resolution mechanism for SPS/TBT measures; Sanitary and Phytosanitary working Mechanism; BRICS Framework on Cooperation in Professional Services,” the statement said.

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

BRICS members also agreed to India’s three more proposals to strengthen trade and economy — a BRICS trade fair to showcase and to have buyer and sellers virtual meet from August 16-18, 2021; a roundtable of BRICS MSMEs on July 22, 2021 and two workshops on Services Trade Statistics to be held on July 16, 2021 and August 13, 2021.

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